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The Tenant Tax Summit in London yesterday was THE most amazing event! Differences and agendas were put aside for the greater good of the landlord community.The heroes of the day, Steve Bolton and Chris Cooper created a very special event and platform to garner further support and awareness of the Judicial Review of Section 24.Steve and Chris have worked tirelessly and committed their own personal resources to this cause without seeking any form of payment for doing so. None of the speakers charged and everyone donated a huge amount of their time to making the event the success it was. Steve described it as a "co-alition" approach to fight landlord causes and unfair legislation.The energy in the room was inspiring and with around 600 landlords present, there was a tremendous buzz!I spoke to Steve Bolton about the aims of the event:NOW is the time for YOU to assist this cause and spread awareness much further and wider. It is believed that 97% of the U.K.’s 2 million landlords have 3 properties or less and are likely not engaged on landlord issues on a daily basis. These are the landlords we need to make aware of Section 24 and bring their vast numbers into our campaign!Below, I have created a social media press kit for you to use:The four key platforms recommended to be used are:FacebookTwitterLinkedINForums and communities such as moneysavingexpert.com, fool.co.uk, etc.We need you to create content, share content, and amplify content to reach as many landlords as possible.To make this as easy as possible, we have created a raft of ready-made status up-dates for you to share across the web - especially Facebook and twitter.Simply cut and paste the below messages onto your timelines:New Tenant Tax means half a million buy-to-let properties could be sold says @nationallandlord #landlordsfightback http://bit.ly/1qotysjWill the new Tenant Tax deter investment in buy-to-let sector? 86% of landlords think so http://bit.ly/1SMrKAo #landlordsfightback #Property Tribes EXCLUSIVE: Interview with Cherie Blair MBE QC on Judicial Review of Clause 24ow.ly/LgUm3015s7F @TenantTaxNumber of London landlords looking to sell has quadrupled since Summer Budget @TheMoveChannel #landlordsfightback http://bit.ly/1N87Rr2Rents will rise, supply will fall and tenants could be made homeless. Help abolish the Tenant Tax http://bit.ly/1S6DL3TLandlords! Stand together to fight the Tenant Tax - Section 24. Help @tenanttax take the Government to court. http://bit.ly/1S6DL3TThousands of landlords will be taxed on loss-making properties. Help @tenanttax take the Government to court. http://bit.ly/1S6DL3TLandlords with 40pc equity and a 3pc fixed mortgage would be making an average annual loss of £325 by 2020 http://bit.ly/1oSj98eAccording to @SpareRoomUK stats, nearly half of tenants will face higher rents as a result of new buy-to-let tax http://bit.ly/1SzzcOYAre you a landlord? Join the Tenant Tax Facebook group and share it with your friends to educate about Clause 24 http://ow.ly/D4Nk3013U8ILandlords unite! Support the Judicial Review of Section 24 to abolish tenant tax http://ow.ly/xIyn3013UEr #property @TenantTax Landlords! Find out more about the @RLA_News campaign against Clause 24 a.k.a. the tenant tax http://ow.ly/a6ci3013V4HLandlords! Do not be complacent! Section 24 is a threat to your business. Help @tenanttax take Government to court. http://bit.ly/1S6DL3TLike and sharePlease like and share the Tenant Tax Facebook pageOther actionsPlease make use of the resources provided by the Residential Landlords Association:Visit and share the RLA Section 24 campaign page.Your voice can make a difference, which is why we need you to speak to your MP about how you will be affected by the changes. Act now:Meet your MP Write to your MP If you have not already done so, please pledge your support:Crowd Justice Tenant Tax Fund Raising Page This is not a time for complaceny or apathy. The majority of landlords are sleepwalking towards disaster! ALL landlords and tenants will be affected by this tax and we urge you to stand up and unite with other landlords against this unfair regime.Related content:Property Tribes EXCLUSIVE: Interview with Cherie Blair about the Judicial ReviewLandlords unite! Support the Judicial Review of Clause 24 View the letter that the Judicial Review lawyers sent to HMRCAnalysis of the impact of Tax changes on landlords How will you be wording rent increases caused by Clause 24 to your tenants? Are you selling up or disposing of properties because of Clause 24?On behalf of all the organisations involved in the campaign, thank you for your continued support and for helping create a buzz and awareness via social media.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Please pledge on this thread what YOU are going to do to support the Judicial Review.
