Autumn Budget 2021: what was in it for landlords?

Oct 29, 2021
Funding for affordable homes and leaseholders affected by the cladding crisis were among the main announcements, alongside a National Insurance hike and a fuel duty freeze. In addition Chancellor Rishi Sunak announced several measures likely to impact landlords.
Grants to help landlords replace gas boilers with heat pumps
As part of the government’s Heat and Buildings Strategy, which was announced in early October, landlords will be able to access grants of £5,000 to replace gas boilers with heat pumps from April 2022.
Capital gains tax deadline extended
Despite long-term speculation that the Chancellor would use the Budget to increase capital gains tax, reform again failed to materialise.
However, it was revealed that the deadline for residents to report and pay capital gains tax after selling UK residential property will be increased from 30 days to 60 days from 27 October 2021.
Landlords to benefit from £65 million Covid-19 debt fund
Although not announced as part of the Budget, the Department for Levelling Up, Housing and Communities recently launched a £65 million fund to help tenants in rent arrears caused by Covid-19.
Following the end of the furlough scheme and the lifting of the eviction ban, the debt fund has been welcomed as an opportunity to reduce homelessness.
However, some industry commentators say that £65 million isn’t enough. Chris Norris, Policy Director at the National Residential Landlords Association, suggested that rent arrears caused by Covid-19 are closer to £300 million.
No details on Green Homes Grant replacement
The government has since launched the Heat and Buildings Strategy, which includes £5,000 grants for heat pumps.
A roundup of other Autumn Budget 2021 announcements the could impact landlords
Housing investment to total £24 billion / Brownfield regeneration / More money for cladding removal / A tax on residential property developers / Support for lowest-paid tenants / Making Tax Digital delayed until 2024
These highlights are as reported in Simply Business - read Conor Shilling's article for more detail.
Autumn Budget and Spending Review 2021 - the chancellor's budget speech in full
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