Overview

• Reports say the Treasury is considering applying employee National Insurance to rental income, with the option under active review before the Chancellor’s autumn Budget.
• An 8% levy on roughly £27 billion of net property income would have raised about £2.16–£2.18 billion in 2022–23, based on analyses cited in coverage.
• Allies argue the measure widens the tax base rather than raises NI rates, aligning with Labour’s pledge not to increase headline VAT, income tax or NI for working people.
• A Treasury spokesperson focused on growing the economy and said taxes for working people should be kept as low as possible, while a government minister declined to comment on speculation.
• Industry groups and analysts warn landlords could sell or pass on costs to tenants, with some estimates suggesting around 360,000 people could face bills of more than £1,000 and signals of potential pressure on rent and housing demand.