i have booked to see my mp mark harper on the 23rd march.
some info to leave him with regarding the JR etc would be good?
has anyone done any form of pack we can present him with ie with the Lords comments etc
Great BBC News coverage of the Tenant Tax Summit and Chris Cooper's story. (Segment starts at 3mins 45secs)BBC news coverage of Tenant Tax Summit
Judicial Review Co-Claimant, Chris Cooper, says "landlords are sleepwalking towards disaster".
Please keep up the great work. Chris is so right, there are so many landlords that do not have a clue about Clause 24. I live in Tokyo Japan and have met several other UK Landlords in Tokyo at Property Seminars. When I ask them how they are doing they say everything is great. When I ask about the impact Clause 24 will have on them they look at me like I am speaking in Japanese!
I have had to increase rents throughout the whole portfolio and explain this stupid and cruel Tenancy tax to our tenants. Clause 24 is stupid as it taxes on revenue rather than profit. Clause 24 is cruel as it ultimately punishes tenants.
All we need now is for the new Mayor of London to impose Rent Control!
I have been a London Landlord since 2003. My portfolio consists of HMO's, although I let them all on Joint Tenancies.
In view of this fantastic article in the Times, I might have to re-name this thread "Lord power!".Lord Flight, Lord Howard, Lord Lytton and Lord Catchcart have published opinion on Section 24 in the Times Red Box.Excerpt:The government’s assault on private-sector landlords is misguided and risks exacerbating the housing crisis.
Steps taken by the Treasury over the last 12 months to make buy to let more expensive and less rewarding for landlords will have the inevitable consequence of discouraging investment, reducing supply and forcing up rents, making it more difficult for tenants to save enough to buy a home of their own.
Restricting mortgage interest relief, imposing a three percentage point additional levy on stamp duty for buy to let and not including landlords in the recent capital gains tax reduction are all designed, in the chancellor’s words, to level the playing field between landlords and homeowners. This policy is based on a false dichotomy.
Through clamping down on buy to let, the Treasury considers it is preventing landlords from buying up homes that instead should be available for owner-occupiers to purchase.Full/source storyLord Howard Flight spoke at the Tenant Tax Summit last week in support of the Judicial Review. Here is a reprise of his interview where he calls Section 24 "crackpot, outrageous, and retrospective"!
A justification if ever there was for the House of Lords to continue operating as it currently does
Allowing a more reflective body to have the time to consider some of the absurdities of what some Govts attempt to do.
Then sending legislation back for sensible amendment.
The HOL facilitates less histrionic and more informed debate than the Commons
Let us hope that more of the Lords start to appreciate the absurdity of C24 and force Govt to abandon the whole C24 idea along with the other recent tax impediments
What a great interview with Lord Flight!
Would love to see some of his comments appear in Hansard!
As someone with a completely dispationate take on the PRS his opinions were so sensible.
Such opinion needs to be impressed on the rest of the Lords and all of the Commons
Leaving it until tenants start to be evicted will be too late by then
As he indicates it will be all b###ered up by then!!!
A most cogent understanding by a Lord of the whole C24 debacle and the other iniquitous tax changes being imposed on the PRS
We need a few more Lord Flights in this world!!
The RLA have this video on contacting your MP about the Judicial Review:
Thousands of landlords will be forced to sell up over the next couple of years amid Chancellor George Osborne’s tax hikes on the buy-to-let sector, new market analysis reveals.
The research by estate agents Maskells suggests that the changes to stamp duty, tax relief and new tougher mortgage application rules could make it harder to make a profit from letting property, which in turn will force many landlords to ‘dramatically’ increase rents to recoup their costs.Maskells believe that Osborne’s tax measures will result in an additional 163,000 homes on the market from landlord sales by 2017/18, which will result in an oversupply of homes for sale in parts of the country placing downward pressure on house prices.Full/source story