Landlords oppose tax regime changes

Cherie Blair QC, wife of former Labour Prime Minister Tony Blair, will represent landlords fighting  proposed changes to the tax regime against the  Government and HMRC at the High Court on Thursday.

She will argue against proposed changes to section 24 of the Finance (No.2) Act 2015, these changes would stop buy-to-let finance costs being a claimable business expense, if the changes were to take place then landlords with mortgages would pay tax on their turnover instead of their profit.

More recently some  landlords have turned to creating limited companies so as to purchase their buy-to-let property, by doing so they avoid being affected by the proposed tax reforms that would only affect individuals who own rental properties in their own names.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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