Overview

• Multiple outlets report officials are drawing up plans to apply NI to rental profits, framing it as broadening the base rather than increasing rates.
• Media analyses using 2022–23 data estimate an 8% levy on about £27bn of net property income could yield roughly £2.1bn.
• The Treasury and ministers declined to confirm the proposal, reiterating a focus on growth and a commitment not to raise the main rates of income tax, employee NI or VAT.
• Property groups and analysts warn the move could prompt landlord exits, reduce rental supply and push rents higher, with smaller landlords seen as most exposed.
• The idea echoes a Resolution Foundation proposal and is being considered alongside other property‑focused options as officials grapple with a multibillion‑pound shortfall.