LETTING & ESTATE AGENT

MPs want agents' and landlords' views on buy to let taxes

MPs want agents' and landlords' views on buy to let taxes

Opponents of the government’s attempt to end tax breaks for the buy to let sector now have a new opportunity to have their voice heard.

The planned ‘tax relief restriction’ - which cuts tax breaks for landlords - is part of the Finance Bill currently being debated in the House of Commons. 

This Bill will be looked at by a Public Bill Committee, a group of MPs which goes through a draft law line by line and debates it. 

Now the Public Bill Committee has asked for public views. This link explains how you can have input to the debate by sending your comments.

Meanwhile this link shows how you can follow the progress of the Finance Bill.

This opportunity to comment is in addition to the online petition against the proposed tax changes, which has now secured 27,000 signatures and can be found here. 

An official statement from the government about the petition says: “Because the issue is currently being looked at in Parliament, the Petitions Committee decided not to take any further action on this petition.” 

However, supporters of the petition says it is still vital for more signatories to make their feelings heard, to maintain maximum pressure on the government.

The proposals, outlined in the Budget in July, limit tax relief to the basic rate of income tax - currently 20 per cent - even if the individual property owner pays a higher rate of tax. In addition, the Budget also introduced restrictions on what was previously the annual claiming of Wear and Tear allowance.


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