In the UK many of us do not always see eye to eye with some of the recommendations of the EU. But when it comes to their recently agreed maximum 5% tax rate for renovation and repair work, landlords are right behind them.<\/p>\n
The UK Government needs to implement this as soon as possible. This is a unique opportunity to encourage landlords to get properties up to spec. Given that a lot of the PRS (private rental sector) deals in older properties could do with a little work, this has to be viewed as a very good thing.<\/p>\n
Of course, it is not to be ignored that a drop in tax, which will lead to an increase in renovations, will also stimulate the economy by providing work. Tradesmen have had a hard time of it lately with many people shelving any plans that they had for home improvement when the crisis hit. This would get a lot of these businesses back on track. Not to mention the huge boost that will be given to the manufactures of all kinds of building supplies.<\/p>\n
The Government needs to stop dragging its feet on falling in line with the EU requirements. There is much to be gained and very little to lose. I am sure they can find a way to recoup any monies lost through the drop in tax.<\/p>\n
They usually do!<\/p>\n","protected":false},"excerpt":{"rendered":"
In the UK many of us do not always see eye to eye with some of the recommendations of the EU. But when it comes to their recently agreed maximum 5% tax rate for renovation and repair work, landlords are … Continue reading