Overview

• The Times first reported that officials are exploring applying NI to rents as a way to tax so‑called unearned income, drawing on Resolution Foundation analysis and presented as broadening the NI base rather than lifting rates.
• Estimates cited across outlets suggest the move could raise about £2 billion, with an 8% charge on 2022–23 net property income projected to have yielded roughly £2.18 billion.
• Modelling referenced in reports indicates around 360,000 landlords earning £50,000–£70,000 in property income could face about £1,000 extra per year under an 8% levy.
• The Treasury declined to confirm the plan, issuing a statement emphasizing economic growth and reaffirming a commitment not to raise the main rates of income tax, employee NI or VAT.
• Industry groups and commentators warn the cost could be pushed onto tenants or trigger sell‑offs that reduce rental supply, while forecasts of a £40bn–£51bn fiscal shortfall are driving consideration of such pre‑budget revenue options.