Submitted on Thursday 31st August 2023
Rejected on Monday 4th September 2023
Current status: Rejected
Rejection code: duplicate (see below for details)
Reverse Section 24 for Landlords on mortgage interest payments
Reconsider and reverse Section 24, which limits mortgage interest tax relief for landlords. This policy has adverse effects on the rental property sector and property investors. By taxing expenses, including mortgage interest, landlords face financial strain and increases in rents
Exempting sole traders' expenses from taxes fuels entrepreneurship, economic growth, and creativity. Encouraging reinvestment stimulates job creation and innovation, benefiting both businesses and the economy. Simplified taxes enhance compliance, freeing entrepreneurs to focus on growth. Reversing Section 24 would promote a fair playing field for property investors and support a healthy housing market. Taxing expenses hampers landlords' ability to maintain properties and quality drops.
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The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
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petition.parliament.uk/petitions/642881
3.128.95.217 Thu, 07 Nov 2024 07:31:35 +0000
