Petition calls for dropping of Stamp Duty surcharge on buy-to-let landlords
A property investor training organisation has called on the Government to reverse the tax clampdowns imposed upon the buy-to-let sector.
Mark Homer, who co-owns Progressive Property, has launched a petition which demands the Government not only reintroduces full mortgage interest relief for the benefit of private landlords, but also abolishes the 3 per cent surcharge on Stamp Duty for the purchase of additional homes.
The petition says: “We call on the Government to reintroduce full mortgage interest relief and to drop the 3 per cent Stamp Duty surcharge [which had led to] tenants having less choice and higher rents.
“There will still be a continuing growth in demand for housing and a significant part of this will have to be available through private landlords. It is time to review the tax changes on buy-to-let landlords. It’s clear that the availability of rental property has decreased and rents have risen markedly.
“We call for policy change to end these disastrous tax policies which cause such profound suffering.”
The petition also says that the Government’s measures had succeeded only in driving landlords out of the sector, increasing homelessness.
The petition runs until November and, as of 15 May, has attracted almost 5000 signatures. If it reaches 100,000 signatures, the Government will have to consider it for a Parliamentary debate.