Reported about 1 month ago
City Minister Tulip Siddiq has advocated for a new national insurance tax on rental income, suggesting that taxing 'unearned income' could help equalize taxation between landlords and wage earners. This proposal aims to address the disparities in tax rates and is spurred by economic pressures, including a £22 billion shortfall in public finances. However, experts warn that heightened taxes on landlords may exacerbate the housing crisis by driving up rents amidst already rising costs for renters.
Source: YAHOO