A must read for landlords: Tenant Tax Summit

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In this guest blog Vanessa Warwick, Landlord and Co-Founder of PropertyTribes.com tells us about the Tenant Tax Summit.

On the 9th June, 600 landlords and industry stakeholders gathered in London for THE most important event of the 2016 landlord calendar - the Tenant Tax Summit.

Organised by Section 24 Judicial Review co-claimants, Steve Bolton and Chris Cooper, the event was to rally the landlord and property tribes to come together and unite against Section 24, which Steve Bolton described as “the biggest threat landlords have ever faced”.

Section 24 of the Finance Act 2015 removes the mortgage interest tax relief that landlords have enjoyed to date and the event created a launch platform for a coalition of interested parties to fight it and stop landlords “sleepwalking into disaster” - quote by Chris Cooper.

A stellar line-up of speakers gave insights into the progress of the Judicial Review, how it would affect landlords, the communications campaign, and what landlords could do to support it.

This amazing day saw agendas and differences of opinion being put aside for the greater good of the landlord community, and of course, tenants, who will be impacted by rising rents as landlords seek to mitigate the impact of Section 24 by passing on costs to them.

Both landlord associations were represented - the RLA and the NLA - and both made significant contributions to the fighting fund.

The lettings sector was represented by Belvoir, who also made a significant financial contribution.

The lending community was represented by Shawbrook Bank, whose M.D., Stephen Johnson, gave some insights into future trends in BTL lending.

Stalwart supporter Lord Flight also gave his views on the damage Section 24 would cause to the private rented sector and how little awareness there was within Westminster of the “unintended consequences” of taxing landlords on turnover, rather than profit.

Delegates were asked to brainstorm and contribute ideas to an action plan, which would be turned into a Manifesto to help the campaign progress.

Myself and my husband Nick Tadd gave a short presentation on how to engage other landlords in the Section 24 campaign, using the social web to reach out to them.  (See my Property Tribes social media toolkit below).

There was also “star power” in the room with landlord and Gold Medal Olympian Kriss Akabusi closing out the event with a hugely inspirational talk about team work and what could be achieved by it, and also Cherie Blair, MBE QC gave a private up-date to key supporters. 

Interview with Cherie Blair

If YOU want more information on the plans and the action being taken, then check out the Property Tribes toolkit

 

 


Posted by Vanessa Warwick, Landlord & Co-Founder PropertyTribes.com on 15 June 2016

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