15:30 PM, 10th February 2017, About 5 years ago 1
“Clause 24” – Rent increase letter & copying in your local MP (cc Philip Hammond, Gavin Barwell, Local Council any others worth “cc”ing)
I think we all need to play out part in trying to filter back through our MP’s the dire effect “C24” will have – Most seem to have their head in the sand (My MP certainly does after writing to her twice & not interested in meeting in person) Surely if enough of us landlords did this the message would start to filter back to Parliament HQ
This is what I’m thinking of doing all new rent reviews the Section 13 notice will have a covering letter explaining C24 & why I’m being forced to put rent up & all future rent review’s MP & Hammond etc gets copied in on (Will defo send a courtesy message to tenant to get their permission prior to sending this rent review email)
My letter writing skills are not the best so any improvements/input on my suggested letter :-
Sorry to be the bearer of bad news however I’m having to review your current rent – Its a difficult decision but one that’s been forced upon me due to a new tax grab introduced by the Conservative party called “Clause 24” or now as more people becoming aware of this ridiculous taxation its being rebranded as the the “Tenant Tax”
Background behind this as of April 2017 all private landlords are no longer able to class their mortgage (Like myself this is normally their biggest running cost) as a business expense & instead this will be taxed as if it were profit received by the landlord – This is the only business in U.K. that now gets taxed on turnover & in some cases will mean landlords have to pay tax on a loss.
Sadly the knock on effect is most private landlords across the country (Anyone that has a mortgage & the bigger the mortgage the more tax is due) are going to be forced to either sell up as no longer finically viable or be forced to increase the rent.
I’m hoping not to be forced to sell up & instead put rent up to enable me to afford to pay my tax due on future mortgage payments – Money I have not received & yet being taxed on – This new law/tax grab starts April 2017
I would urge you to please right to your local MP if like myself you are not happy with government introducing this unfair taxation on tenants
Link to find local MP:- http://www.parliament.uk/mps-lords-and-offices/mps/
Please find attached Section 13 notice advising the new proposed rent details in full
(Maybe put something/clause in about rent dropping back if C24 was to get scrapped)
Thoughts/input please on the above from fellow 118 Landlords………
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