ALL Wessex attendance at the “Axe the Tenant Tax Summit”

Filed in Landlords by on 16th June, 2016 0 Comments

People crowdCall for Landlord Support 6th October 2016:

Note: apparently tickets are required for the following event and they have all been sold out!

A public and open Permission Hearing for a Section 24 Judicial Review has been set to take place at the Royal Courts of Justice on 6th October between 11:30 and 15:00. All landlords are invited to attend.

Section 24 introduces new legislation that will prevent landlords off-setting buy-to-let mortgage interest against tax. If it is introduced many landlords will not achieve an annual profit, some will end up paying more to HMRC than their rental income.

HMRC and Axe the Tenant Tax legal team will present their case to a judges as to why a Judicial Review should or should not be allowed to proceed to the next stage. Cherie Blair QC MBE, Conner Quigley QC and national media will be present.

The Axe the Tenant Tax team would like lots of support and are asking for as many landlords to come and support them. This is a real opportunity for landlords to show a physical presence. Join them to watch and hear the case unfold live and to fully understand the views of HMRC and Axe the Tenant Tax views on the Judicial Review. The Judge will give the ruling and national media will be present to hear the outcome.

Rob Crawford Chairman for ALL Wessex was hoping to attend subject to getting a recently announced ticket!

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ALL Wessex attended the “Axe the Tenant Tax” summit in London yesterday (15th June 2016). Rob Crawford, Estera Cwiklinska and Angela Hardacre represented ALL Wessex. The summit was aimed at encouraging and motivating landlords to help fund a Judicial Review of Clause 24. Clause 24 will prevent private landlords from offsetting mortgage interest costs against tax. This will impact all landlords who have buy-to-let mortgages to some extent. Higher earners will be hit the hardest and may result in those landlords selling up. Other landlords may address any loss by increasing rents.

Over 500 landlords and letting agents attended the summit. Presenters included the founders Landlord Chris Cooper and Steve Bolton who explained why clause 24 is unjust. Other key presenters included Lord Howard Flight, a Conservative MP who is actively supporting this cause. It is clear that cracks are appearing within Government and opposition is mounting against the introduction of clause 24. Motivational presentations included those from BJ Cunningham who has personal experience of a Judicial Review and Chris Akabusi who’s presentation was titled “Think Big and together Let’s Axe the Tenant Tax”. Richard Dyson, Personal Finance Editor at the Telegraph Media Group is one of the most vocal critiques of the raft of anti-landlord measures adopted by the Government communicated his continued support of the cause.

Cherie Blair QC briefed the Patrons (this includes ALL Wessex) of the Axe the Tenant Tax cause on the legal position whilst Westbourne Communications briefed their communications plan.

To experience a gathering of so many landlords in support of a common aim was refreshing, however, there was significant concern that many landlords do not understand how clause 24 will effect them. Empathy is rife with landlords and this needs to be addressed, we all need to be involved and work together to address this significant threat to our businesses.

Rob Crawford, ALL Wessex Chairman, has committed to encourage all landlords and other landlord organisations and letting agents in the West of England to support the Axe the Tenant Tax cause.

About the Author ()

Rob Crawford is the chairman of the Association of Local Landlords (Wessex). Rob is a practicing landlord with a property portfolio that includes small private residential properties and HMO's. Rob is a qualified letting agent and former owner of Kingfisher Lettings & Management. He is now a share holder of the successful online lettings company Lettingsupermarket.com.

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