Summer Budget 2015 – Landlords Reactions

I noticed the link yesterday too….its at the bottom of the list of petitions. ….only had about 8 signatures. ….are multiple petitions on the same subject allowed???

There’s an example two pages back – For example.

A landlord earns £30,000 a year for his normal wage.

He also earns £30,000 per annum in rent from his rental properties.

£20,000 of which is mortgage interest, leaving £10,000 profit on his rental houses – he ,under the current system, pays tax at the 20% rate.

Now, after the rule changes HMRC take his wage to be £60,000 and he is taxed at that rate

etc etc

Choose examples which a greater number of people can relate to ie someone earning near the average wage (like most people will) but who has buy to let properties.
No sympathy will be derived for those who lose their £10,600 personal allowance!

The people have to imagine how much worse off they would be if something similar happened to them, I feel the examples refer to landlords who could be seen to be quite large anyway and may not garner as much sympathy…

two pennorth

Still no joy from the Petitions Committee. I just spoke to someone at the House of Commons Information Office and they have no telephone contact they can give to us. The member of staff said there was a backlog as there had been a sudden influx of petitions. I have emailed the committee marking it urgent as the member of staff suggested. I will keep chasing it up. We just have to be patient and carry on with our other efforts, lobbying and preparations etc. I think it is very important to keep writing to MPs, ministers etc., whenever we have something else we want to say. Personally, I think the personal stories could work very well with local MPs.

Reply to the comment left by “Ros .” at “28/07/2015 – 10:21“:

I had a Facebook Messenger chat with Ant Lyons at YPN Magazine this morning.

He has agreed to promote the e-petition to his database 😀
.

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “27/07/2015 – 23:39“:

That is very, very good.

You must be Scottish 😉

Reply to the comment left by “Ros .” at “28/07/2015 – 10:21“:

This is the Petitions Cttee. Perhaps tweet the Chair and landlords in the members’ constituencies email them directly with a standard email.

http://www.parliament.uk/business/committees/committees-a-z/commons-select/petitions-committee/

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “27/07/2015 – 23:39“:

Are you happy for me to send this to our local FSB (Federation of Small Businesses) policy committee in the hope that they will take it up?

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “27/07/2015 – 23:39“:

Absolutely brilliant…..

I do agree with Harold Levine though…..1 of the examples should include ‘Mr Average’…..£40K income with 1 or 2 BTL’s.

We are not much loved as a group and anything we can do that makes us a ‘normal’ person in the eyes of the public could help our cause

Reply to the comment left by “Harold Levine” at “28/07/2015 – 09:37“:

Quite right, Harold Levine. I am a teacher who decided to use my hard-earned savings for deposits instead of drinking away the money every Friday or enjoying lavish holidays. I was aware of the housing crisis and having started life on a council estate, knew that council stock had been sold off over the last 20 or so years. I did not exercise my right to buy the council flat in North London, which would have been a fantastic investment, but conscience got the better of me and I worked hard to save and vacate it for someone more in need instead, thus keeping it as council stock.

Buying flats in the private sector with my savings, I believe added to the economy, but more importantly I’d always had a fear of being homeless and knew the importance of having a roof over my head. I wanted to help provide affordable homes for those who couldn’t afford to buy or just needed to work in those areas. I had always wanted to own and let properties, but couldn’t do this in London.

When I moved out of London, I was a first-time buyer of my house, though I didn’t use any of the incentive schemes as I didn’t want a new build.

I have a lodger in one of the spare rooms who returns home to Ireland every weekend. The government is in favour of this type of let; seen as providing affordable housing for those in need and hence has increased the allowance to 7k in recognition. However, the government seems to be at the same time persecuting me for the flats I am providing, which are clean, warm and affordable as I am not out to make a killing. I only bought flats I could actually live in myself, not horrible, damp and cramped homes from those nightmare landlord programmes. My life savings went into the deposits.

I will now be forced to give up the day job or pay extortionate tax and it will be difficult to make ends meet without my regular income to supplement losses and voids. Keeping my lodger will help pay my own domestic bills, but I may have to let out another room.

It is bitterly ironic that providing homes for others has made me risk my own home! Selling my flats at a loss or going bankrupt from this tax are also very real possibilities. A further irony is that I voted Conservative for the first time, despite the censure and disbelief of my teaching colleagues! The death of a Socialist? I think so.

Reply to the comment left by “Lou Valdini” at “28/07/2015 – 11:10“:

Hi Lou et al.
Further update: received a call from the House of Commons. Petitions can take up to 7 days for ‘moderation,’ but in practice are a lot quicker, apparently. We just have to wait now.