Oliver Romain 🏴󠁧󠁢󠁳󠁣󠁴󠁿🇪🇺 ☮️
Private landlords are the only businesses in the country who are unable to claim interest as a business expense. This means it is more profitable to set up holiday homes (where interest is an allowable expense). It’s helping to kill off rural homes. I have signed a petition to end this anomaly. https://petition.parliament.uk/petitions/627785
Petition: Reinstate tax relief allowing mortgage interest to be set against rental income

We want the Government to reinstate the ability of landlords to set the full amount of mortgage interest against rental income, before tax is calculated.

Petitions - UK Government and Parliament
Dec 7, 2022 at 12:26pmWeb
Show threadEurotechnoDec 7, 2022
@oliverromain that's definitely not fair ...
Show threadEurotechnoDec 7, 2022
@oliverromain btw signed 👍
Show threadEndemicEarthlingDec 7, 2022
@oliverromain Making interest paid by #landlords on their extra houses tax deductible was done in Australia in the 1990s and it significantly accelerated inequality (esp generational inequality) by pushing up property prices. This might sound great in the short term if you're hoarding houses, but comes back to bite everyone in a thousand different ways. It's a dangerous trap. Rates of home ownership have plummeted as more houses end up in fewer hands.
Adam Smith and Karl Marx agree on this one: landlords are hoarding a necessity and are not a legit business.
Want to save rural towns? Campaign to abolish tax breaks on interest for those selling holiday accommodation. And for the principle that #HousingIsAHumanRight that comes before anyone's right to maximise personal or corporate profit.
#UKpol #Auspol #housing #LandlordsAreCausingInflation #AusPol2022 #LandlordsAreParasites #HousingCrisis