Craig Mackinlay – 2015 Parliamentary Question to the HM Treasury
The below Parliamentary question was asked by Craig Mackinlay on 2015-11-10.
To ask Mr Chancellor of the Exchequer, if he will estimate the annual additional taxation receipts arising from restrictions to Landlords’ interest deductibility from inception of Clause 24 of the Finance Bill 2015 in April 2017 through to its full effects coming into force in 2020-21.
Mr David Gauke
It is assumed that the questions refer to clause 24 of the Summer 2015 Finance Bill: relief for finance costs related to residential property businesses.
15897
The additional taxation receipts arising from restrictions to Landlords’ interest deductibility of the Summer Budget Finance Bill 2015 has been estimated and published in the “Summer Budget 2015: policy costings” page 21:
15898
The number of taxpayers who will become higher rate taxpayers as a result of Clause 24 of the plans to restrict finance cost relief for individual landlords will not be estimated. It would only be possible to provide an estimate for the specific years requested at disproportionate cost.
15899
The number of taxpayers who will become subject to Personal Allowance restrictions as a result of the plans to restrict finance cost relief for individual landlords will not be estimated. It would only be possible to provide an estimate for the specific years requested at disproportionate cost.
15895
No estimate is available of the number of people that will be subject to the provisions of the High Income Child Benefit Tax Charge as a result of Clause 24 of the Finance Bill 2015. The information requested could only be provided at disproportionate cost.
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