LETTING & ESTATE AGENT

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Landlords may produce 'alternative' buy to let tax measures

Landlords may produce 'alternative' buy to let tax measures

The Residential Landlords Association has launched a new campaign ‘toolkit’ to enable opponents of the proposed buy to let tax changes to lobby against them. 

These measures - announced in last month’s Budget - include reducing the mortgage interest relief for buy to let landlords to the basic 20 per cent income tax rate even if individual landlords may pay higher rates, and replaing the wear and tear allowance for fully furnished homes with a scheme for tax relief only on actual replacement furnishing.

The toolkit - here - sets out ways in which landlords can campaign against the measures along with the RLA by contacting their local MP and signing a petition on the Parliament website.

The kit also takes you to the RLA tax calculator created by the RLA and Rita4Rent where you can work out exactly how the proposed mortgage interest relief changes could affect your income.

The association has meetings set up with the Treasury and is considering announcing alternative tax proposals on both mortgage interest relief and wear and tear.


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