The RLA has launched a brand new campaign page full of tools to enable Landlords to lobby against the proposed tax changes announced by George Osborne in this year’s summer budget. These measures included reducing the Mortgage Interest Relief for buy to let landlords to the basic rate (20%) and replacement for the wear and tear allowance for fully furnished properties with a scheme for tax relief only for actual replacement furnishing.
The page lays out ways in which you can campaign against the measures along with the RLA by contacting your local MP and signing a petition on the Parliament website. The site also takes you to our tax calculator created by the RLA and Rita4Rent where you can work out exactly how the proposed MIR changes could affect your income.
The RLA has meetings set up with the Treasury and we are looking at putting together a proposal of alternative tax proposals to Number 11 on both Mortgage Interest Relief and Wear and Tear. We will be continuing to survey members to monitor the impact of these changes and we would appreciate your input so that we can present robust evidence to Government in our case against these changes.