The Aporia · Landlords warn Budget tax rise will force them to raise rents

Landlords warn Budget tax rise will force them to raise rents

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Magnus, E. (2026, October 29). Landlords warn Budget tax rise will force them to raise rents. Daily Mail. https://www.dailymail.com/news/article-16251005/Landlords-warn-Budget-tax-rise.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

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Quick Summary

Landlords are criticizing a recent Budget proposal that includes a 2 percent increase in income tax for rental income starting April next year. The hike will raise the basic rate from 20% to 24%, impacting landlords' finances and leading some, like Harry Johnston who owns 40 flats in Manchester, to plan rent increases or property sales. Mark Imray, another landlord, warns this is "another nail in the coffin" for buy-to-let investors due to accumulating taxes and regulations.

Written by AI on 2026-10-30, from this article's own text only (the story summary below draws on all the coverage).

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Story summary

On October 28, John Healey delivered his first Budget as Chancellor of the Exchequer, aiming to address economic challenges exacerbated by the Iran war and Brexit. The budget included a £1bn investment for social and affordable housing in England, taking total funding under the government's 10-year homes programme past £40bn. Additionally, Healey announced a £285m "good growth" fund to support local authorities until 2028 when some income tax revenue will be devolved directly to areas for longer-term security. The budget also featured a new £1.5bn borrowing facility and plans to meet the UK’s NATO commitment of increasing defence spending to 3.5% of GDP by 2035, with an initial £15 billion investment allocated. However, despite these measures, critics argue that without significant spending cuts, the UK could face a systemic crisis similar to France's. Prime Minister Andy Burnham acknowledged that his budget was more cautious due to economic uncertainty and constraints set by Labour’s 2024 manifesto.

Written for “Chancellor's Humiliating U-turn On Welfare” on 2026-10-30, grounded in this article and the 76 other(s) covering the same event.

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Who wrote this

Ed Magnus

4 article(s) here · 1 carrying a prediction

🔮 They say they will be forced to raise rents and sell homes after Chancellor John Healey hit them with a 2 per cent income tax rise.

2026-10-30 · assertive framing · Landlords warn Budget tax rise will force them to raise rents

🔮 While London home sellers are pricing their homes higher this month, Rightmove's indicators suggest some may be too optimistic.

2026-10-19 · assertive framing · London property asking prices see surprise autumn spike... as sellers in the north cut theirs

🔮 The deal comes with a £999 fee, and on a £200,000 mortgage being repaid over 25 years would cost £1,168 a month.

2026-10-15 · assertive framing · HSBC cuts mortgage rates following weeks of rises: Are there cheaper deals to come?

🔮 The average asking price of newly listed properties for sale rose by 0.7 per cent, or £2,441 this month to £367,440, the first increase to property asking prices since May.

2026-09-21 · assertive framing · Homes for sale at a 12-year high, as househunters fall: Where sellers are struggling most

Also by Ed Magnus

London property asking prices see surprise autumn spike... as sellers in the north cut theirs

2026-10-18 · Daily Mail

HSBC cuts mortgage rates following weeks of rises: Are there cheaper deals to come?

2026-10-15 · Daily Mail

Homes for sale at a 12-year high, as househunters fall: Where sellers are struggling most

2026-09-21 · Daily Mail

Nothing else under this byline is closely related to this article, so these are simply their most recent.

Narrative

Claims (17 extracted, 0 hedged)

Landlords have criticised a steep tax hike in the Budget, saying the Government is 'killing' buy-to-let. asserted

Government → criticise → Budget

They say they will be forced to raise rents and sell homes after Chancellor John Healey hit them with a 2 per cent income tax rise. asserted

Healey → say → rise

It comes on top of a 2 per cent increase imposed by ex-chancellor Rachel Reeves last year. asserted

It → come → Reeves

It means landlords who are basic rate taxpayers will pay 24 per cent income tax on rent from April next year, up from 20 per cent today. asserted

who → mean → cent

Higher rate taxpayers will be taxed at 44 per cent, up from 40 per cent. asserted

taxpayers → tax → cent

And additional rate taxpayers will be taxed at 49 per cent, up from 45 per cent. asserted

taxpayers → tax → cent

Harry Johnston, a buy-to-let landlord who owns 40 flats in Manchester, said he will increase rents and claimed the Government was 'killing the rental sector'. asserted

Government → buy → sector

He said: 'Landlords are always in the firing line. asserted

Landlords → say → line

We appear to have become the cash cow – but it is just going to result in higher rents.' asserted

it → appear → rents

A landlord who is a basic rate taxpayer and gets £12,000 of income from rent each year after expenses currently pays £2,400 in income tax. asserted

who → get → tax

From April 2027, this will rise to £2,880. asserted

this → rise → 2,880

For a higher rate taxpayer, it will rise from £4,800 to £5,280. asserted

it → rise → 5,280

Landlords say they will be forced to raise rents and sell homes after Chancellor John Healey hit them with a 2 per cent income tax rise Mark Imray lets a small number of houses and flats in the East Midlands and East of England. asserted

Imray → say → England

He said Mr Healey's tax raid was 'another nail in the coffin' for buy-to-let. asserted

raid → say → coffin

He plans to sell at least half of his properties in the coming years. asserted

He → plan → years

Landlords have been heaped with taxes and regulations recently, including a 5 per cent stamp duty surcharge when buying properties and the Renters' Rights Act, which makes it harder to evict tenants and restricts rent rises. asserted

it → heap → rises

Mr Imray said: 'The Government is discriminating against smaller landlords, many of whom are just hard-working people who have bought two or three properties to support them in retirement.' asserted

who → say → retirement

Landlords warn Budget tax rise will force them to raise rents

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Claims (17 extracted, 0 hedged)