Axe The Tenant Tax Awareness Week – Get Involved

by Property118.com News Team

8:22 AM, 4th April 2017
About 2 years ago

Axe The Tenant Tax Awareness Week – Get Involved

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Axe The Tenant Tax Awareness Week – Get Involved

This Thursday the much-maligned Section 24 comes into effect.

The Axe the Tenant Tax coalition are marking this important day with a stream of new content featuring the RLA, NLA, ARLA, landlords and various coalition partners, in a new drive to raise awareness amongst landlords who as yet still don’t know the gravity of the issue.

We are calling on all our supporters to join us this week for campaign updates and the latest news on the fight against Section 24. We are asking landlords to do everything they can sharing this content far and wide on all the social media channels, local news networks, local papers, their MPs, and in all other resources to help amplify the efforts of the Tenant Tax team.

Even if you are not personally affected by Section 24, your support and voice is necessary to the campaign – you never know who might be the next target for an attack by the government!

Please check out the Axe the Tenant Tax Facebook page Click Here

The Tenant Tax website for all the videos, content and more on how to get involved>> https://www.tenanttax.co.uk/

Please keep an eye on the Facebook page and website each day for new content, and – if you haven’t already – GET INVOLVED!



Comments

Dr Rosalind Beck

8:40 AM, 4th April 2017
About 2 years ago

I think one way to make a difference is to write to politicians and journalists and anyone else you can think of. There are all kinds of ways of getting the message across. If we all said we would do one thing each day this week - even if it's an email, then that could make a difference.

To get the ball rolling, I wrote the following on the Shelter FB page yesterday:

'On the news this morning, Kate Webb of Shelter, was talking about the increase in temporary accommodation in London. Apparently it's because landlords are increasing rents. Well, I and many others have been telling Shelter since July 2015 that rents will rise because of Section 24. Personally, in South Wales I have increased rents on tenants in situ in two increments so far by about 5% on average each time. I never did this before. I am doing it because my effective tax rate on my profit/salary from my business (I have no other income) of between £40,000-£50,000 each year (it varies depending on voids, arrears, damages, cannabis farms etc) is now increasing each year so that by 2021 I will pay 44% of this to the Exchequer rather than the 24% I pay now. Obviously I will have to 'absorb' some of this; but I will also need to maximise my return by increasing rents or I could go bust and have to evict all my tenants. I house many tenants in houses for between £300 and £400 a month - similar to Housing Association rents; in fact, it's often cheaper because I pay tax on any profit, so this goes to the Government. I would like to know what the highly-paid staff at Shelter would do if their income tax rose from 24% to 44%. Also, because the new tax is not related to the profit of the business but rather tied to interest rates (it is, bizarrely, a tax on finance costs AS THOUGH THEY WERE PROFIT AND STILL IN OUR BANK ACCOUNTS WHEN IN FACT THEY HAVE BEEN PAID TO THE LENDER), some landlords are facing increases in their tax rates from 20-30% to 80-90% by 2021. I ask again, would Shelter staff be happy to pay this? Patrick Collinson at the Guardian accused landlords last week of having a 'victim mentality.' Well, if he were asked to pay 80% of his salary in tax, I think he might feel he was being victimised. Shelter's position on this is not only crazy; it is immoral. Any business which faces costs like this will obviously increase the charges for their services as a first or last resort. It is simple economics. Professor David Miles, formerly of the MPC, is just one economist who has pointed this out and urged that Section 24 be reversed. I suggest Shelter listen to economists or maybe even employ one, given the vast sums at its disposal, and actually listen to some common sense on this and make a public statement that it is opposed to this lunatic tax.'

I think it would be good if others go on that page and put the pressure on for them to reverse their stance. There may be a chance of this now that the vehemently anti-landlord Chief Executive, Campbell Robb has gone. Trying to sway Crisis would also be useful. But having a go at these is only one idea... Just thought I'd share it as it may get others to thinking about what they want to do for the campaign.


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