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MPs want agents' and landlords' views on buy to let taxes

Opponents of the government’s attempt to end tax breaks for the buy to let sector now have a new opportunity to have their voice heard.

The planned ‘tax relief restriction’ - which cuts tax breaks for landlords - is part of the Finance Bill currently being debated in the House of Commons. 

This Bill will be looked at by a Public Bill Committee, a group of MPs which goes through a draft law line by line and debates it. 

Now the Public Bill Committee has asked for public views. This link explains how you can have input to the debate by sending your comments.

Meanwhile this link shows how you can follow the progress of the Finance Bill.

This opportunity to comment is in addition to the online petition against the proposed tax changes, which has now secured 27,000 signatures and can be found here. 

An official statement from the government about the petition says: “Because the issue is currently being looked at in Parliament, the Petitions Committee decided not to take any further action on this petition.” 

However, supporters of the petition says it is still vital for more signatories to make their feelings heard, to maintain maximum pressure on the government.

The proposals, outlined in the Budget in July, 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.

  • Mark Wilson

    I doubt very much that MPs want to hear what 27,000 complaining buy to let landlords have to say.

    ‘Consultation’, as it is politely called, is usually no more than a comments box like this one. It very rarely changes anything.

    Landlords, my money is firmly in the wasting your time camp

  • Jon  Tarrey

    Very true, Mark. Although if the petition gets over a certain threshold, MPs do at least have to consider it or even debate it in Parliament. This doesn't have anywhere near the numbers for that, and I doubt the public has too much sympathy with buy-to-let landlords.

  • Simon shinerock

    This is a pivotal moment for the industry, make no mistake, I will be making a submission, it has become my number one priority. I have foretold and foreseen this threat to our industry, it may not be too late to stop it in its tracks but action is needed now.

  • Mark Wilson

    Buy to let Landlords are speculators by another name. The rent received by a Landlord is paid out of the Tenant’s taxed income. The mortgage interest relief is offset on a gross basis. Ergo, this is not a level playing field. It staggers me that it has taken government so long to deal with the issue.

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