Judicial Review of Section 24 – Tenant Tax | Another £50K raised in two weeks
Following a record-breaking crowd-funding campaign, which saw £50,000 raised in just eight days, to launch a legal case against the Government on ‘ludicrous’ buy-to-let tax relief changes, the co-claimants have now completed phase two in just two weeks!
Steve Bolton, Founder and Chairman of Platinum Property Partners (Platinum), and fellow landlord Chris Cooper, are calling on all landlords, tenants, letting agents and others who will be adversely effected by this new legislation to support their cause.
Although they’ve raised £100,000 this is only a fifth of the ‘stretch’ target of £250,000 they need if they get consent to make a full court bid for a judicial review, and are still awaiting a court ruling on whether they can make the full bid. This decision is expected in the next few weeks and should it go ahead it is expected to be held this autumn.
A major event is also being in held in London on Thursday 9th June to not only raise funds, but to also increase awareness of the campaign and encourage positive and lasting action amongst the private rented sector before, during and after the event itself.
The ‘Tenant Tax Summit – Landlords Fight Back’ will highlight the plight of both landlords and tenants, with a common objective in mind – the abolishment of ludicrous legislation that will force the worst affected landlords to either sell their properties; thereby reducing the supply of rental properties and forcing tenants to find new homes; or increase their rents far more aggressively, making renting even more unaffordable.
Of course we do not want this tax, but we believe there is a much bigger scourge sweeping the PRS in the form of bad tenants.
Forget the likes of selective licensing, new buy to let affordability tests and the 3% stamp duty surcharge – do you know the actual cost of removing a bad tenant? Click here to find out!