Scrap the mortgage interest tax levy before it forces tenants out and rents up!

Rejected 20 signatures

What the petition asks

The decision in the Budget to restrict landlords' right to offset finance costs of their businesses will lead to bankruptcies, repossessions, house prices falling, negative equity, higher rents, empty houses and homelessness. It will adversely affect landlords, tenants, home owners and businesses.

The justification for the misleadingly-presented and outrageously unfair 'tax relief' change for landlords effectively re-defines finance costs of business as taxable 'income.' It creates a dangerous precedent in business and was based on an idea (since proven false) that landlords enjoy a tax advantage over owner-occupiers. In fact, landlords are taxed more heavily (rental income; CGT) (sources: IFS, Policy Exchange, chief economists). As its central premise is wrong, we urge its abandonment.

Why it was rejected

There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.

We cannot accept duplicate petitions. We think this petition is similar to yours:

Reverse the planned tax relief restriction on ‘individual’ landlords

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Timeline

27 Jul 2015	Petition opened for signatures
28 Jul 2015	Rejected by the Petitions Committee

Key facts

Signatures 20

Status Rejected

Rejected 28 Jul 2015

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