Earlier today it
was confirmed that Landlords have been refused permission to challenge proposed
changes to the taxation of income from buy-to-let properties - the so-called
Tenant Tax.
Landlords'
campaign group Axe the Tenant Tax, submitted at London's High Court that the
changes would be both 'unfair and unlawful', and that the case should go to a
full judicial review hearing. Mr Justice
Dingemans ruled the challenge 'arguable' and dismissed it.
Cherie Blair QC,
who represented the claimants, said that landlords face challenging times
ahead, in light of the 'very disappointing' result.
The changes, which are due to come into force in
2017, would stop landlords being able to claim buy-to-let costs for example, mortgage
interest payments - as a business expense. Landlords leading the campaign have
vowed to continue to take their case to the Government.
These changes
together with the imposition of a 3% stamp duty surcharge risk insufficient
rental properties being available to meet demand. See tomorrow’s article which discusses the
implication of this for the Oxford Property market.
No comments:
Post a Comment