Bid to reverse BTL tax changes demands government response
An online petition calling for the reintroduction of full buy-to-let mortgage interest tax relief and the abolition of the 3 per cent stamp duty surcharge has gathered more than 10,000-signatures.
The petition, which had received 11,892 signatures by Monday afternoon, now requires an official response from the government.
If it reaches 100,000 signatures before November 14, the appeal, which was launched on May 14 by Mark Homer, will be considered for a debate in parliament.
The controversial 3 per cent stamp duty surcharge on the purchase of additional or second homes, was introduced in April 2016.
A year later, the government began the process of reducing the interest tax relief that buy-to-let landlords can claim on their mortgages to the basic rate of income tax.
The petition claims that the measures are driving landlords away from the rental sector which is 'increasing homelessness' as tenants are faced with 'less choice' and 'higher rents'.
"It is time to review the tax changes on buy-to-let landlords. It’s clear that the availability of rental property has decreased and rents have risen markedly," it says.
"We call for policy change to end these disastrous tax policies which cause such profound suffering."
Back in 2016, Cherie Blair led a failed attempt to seek a Judicial Review of the changes to buy-to-let mortgage interest tax relief.
The case - which was brought by landlords Steve Bolton and Chris Cooper - claimed that Section 24 of the Finance (No 2) Act 2015 discriminated against individual landlords.