Eliminate Section 24, the Unfair Tenants and Landlord Tax


Eliminate Section 24, the Unfair Tenants and Landlord Tax
The Issue
Section 24 of the Finance (No. 2) Act 2015, better known as the landlord tax, is a controversial policy that threatens the affordable housing sector in the United Kingdom. The legislation unfairly restricts residential landlords from deducting their finance costs, such as mortgage interest, from rental income for tax purposes. This unfair tax burden more often than not trickles down to tenants, resulting in inflated rental prices which many cannot afford. Considering housing costs are already notoriously high in some regions, further exacerbating this can lead to multiple socio-economic challenges. Reports signal an alarming rise of 22% in homelessness since the policy's introduction (Source: Shelter, 2019). We propose the repeal of Section 24, as it creates a significant obstacle to the provision of affordable housing and unfavorably impacts landlords and tenants alike. These reasons, and many more, call for our collective action. Please, sign this petition and advocate for a fairer taxation system. Enabling renters stability in rental properties.
597
The Issue
Section 24 of the Finance (No. 2) Act 2015, better known as the landlord tax, is a controversial policy that threatens the affordable housing sector in the United Kingdom. The legislation unfairly restricts residential landlords from deducting their finance costs, such as mortgage interest, from rental income for tax purposes. This unfair tax burden more often than not trickles down to tenants, resulting in inflated rental prices which many cannot afford. Considering housing costs are already notoriously high in some regions, further exacerbating this can lead to multiple socio-economic challenges. Reports signal an alarming rise of 22% in homelessness since the policy's introduction (Source: Shelter, 2019). We propose the repeal of Section 24, as it creates a significant obstacle to the provision of affordable housing and unfavorably impacts landlords and tenants alike. These reasons, and many more, call for our collective action. Please, sign this petition and advocate for a fairer taxation system. Enabling renters stability in rental properties.
597
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Petition created on 15 January 2025