Over 600 private landlords came together in London on Thursday 9th June to learn how the legal challenge against the government's hugely controversial tax changes towards the Buy-to- Let sector is progressing.
The Tenant Tax Summit which was initiated by two private landlords Chris Cooper and Steve Bolton, had a wide range of industry figures speaking including the politician Lord Howard Flight, former Deputy Chair of the Conservative Party, who expressed views on how the controversial Section 24 clause in the 2015 Finance Act can be overturned. The Olympic Gold Medal winning athlete Kris Akabussi, now a landlord himself, closed off the event with an inspirational talk on how to overcome life's challenges.
Since the 'shock' announcement in the post-election Budget from Chancellor George Osborne in July 2015, a coalition of landlords and associated property trade groups have come together to challenge the Section 24 clause with the aim of gaining a Judicial Review in the High Court. The 'Fight the Tenant Tax' campaign has been primarily funded by crowd funding and initially raised £50,000 in just eight days in December 2015 to commence a legal action. The fundraising campaign has now raised a further £100,000 with a 'stretch' target aim to achieve £250,000.