Councils using ‘Intelligence’ to track down low EPC properties and fine £5,00015:08 PM, 29th March 2021
About 2 weeks ago 36
I had a very interesting discussion with a man last weekend who describes himself as an Innkeeper.
His establishment (three of them as he’s moderately successful) all sell beer, wines and spirtis as well as providing some letting accommodation. Therefore, he is ‘landlord’, albeit a different kind.
He thought the restrictions on finance cost relief were being unfairly applied to him. He is a sole trader, hence an individual landlord.
He couldn’t understand why his business was being singled out to pay more tax than the care home next door, or indeed any other business which doesn’t trade as a limited company.
Needless to say, he was very relieved when I explained to him that he was not affected by the proposed tax change and that it was only being applied to Buy-to-Let landlords. He was still baffled at why just one business sector was being singled out though, and said he had quite a few friends who invested into Buy-to-Let and that he suspects they are not aware of the Governments intentions.
Thankfully he had already signed the petition before I corrected his understanding 😀
You will find the rest of this story in the comments section below this article.
A Q&A sheet explaining the problem and the likely unintended consequences associated with George Osborne’s proposals can be downloaded here. Please feel free to copy, print, distribute.
To calculate the impact of this policy on your personal finances download this spreadsheet
A petition has been started – see >>> https://petition.parliament.uk/petitions/104880
Would you be prepared to invest just 15 minutes a day to campaign against the Budget proposals to restrict finance cost relief for private landlords?
Editors Note: Due to the overwhelming support and popularity of this article we must apologise that Property118 is physically unable to respond to all direct emails and telephone calls. We would be most grateful if you can comment via the thread below and the team of readers working with us will help pick up on all points 🙂
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.