1.4m landlords ‘unaware of mortgage interest tax relief change’

1.4m landlords ‘unaware of mortgage interest tax relief change’


Todays other news
Rental growth on renewals rose faster than new lets last...
Demand in the rental sector is cooling as more tenants...
More will spend longer in emergency homeless accommodation - claim...
77% of British students choose HMO accommodation over PBSA...
Growth Capital Partners has signed a binding agreement to invest...


The campaign against the imminent changes to mortgage interest tax relief for the buy to let sector estimates that 1.4m landlords are still unaware of the proposals.

 

The Landlord Referencing website – which backs the so-called Axe The Tenant Tax campaign against the tax change contained in S24 of the Finance (No.2) Act 2015 – says that it has polled 1,000 of its members. 

 

“Worryingly, 70 per cent of those polled where oblivious to any such tax change at all – meaning that circa. 1.4 million landlords are unaware of the drastic effect it is going to have on their rental income and their tenancies over the next four years” claims the website.

 

It says that overall some 8.2m people in England alone will be affected, because they let residential property as an individual, or in a partnership or trust. 

 

The main campaign against the measure – which is phased, with part one coming into effect on April 1 – has the support of ARLA, the NLA and RLA, UKALA and the Scottish Association of Landlords. Last year the campaign lost a bid to trigger a judicial review of the measure, first announced in George Osborne’s post-election Budget of 2015.

Tags: Tax

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Recommended for you
Related Articles
Colliers estimate the total loss to government is now around...
The comments come from Angharad Trueman, ARLA Propertymark president...
David Alexander is chief executive officer of DJ Alexander Scotland...
Property taxes in Scotland raised £699.1m in the last year...
It now progresses to the so-called Report Stage....
The BoE has come to a decision on interest rates...
The House of Lords committee stage now continues until May...
Recommended for you
Latest Features
Rental growth on renewals rose faster than new lets last...
Demand in the rental sector is cooling as more tenants...
More will spend longer in emergency homeless accommodation - claim...
Sponsored Content
With less than a month to go until the UK...
The UK government has implemented 16 financial sanctions rule changes...
The owners of the Rentman software application (for property Lettings...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here