The landlords are not sitting idly as the tax relief changes are enforced in all regions of the United Kingdom. The landlords aim on passing launching a legal challenge to counter the tax relief changes that Chancellor George Osborne recently enforced.
According to a past article released by The Guardian, there is a group that represents more than 250 landlords which has prepared to launch a court challenge in opposition to tax changes to buy to let coming into force in 2017, and these landlords are claiming of being victimized by the chancellor.
The same publication mentioned of how the landlords have attained and acquired legal advice from Cherie Blair's firm, Omnia Strategy, and they have indicated that their grounds to launch a judicial review of the tax changes, as well as their claims to the breaches of human rights legislation and European law are strong and firm.
Furthermore, it was conveyed by Headlines that Steve Bolton, who possesses £10m worth of residential and commercial property, has connected with popular landlord websites Property Tribes and Property 118 to brawl the changes.
Meanwhile, starting 2017, the tax relief for buy to let will slowly be cut to a flat rate of 20 percent compared with the 40 percent or 45 percent in which some landlords are at the present enjoying. In line with this, while some are happy with the changes, others are not to keen to have this policy enforced.
What's more, this is not the only problem that Chancellor Osborne is currently facing because even the Government's advisers on child poverty have urged George Osborne to make a second welfare U-turn, to prevent his proposed cuts to in-work benefits destroying the incentive to work for millions of low-paid people as stated in a report by Independent.
In addition, to pacify the conflict, both the chancellor and the landlords must see eye to eye and voice out their concerns to attain a passable resolution that will benefit both parties as well as the society.
