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Section 24 tax petition struggles for support with month to go

The Section 24 parliamentary petition, seeking to persuade MPs to reinstate mortgage interest tax relief for landlords, is still struggling for signatures.

The petition, from Midlands landlord Simon J Foster, urges the government to reverse the Section 24 tax change. 

Before Section 24 was introduced in 2017, landlords were able to deduct mortgage interest from their income tax - at that time it was also possible to offset mortgage application fees and some other loans. 

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Now tax is payable on all rental income upfront, even if - combined with an income from a traditional job - it moves the landlord into a higher tax bracket. Instead, landlords now have only a basic rate reduction from their income tax liability for their finance costs of 20 per cent.

So far the petition still has fewer than 40,000 signatures despite widespread publicity in the trade press and amongst some industry groups.

In the New Year the government made an official response to the petition, insisting its tax policy was fair and had to be seen not only in the context of landlords but as part of tax policy across the housing market.

If the petition reaches 100,000 signatures by its closing date of May 10 it would be likely - although not guaranteed - that there would be a Parliamentary debate on the subject.

You can sign the petition here: https://petition.parliament.uk/petitions/627785

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    I've signed even though it doesn't directly affect me, this government isn't going to reverse it and the next government, which will be Labour, certainly won't.

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    Already signed it but not holding my breath. Either the govt is too stupid to realise what damage they are doing or they just don't care.

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    I have also signed. It is an ugly reflection of the apathy of too many landlords that they haven’t stepped up.
    There are 2.4 million private landlords and without taking unity seriously we may as well be peeing in the wind on this and all other destructive policy’s crippling the PRS

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    Anthony, you are absolutely right Apathy fits the bill and you can include me in that. Where was the petition to save Section 21, there wasn’t any the bigger issue.
    Without S.21 we won’t be buying anything so S.24 becomes become less important it can’t apply to non purchases, let them get on with it.
    I don’t know why we have to be the one to worry about everything the only one’s doing anything, and paying for all.
    Maybe Diane Abbot has the answer to build 150k properties for Social Housing then keep them all on Benefits, one little problem where’s the finance, tax payers had enough and landlords already taken to the cleaner.
    She is also going to outlaw pay to view. I can’t see anything wrong with it, Agents need terms & conditions as well and can’t be sending staff out in cars on wild goose chases especially now with ULEZ, even though I never did it but sometimes I believe the viewers were just having a nose.

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    So pay to view Michael, is that really happening ? my agent tries to get the viewings close together, if there's an out of hours viewing I will do it for them, still I suppose it's a bit different down the smoke

     
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    I've signed it and so have some of my tenants. Quite a few of them are bright enough to fully understand their rent wouldn't need to be at the level it is if Section 24 hadn't happened.

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    Jo. I’ll give you 10 out of 10 for having the heart to do it.
    So if it wasn’t for Removal of Section 21, introduction of licensing Schemes and Section 24. Rents would be 25/30% less yet they continue to pull the wool over the Tenants eyes purporting to be their friends, how can they treat Tenants with such contempt 👀 .

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    Only 59 signatures in the last 24 hours. Need to average over 1754 per day to get to 100k. Looking slim to nil.

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    The Govt wouldn't change anything anyway. Taxing LLs is popular.

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