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TODAY'S OTHER NEWS

RLA launches “campaigning” toolkit for tax-hit landlords

The Residential Landlords Association (RLA) has launched a 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 landlords can campaign against the measures along with the RLA by contacting their local MP and signing a petition on the Parliament website.

The site also takes you to the RLA’s 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 RLA has meetings set up with the Treasury and is looking at putting together a proposal of alternative tax proposals to Number 11 on both mortgage interest relief and wear and tear.

A petition calling on the government to reverse the planned tax relief restriction had collected 8,651 signatures as of yesterday. The government has to respond when it reaches 10,000 signatures.

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