Section 24 Tax Reforms

by Mark Alexander

17:03 PM, 1st May 2018
About 7 months ago

Section 24 Tax Reforms

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Section 24 Tax Reforms

Thank you for your interest in the Section 24 Tax Reforms, which will result in:-

  • Massive rent hikes (as proven when a softer version was introduced in Ireland and is now being reversed)
  • Landlords selling their rental properties (causing homelessness for tenants)
  • Less private sector investment into building more homes

Section 24 Tax Reforms increases the tax payable on providing your home, just like when fuel duty, tobacco duty, and alcohol duty are increased by the Government so does the prices you pay. Either that or being evicted if the property owner is forced to sell up.

This Government Tax Grab isn’t fair on anybody and needs to be challenged, especially by people who cannot afford to pay more rent and those for whom taking on a mortgage to buy a home isn’t realistic. We all need to be working together to persuade the Government of its poor judgment and to repeal this ludicrous piece of legislation.

ACTION YOU CAN TAKE

The orange text below links to other pages.

To spread the word, why not print an image of our Billboard onto a piece of A4 paper and ask your local shops (especially letting agents) to display it in their windows and on notice boards?

How about putting it in your car window?

Maybe you could send a copy to your local MP or Councillor?

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Let’s get creative!

Please share your ideas and successes in the comments section below.

Alongside our campaigning, Property118 has been helping as many private housing providers as possible to minimise the effects of the Section 24 Tax Reforms. By optimising the structure of their businesses to minimise, and in some cases to mitigate the extra tax, the impact on tenants is also reduced. You can read more about these structures via the link below.

Landlord Tax Planning

Show Book A Tax Planning Consultation Form

Book A Tax Planning Consultation Form

Consultations include new client compliance checks, fact find via email with complimentary software, expert analysis, a detailed written report and recommendations and a 30 minute Q&A session via Skype or telephone. We GUARANTEE total satisfaction or a full refund.
  • Please provide an overview of your circumstances and what you are looking to achieve.
  • If you have a spreadsheet with details of your properties please upload it here.
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Technical Information About Section 24 Tax Reforms

It has now been a year since Dr Rosalind Beck first published her paper on the Section 24 Tax Reforms, which has become widely known in the industry as “The Ros Report”.

Since then, Property118 has welcomed 1,000’s of new members who may be oblivious to this excellent piece of work. Accordingly, please see below a link to correspondence that ‘Ros’ had with The Treasury, and which also contains a link to the full report itself, which can be downloaded free of charge in PDF format.

The Ros Report: the Treasury defends the indefensible



Comments

B4lamb

0:25 AM, 10th October 2018
About a month ago

Reply to the comment left by Gromit at 09/10/2018 - 23:03
If you run your BTL as a proper business then you will be able to offet all of the interest against profit for taxation. It's just that as a sole trader the Government are putting the brakes on it as it's got too big and is seen as an economic ris I suppose?

Gromit

7:23 AM, 10th October 2018
About a month ago

Reply to the comment left by B4lamb at 10/10/2018 - 00:25
You insult the many thousands of sole trader Landlords who run their businesses professionally. Putting a business into a limited company doesn't automatically make it better or "proper".

B4lamb

8:07 AM, 10th October 2018
About a month ago

Reply to the comment left by Gromit at 10/10/2018 - 07:23
I never stated "better" and maybe should not have used "proper" but meant run a limited company and then all financial costs can be offset for tax purposes. I too am a sole trader and have BTL and run mine professionally through an agent. I opted for this route as it was a lot easier than starting a company but it has its drawbacks and I'm afraid section 24 changes are one of them.

Mark Alexander

8:16 AM, 10th October 2018
About a month ago

Reply to the comment left by B4lamb at 09/10/2018 - 23:44
We provide a tax planning consultation service to answer questions like those on a personalised basis. No two people or portfolio’s are the same so bespoke planing is required

Stephanie Pooley

6:02 AM, 23rd October 2018
About 4 weeks ago

Reply to the comment left by Gromit at 10/10/2018 - 07:23
Are we still attempting to fight the section 24 changes or asking for an alternative option

Mark Alexander

9:06 AM, 23rd October 2018
About 4 weeks ago

Reply to the comment left by Stephanie Pooley at 23/10/2018 - 06:02
Yes we are

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