A petition to ‘Reverse the planned tax relief restriction on individual landlords’ has reached the required 10,000 signatures to require a Government response. The petition follows the Summer Budget announcements which will see many buy to let landlords affected by reduced Mortgage Interest Relief (MIR) to the basic rate of 20%. If you haven’t signed the petition please consider doing so now.
The numbers of signatures has now reached the minimum number of 10,000 signatures to require the Government to respond. Should the petition reach 100,000 signatures the petition will be considered for debate in Parliament. Regardless of reaching this further milestone, the more signatures, the bigger the impact.
The petition argues:
“The Institute for Fiscal Studies has stated, in response to the Budget, individual landlords are already taxed more heavily than other homeowners.
The private rented sector is heavily reliant on individual landlords. The planned change is likely to result in higher rents due to landlords looking to offset higher tax liabilities”
The RLA has created a tax campaign webpage in a bid to help landlords with the new conditions placed on them by George Osborne’s recent Summer Budget announcements.
- Campaign page
- Tax Calculator
- Petition: Reverse the planned tax release restriction on ‘individual’ landlords