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TODAY'S OTHER NEWS

SaynotoGeorge campaign founders speak out on tax threat

The founders of the website saynotogeorge.co.uk have stepped forward to explain why they have founded the campaign. 

Two Peterborough-based property developers are behind the site, which was launched last week with the intention of showing how detrimental George Osborne’s proposed buy to let tax changes will be in their opinion. 

The proposals, outlined in the Budget last month, limit tax relief to the basic rate of income tax - currently 20 per cent - even if the individual property owner pays a higher rate of tax. In addition, the Budget also introduced restrictions on what was previously the annual claiming of Wear and Tear allowance.

The SNTG campaign website explains how the tax proposal may hit different people in different ways - from estate and letting agents to landlords and tenants. 

One of the developers, John McKay, told Letting Agent Today: “The Chancellor has made an outrageous attack on property people, many of whom voted for the Conservatives in the election. What he seems to not understand, or care about, is how this change will necessitate increased rents and/or cause hundreds of thousands of people to be made homeless.”

He says the pair were “appalled” by Osborne’s “badly thought through proposals” and felt the website was a key way of publicising their opposition.

  • Rookie Landlord

    Fully behind them. Keep up the good work!

  • Rob  Davies

    Fully behind what? BTL landlords getting more tax reliefs than first-time buyers? How is that fair?

    I don't agree with George on anything usually, but I do on this. It's quite clearly a cynical ploy to appeal to a public that are angry at the proliferation of buy-to-let properties, but it's the right move nonetheless.

    It's a lot easier for BTL landlord to buy a property - thanks to tax breaks and easier to acquire mortgages. That needs to change.

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