Andrew George MP has attacked the Chancellor for announcing an extension to a multi-billion pound tax loophole which he says has been exploited by many wealthy second home owners for more than a decade.
Andrew George MP
After the Budget, eligibility for those second home owners who ‘flip’ their properties from council tax to business rates, then apply for the small business rates relief (SBRR) and pay nothing has been extended to almost all holiday homes.
“Instead of closing a multi-billion-pound tax loophole, which is being exploited by many wealthy second home owners, the government has just gone and crowbarred it open still further!” said the MP. “This is just unbelievable!
“I can’t remember how many times I’ve spelt this out to government ministers. But I just think they’ve completely failed to comprehend it.
“It’s shocking that billions of pounds are being handed out to wealthy people with second homes when there are hundreds of thousands of families who can’t afford to secure a decent first home, even at an affordable rent.”
