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Managing Director, Jonathan Detheridge, has confirmed the company's support for a national campaign which aims to fight unfair taxes for private landlords by attempting to force a Judicial Review of Section 24 of the Finance Act 2015.

'The core aim of the campaign, started by two hard working buy to let landlords is to abolish Section 24 of the Act. Every business in the UK is allowed to offset costs against income before tax, but Section 24 will disallow perfectly legitimate finance costs, including mortgage interest for individual buy to let landlords. In simple terms, the Finance Act will overturn a long held and fundamental principle in business that, income, less costs equals profit', said Jonathan.

'If Section 24 goes ahead, the impact on the UK housing market will be significant as thousands of landlords will see large increases in the percentage of tax they pay. This will inevitably have a knock-on effect, resulting in rent increases for tenants, a reluctance for landlords to invest and many landlords will consider selling their properties, especially those that are pushed into higher tax brackets when they may well not even be making a profit at all. If demand for properties falls, house builders will simply reduce supply at a time when the Government is trying to achieve the exact opposite,' continued Jonathan.

Initial fund raising for a legal team led by Cherie Blair QC to make an application to the court for a Judicial Review was extremely successful, raising £50,000 within just 8 days via CrowdJustice earlier this year. If a judge considers that the case put forward is 'arguable', a Judicial Review hearing will be granted and it will be up to a court to decide if the 'Tenant Tax' is lawful or not. If a hearing is granted, we could expect it to happen this autumn. The next part of the fundraising process has started to enable the legal team to prepare the best possible case. Granger & Oaks urges landlords and other agencies to support the campaign too. For further information or to pledge support, please visit www.crowdjustice.co.uk/case/tenanttax/.

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