Two landlords are leading a legal challenge to a section of the Finance Act 2015 which has led to widespread anger amongst landlords within the Private Rented Sector since Chancellor George Osborne first announced the controversial proposals in the post-election Budget in July.

The Finance Act 2015 includes Clause 24, and the lead claimants in the legal challenge, private landlords Chris Cooper and Steve Bolton say that this clause overturns a fundamental financial business principle, whereby 'INCOME' less 'COSTS' equals 'PROFIT.'

They are now seeking a Judicial Review in the courts and have engaged the services of an eminent law firm led by Sarah Hannett of Matrix Chambers along with Omnia Strategy. Matrix has been quoted as being 'the first chambers for complex and difficult legislation'. One of the firm's founders is Cherie Blair QC, wife of the former Prime Minister Tony Blair.