Budget 2024: Housing sector sounds alarm over build to rent tax hike

By Joey Gardiner2024-03-06T18:05:00

British Property Federation says abolition of Multiple Dwellings Relief will hit industry investment

The housing sector has hit out at the chancellor’s decision to abolish a targeted tax incentive originally designed to boost institutional investment in housing and the build to rent sector.

Chancellor Jeremy Hunt styled his Spring Budget as a tax-cutting intervention, however he surprised property industry observers by announcing the abolition of Multiple Dwellings Relief on stamp duty – which applies when buyers make bulk house purchases.

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