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.
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Why is it the 'so-called' campaign?! It IS called Axe the Tenant Tax and they are the only people doing anything to actively campaign on this huge problem. MPs need to wake up to the problem urgently, stop blindly repeating whatever the treasury tells them to say and start thinking for themselves. Rents and evictions are already sharply up since the 2015 announcement and will only go one way from here as supply gets further squeezed. There really arent any other possible outcomes.
Its not a tenant tax its a partial removal of tax relief for landlords which first time buyers don't get. Its good news for first time buyers, maybe we can own are own home with out landlords buying them all up and forcing us to pay high rents whilst mortgage rates are at record lows.
Landlords don't get CGT relief as OO's do...
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