Summer Budget 2015 – Landlords Reactions
2:00 PM, 8th July 2015, 11 years ago
9619
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The concern is;
Budget proposals to “restrict finance cost relief to individual landlords”. 
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Budget 2015 Campaign
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Member Since July 2015 - Comments: 280 - Articles: 11
11:01 PM, 31st July 2015, About 11 years ago
The BTL tax changes are getting coverage in the press. We can expect this to continue now that a petition has been started. The Sunday papers should make interesting reading.
People are signing the petition. However, some landlords still don’t seem to understand what this is all about judging but some of the comments I am seeing elsewhere.
What more can we do?
Do we need to do more to show that some landlords who are basic rate tax payers could be affected?
Attention landlords who are basic rate tax payers – this tax change could affect you!
https://petition.parliament.uk/petitions/104880
Member Since September 2016 - Comments: 2533 - Articles: 73
11:03 PM, 31st July 2015, About 11 years ago
Reply to the comment left by “Appalled Landlord” at “31/07/2015 – 22:52“:
Sorry, Appalled. My eyes have glazed over now. I’m like Homer Simpson and his ‘blah, blah, blah’ when things get a bit complicated.
I’ve never put my figures into any calculator (sounds painful) – but I’ll give it a go soon.
Member Since July 2015 - Comments: 280 - Articles: 11
11:18 PM, 31st July 2015, About 11 years ago
Another angle for social media headline:
Lack of consultation on tax change concerns landlords – sign petition to ensure Parliamentary Committee debate.
https://petition.parliament.uk/petitions/104880
Member Since July 2015 - Comments: 280 - Articles: 11
11:23 PM, 31st July 2015, About 11 years ago
Reply to the comment left by “Appalled Landlord” at “31/07/2015 – 22:42“:
My view is that landlords should not put forward alternative proposals for the Government to consider, at least at this stage.
Our clear aim should be to have this proposal withdrawn. If the Government want to come back with something else, they should engage with stakeholders before bringing out any further proposals. At that stage, once the current proposals have been withdrawn, landlords can consider if they wish to suggest possible alternatives that will have less impact
Member Since October 2014 - Comments: 282
11:25 PM, 31st July 2015, About 11 years ago
Reply to the comment left by “Ros .” at “31/07/2015 – 23:03“:
Ros, YOU’RE right. When interest rates rise, we’ll be hit by a bigger tax bill. Remember that it is added onto the income (as though it were income). Any tax relief is deducted AFTER. That’s why there will be tax to pay even when the income is equal to (maintenance etc) costs – i.e. when there is zero profit. The tax is derived from the finance.
The ‘relief’ afterwards is like a tissue for you to cry into – little and too late. The sting has already been added, much earlier, and this is how it can push those in basic tax band to the higher band.
Member Since July 2013 - Comments: 1434
11:30 PM, 31st July 2015, About 11 years ago
Anyone got any ideas how we could persuade Shelter that this is bad for tenants?
Member Since July 2015 - Comments: 280 - Articles: 11
11:40 PM, 31st July 2015, About 11 years ago
Reply to the comment left by “Michael Barnes” at “31/07/2015 – 23:30“:
Provide Shelter with evidence. Landlord organisations will survey members and this will show that some landlords will sell up, supply will be reduced and rents will go up.
Articles like this help as the author expresses his view on rent increases.
http://www.investorschronicle.co.uk/2015/07/16/comment/property-matters/tax-blow-for-buy-to-let-landlords-uSYQqWsJL9Mjjzu1gUn9EO/article.html
Has anyone sent the Q&As to Shelter?
Member Since October 2014 - Comments: 282
11:52 PM, 31st July 2015, About 11 years ago
Reply to the comment left by “BTL INVESTOR SCOTLAND” at “31/07/2015 – 23:40“:
I could do this tomorrow. I have spoken to workers there before – objecting to how they depict private landlords and that we should be working together. They made all the right noises, but I’m not sure whether that was just to appease me as I was on the phone for a long while.
I also volunteered at a homeless charity – crisis. I volunteered to help for their Crisis at Christmas event. I could contact both charities tomorrow.
Member Since October 2013 - Comments: 1020 - Articles: 47
12:03 AM, 1st August 2015, About 11 years ago
Reply to the comment left by “BTL INVESTOR SCOTLAND” at “31/07/2015 – 23:23“:
Hi BTL I S
The comment you replied to is about what would happen if interest rates go up. It did not imply acceptance of the proposal.
My second reply to Ros was light-hearted. I don’t think for a moment that she would suggest an alternative to our George.
Member Since October 2013 - Comments: 1020 - Articles: 47
12:16 AM, 1st August 2015, About 11 years ago
Reply to the comment left by “Connie Cheuk” at “31/07/2015 – 23:25“:
Hi Connie
An increase in interest will reduce our tax.
Please see the posting of 22.42 on the previous page:https://www.property118.com/budget-2015-landlords-reactions/76164/comment-page-179/#comments