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Landlords step up legal challenge over buy-to-let tax

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Buy-to-let investors are looking to raise a further £250,000 in their bid to fight the cuts to mortgage interest relief set to be phased in from next year.

The Telegraph reports campaigners plan a summit in central London to add to the £50,000 already raised as part of plans to launch a judicial review against the incoming restrictions to mortgage interest relief.

In the July Budget Chancellor George Osborne announced the higher rate of relief would be gradually withdrawn over four years from April 2017.

The judicial review challenging the move is being led by Cherie Blair, and has been brought by landlords Steve Bolton and Chris Cooper.

Platinum Property Partners chairman Steve Bolton told the newspaper: “The days where ‘nobody loves a landlord’ must come to an end. We need to unite to show that we will not accept the victimisation of landlords and tenants by the out of touch political elite.

“They are deluded if they believe that they will go unchallenged when trying to reclassify ‘mortgage interest’ as anything other than a ‘normal business expense’.”

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