Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Connie Cheuk” at “29/07/2015 – 18:13“:

Hi Connie

Phil was writing about the purchase of an asset, not of a business.

Reply to the comment left by “syed shah” at “29/07/2015 – 18:30“:

Syed, this refers to the fact, that in 2020 basic rate threshold will be raised to £50k, this moment in time it is around £43k and after this you start becoming higher rate tax payer.

Shah G, app kee to lagta hai phat gaye hai…:-)

Reply to the comment left by “Connie Cheuk” at “29/07/2015 – 18:44“:

Hi Connie

That is correct; he was advocating the levy in his reply to a comment by Trendo.

Reply to the comment left by “Angela Bryant” at “29/07/2015 – 18:58“:

Hi Angela

Mark Alexander posted this on page 148:

TO ALL MEMBERS – IMPORTANT

Please STOP promoting Ruhal’s petition.

He has written to the House of Commons Information Office asking them to take it down and to replace it with ours.
.

Petition to the Parliament. Not sure if this petition has already been distributed here, so here it is. Please sign and share.

https://petition.parliament.uk/petitions/104880

Reverse the planned tax relief restriction on ‘individual’ landlords

We operate as sole traders and incur costs in the course of running our business. The planned restriction will unfairly target us by preventing us from offsetting costs in the same manner as other sole traders. We ask that the planned restriction be reconsidered as it has unfair implications

Here is a link to the Bank of England’s Financial Stability report on the housing market which sets out their concerns about the growth of the BTL market. Interesting reading.

http://www.bankofengland.co.uk/publications/Pages/fsr/2015/jul.aspx

Reply to the comment left by “Angela Bryant” at “29/07/2015 – 18:58“:

Yes Angela, it is moving very quickly. I suspect we’re not going to be able to replace it with ours but we are trying. In case you’ve missed why that is, we had a long debate as to the wording to use in order to highlight that many other people other than landlords will be affected.

However, if we can’t change it then it seems that the petition is going well anyway. So either way it looks like it’ll be a good thing.

However I have this minute just had an email from Milton Keynes Private Residential Landlords Association promoting the petition. I think we’re too late, what does anyone else think please?

The existing petition now has 544 signatures and is being promoted all over the property groups on Facebook.

Reply to the comment left by “Cristian Stoian” at “29/07/2015 – 19:11“:

No Christian. This is the petition we don’t want promoted. Can you mention this to any groups you know? The one we want promoted is hopefully going to replace this one very soon. I’ve got no idea how to try and stop this on Facebook. But if others do, can they get onto it? Mark isn’t available tonight as far as I know, so we have to go it alone!
I am thinking of an option though. If, for example, this petition reaches 10,000 before the second one can be up and running, it could be pulled at that point. Apparently, the Petitions Committee then has to discuss it. We can then put the second one up and get the hundreds of thousands we are aiming at, with the wider appeal that the second one has and get our Parliamentary debate. This may end up being the scenario, if the first one doesn’t get pulled quickly enough. We’ll just do some damage limitation. And then we can put BTL’s report with our petition, and circulate it as intended. And all the people who signed the first one can then sign the second one! Let’s see first what happens tomorrow with the Petitions Committee.
However, there could be a problem with what I just said, on reflection, as the Petitions Committee may then not allow the second one. Funnily enough, in its own guidelines it does not give ‘resembling another petition’ as a reason for not allowing a petition, so I believe they should have allowed both.

Reply to the comment left by “John McKay” at “29/07/2015 – 19:17“:

Hi John

It’s not a good thing because it will only attract the support of landlords. Ours will attract the support of tenants, their friends and relatives, and owner -occupiers, as well as landlords.