Reintroduce the full mortgage interest relief

westernpromise

What would be fun is if MPs' expenses were treated in the same way: that is, every time they pay a £300 restaurant bill and claim £300 on their expenses, they'd be taxed at their marginal rate on the £300 expense payment.

They can't credibly argue that mortgage interest is not a legitimately deductible cost whereas their big fat lunch is. In fact, it's arguably less of a cost than mortgage interest, because they don't incur this expense in consequence of providing a service to constituents or customers.

There's a tax due on the use of a company car; why should MPs not pay income tax on the use of a restaurant?

chucknorris

It doesn't really affect me that much, as I have very low LTV mortgages, and I am starting to sell anyway. My wife is staying in for maybe another 10 years (she is 11 years younger than me), but all her properties are mortgage free apart from 1, and that is part owned with me.

But I do think that reducing the amount of interest claimable was very unfair, but that said, there are many other instances of where life is unfair. My attitude is, you have to take the rough with the smooth.

caronoel

HPC_Ghuol_Hunter wrote: »

One of the more interesting and paranoia soaked threads over at HPC goon central is this one discussing the petition for the reintroduction of full mortgage interest relief. It has it all, HPC goons imagining themsleves in a great world war against decent home-owners and landlords that apparantly deserve to be bayonetted in the trenches (it's even got some choice Star Trek quotes in there for Trekkie fans):

https://www.housepricecrash.co.uk/forum/index.php?/topic/232871-reintroduce-the-full-mortgage-interest-relief/&

As always the jealous RFLs are attempting to band together to get the removal of interest relief discussed in parliament and signed as law. Fortunately they have on manged to scrape together circa 330 signatories. If this pathetic number is not a bellweather indicator to the bitter twisted Bruce Spanners of this world that no one is interested in your house price crash nonsense then I don't know what else is.

You can sign the opposing petition to reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge here:

https://petition.parliament.uk/petitions/219279

:j:beer::rotfl::T:money:

Signed. Thanks to HPC for bringing it to our attention

HPC_Ghuol_Hunter

Yeah 355 signatories. This HPC petition is one fire.