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RLA Campaign Against Tax Changes Makes Headway

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RLA Campaign Against Tax Changes Makes Headway

According to the RLA, their campaigning to challenge proposed restrictions to mortgage interest relief is starting to make an impact in Westminster, with a surge of support from Tory backbenchers.

A number of Conservative MPs are now openly challenging the Government on the changes, which will see mortgage interest tax relief restricted to a basic rate, even for higher rate-paying landlords

Alan Ward, the RLA Chairman said:

"The RLA met Treasury Minister Lord O"Neill on the 3rd May. We have also met with a number of influential Conservative backbenchers including Graham Brady, chair of the 1922 committee, former Secretary of State for Wales David Jones MP and the Right Honourable Mark Field MP.

Since then a political head of steam has been building, with MPs becoming increasingly vocal about their concerns.

David Jones MP produced an article for Conservative Home expressing his concerns about the changes following a following a meeting with the RLA, with Graham Brady quoted in the Daily Telegraph expressing 'serious concerns" about the plans.

Mark Field MP wrote an article for City AM in which he warned that the changes would hit domestic buyers hard and could result in rent hikes, with landlords passing costs on to tenants.

And Conservative peer Lord Flight has publicly backed the RLA campaign, writing an article for the Daily Telegraph in which he claimed attacking buy-to-let would worsen the UK"s housing crisis.

Landlords Steve Bolton and Chris Cooper are currently seeking consent to initiate a judicial review on George Osborne"s MIR proposals. RLA policy director David Smith is addressing the Tenants" Tax Summit campaign rally for supporters on Thursday, June 9th. However, after seeking our own legal advice the RLA was warned there was little chance of success if we pursued an extremely costly judicial review.

Let us be clear about his - our actions are already seeing results with growing support for the RLA"s approach from MPs and Peers. But we need to keep up the pressure, especially on Conservative MPs.

More than 400 of you have already written to your MP about MIR and we are urging those who haven"t to do so now.

We are also asking you to arrange face-to face meetings with your MP to spell out the potentially devastating impact these cuts will have on you and your tenants. A guide on how to arrange a meeting with your MP is available here.

We also want to hear more about what you are doing to oppose the changes and exactly how they will affect you and your business.

For our part we will continue to put pressure on the Government to rethink this unfair tax-grab with a meeting already scheduled with the Prime Minister"s new housing advisor in July.

Together we can bring about change. So organise a meeting with your MP today to make sure your voice is heard."

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About the author

Martin Silman

Martin began his landlord journey 18 years ago, while working in an international role for a global telecommunications company. Since retiring he has extended his portfolio, which he manages with his wife, but has always focussed on the ‘small student HMO’ sector preferring to offer homes in the community for small groups to the more common ‘pack them in and take the money’ mentality. He has chaired the PDPLA for the past 9 years and has overseen the Associations transition from small local self-help group to a much larger and more professional institution which is recognised and listened to nationally. Alongside his PDPLA role, he also has leadership roles in a number of other local organisations – bringing his unique perspective, driving for change and increased use of technology while respecting the history that brought us here.

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