Landlords enjoyed a record £14bn in tax breaks in 2013, according to figures revealing the expansion of the UK’s buy-to-let market in the aftermath of the financial crisis.
So, how are we going to define tax break here?
Possibly by taxing someone on the profits their business made, not their turnover?
Property owners, who can claim tax deductions for a wide range of expenses when they rent out homes, claimed £6.3bn in tax relief against the cost of mortgage interest alone in the 2012-13 financial year. The scale of the tax breaks was revealed by HM Revenue & Customs after a freedom of information request.
Yes, yes, that is how we’re going to do it.