A petition calling for the Chancellor’s tax relief plans for private landlords to be reversed has now achieved almost 49,000 signatures.
As such it is nearly halfway to the 100,000 signatures required for a debate in Parliament.
The petition has until January 27 to run and letting agents who are concerned at the threat posed to their own businesses are being urged to add their own signatures.
The Chancellor’s plans mean that private landlords would in future be taxed on earnings, not on profit, meaning that some would face the very real possibility of having to pay tax even if they had made losses.
The petition says: “The planned restriction will unfairly target us by preventing us from offsetting costs in the same manner as other sole traders. We ask that the planned restriction be reconsidered as it has unfair implications.”
There is concern that landlords may choose to exit the sector, reducing supply, or put up rents – thus hitting tenants in the pocket.
The petition is here: