Legal represenatives for two landlords will today make the case for a judicial review of Section 24 of the Finance (No.2) Act 2015 - a bid to stop the phased reduction of mortgage interest tax relief for landlords, sscheduled to be introduced from next April.
Landlords Steve Bolton founder of Platinum Property Partners, and Chris Cooper, a fellow landlord and airline cabin crew member, are represented by law firm Omnia Strategy LLP, led by Cherie Blair QC.
The legal argument - extensively covered for around a year on Letting Agent Today - hinges on the legislation’s allegedly discriminating against individual landlords by denying them the same rights as, for example, large scale corporate and institutional landlords which can set their finance costs off against their income and be taxed only on their profit.
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Theresa May in her conference speech yesterday said her Government would fight injustice. Well here's her first test is she going to defend Sec.24 or do the right thing correct this injustice and repeal it?
Theresa May in her conference speech yesterday said her Government would fight injustice. Well here's her first test is she going to defend Sec.24 or do the right thing correct this injustice and repeal it?
What time will we get a result does anyone know ?
Around 2pm, I believe, Phil.
I cant see anything on line do we have any news yet ?
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