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1383015

	registered interest
	date	29/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to his Answer of 2 November 2021 to Question 64692, on Mortgages: Tax Allowances, on what basis his Department has concluded that one in 10 landlords are affected by the decision to restrict tax relief on mortgage interest to the basic rate of income tax.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	83434
	answer	answer is ministerial correction date of answer 07/12/2021 answer text <p>The original estimate that 1 in 5 landlords would be affected by the decision to restrict finance cost relief to the basic rate of tax was a forecast based on limited information. The latest estimate of 1 in 10 is based upon received self-assessment tax returns for the tax year 2017-18, the first year after the restriction was brought into force. The statistic refers to individual UK landlords of residential property who completed the main self-assessment property return. It does not include corporate landlords, members of partnerships with property income, landlords of property abroad, landlords who completed the SA200 short self-assessment return, or owners of Furnished Holiday Lettings.</p><p>For tax year 2017-18, of all individuals that had declared property income via their self-assessment tax return, around 11 per cent, or approximately 1 in 10, paid more income tax as a result of the decision to restrict tax relief on mortgage interest to the basic rate of income tax.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 83435 question first answered 07/12/2021 15:17:45 answering member 4517 label Biography information for Lucy Frazer
	tabling member	4474 label Biography information for Kevin Hollinrake

1383016

	registered interest
	date	29/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to his Answer of 2 November 2021 to Question 64692, on Mortgages: Tax Allowances, for what reason his Department's estimate of the number of landlords affected by the decision to restrict tax relief on mortgage interest to the basic rate of income tax has changed from one in five to one in 10.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	83435
	answer	answer is ministerial correction date of answer 07/12/2021 answer text <p>The original estimate that 1 in 5 landlords would be affected by the decision to restrict finance cost relief to the basic rate of tax was a forecast based on limited information. The latest estimate of 1 in 10 is based upon received self-assessment tax returns for the tax year 2017-18, the first year after the restriction was brought into force. The statistic refers to individual UK landlords of residential property who completed the main self-assessment property return. It does not include corporate landlords, members of partnerships with property income, landlords of property abroad, landlords who completed the SA200 short self-assessment return, or owners of Furnished Holiday Lettings.</p><p>For tax year 2017-18, of all individuals that had declared property income via their self-assessment tax return, around 11 per cent, or approximately 1 in 10, paid more income tax as a result of the decision to restrict tax relief on mortgage interest to the basic rate of income tax.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 83434 question first answered 07/12/2021 15:17:45 answering member 4517 label Biography information for Lucy Frazer
	tabling member	4474 label Biography information for Kevin Hollinrake

1383018

	registered interest
	date	29/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Private Rented Housing: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment the Treasury has made of the potential impact of taxation on the supply of homes for private rent.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	83436
	answer	answer is ministerial correction date of answer 07/12/2021 answer text <p>The Government believes good quality private rental accommodation is important and is committed to reforming the Private Rented Sector. The Government plans to publish a White Paper in 2022 which will set out a balanced package of reforms that works for both tenants and landlords.</p><p>In April 2016, the Government introduced higher rates of Stamp Duty Land Tax (SDLT) for those purchasing additional properties as a second home or as a buy to let property. The higher rates are three percentage points above the standard SDLT rates and are part of the Government’s commitment to support first time buyers and ensure an efficient use of housing.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 07/12/2021 14:37:15 answering member 4517 label Biography information for Lucy Frazer
	tabling member	4474 label Biography information for Kevin Hollinrake