A summary of measures announced in the 6 March 2024 budget which may affect landlords:

Capital Gains Tax

Tax free allowance remains at £3,000

From April 2024 the amount to be paid on chargeable gains reduced from 28% to 24%

From 6 April 2024

Child Benefit


Single wage earner £60,000 earnings before child benefit affected

Couple wage earners £80,000 earnings before child benefit affected

From 6 April 2024

Fuel Duty

Frozen for another 12 months so will stay at 53p per litre

Holiday Lets

Changes to the tax regime

Furnished holidays tax regime which previously offered tax incentives to landlords engaged in holiday rentals, is now set to be abolished.

Landlords with furnished holiday lets will no longer be able to claim tax relief on interest payable on borrowings

From April 2025

Household Support Fund

Extended for another 6 months to September 2024.

Multiple Dwellings Relief

A provision offering stamp duty discounts for buyers acquiring multiple properties in a single transaction was abolished.

National Insurance

Cut in the amount to be paid by workers by 2p reducing amount payable from 10% to 8%

From 6 April 2024

Non Domiciled Tax Regime


From April 2025


One-off tobacco duty increase of £2.00 per 100 cigarettes or 50 grams of tobacco

From 1 October 2026


A new duty on vaping products

From October 2026


The registration threshold increased from £85,000 to £90,000

From April 1

Property transactions with contracts that were exchanged on or before 6th March will continue to benefit from the relief regardless of when they complete, as will any other purchases that are completed before 1st June.