LETTING & ESTATE AGENT

NLA urges landlords to lobby parliament over tax changes

NLA urges landlords to lobby parliament over tax changes

The National Landlords Association (NLA) has urged landlords to lobby the government over taxation changes announced in July's Summer Budget. 

The association says it is 'fighting' the government over the proposed changes detailed in Clause 24 of the Finance Bill and is advising landlords to do the same. 

Two months ago George Osborne announced that from 2020, mortgage interest relief for residential landlords will be restricted to the basic rate of income tax. 

The government also announced its intention to scrap the annual wear and tear allowance– which allows 10% of rental profits to be written off for notional wear and tear. 

To allow landlords to have their say on the matter and lobby their local MP, the NLA has launched NLA Lobby. 

The NLA wants landlords to use the Lobby to provide MPs with evidence of how the Budget changes will affect them and their tenants.

“You must stand up for your rights and the good of the industry – don’t leave this for others to fight. We all need to act now by letting our MPs know our concerns via NLA Lobby, to get them on our side and be our voice in Parliament. By working together, your contribution can make a difference and influence change,” says Carolyn Uphill, NLA chairman.

"These changes will have far-reaching consequences for the private rented sector and we need to put more pressure on policy makers to make sure they understand the impact the Chancellor’s tax hike will have.”

Earlier this week the Residential Landlords Association reported that over 60% of landlords face being pushed from basic to higher rates of income tax as a result of the Budget reforms. 

The NLA Lobby can be viewed here


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