Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Michael Barnes” at “01/08/2015 – 09:28“:

Hi Michael – I don’t think you’ve understood my point. One of our key planks is that we are being unfairly treated in comparison to incorporated landlords. But we need to be able to illustrate this.

I’m well versed on what the tax implications are for me (a private landlord) but I recently heard it countered that the new dividend rules mean that incorporated landlords were being hit hard too, albeit in a different way. I don’t believe this is true but I’ve no way to demonstrate / illustrate it.

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “31/07/2015 – 23:40“:

E-mail with Q&A sent Friday night to [email protected], extracting and pasting in the sections relating to Tenants along with link to petition. However the more mail they receive the more likely to appreciate the seriousness of the issue.

Reply to the comment left by “John McKay” at “01/08/2015 – 09:12“:

I wrote the PDPLA piece about this and saw some of the reaction on here, so I just joined so that I can get feedback direct..
I think the distinction is that if you are a limited company then you are treated as a limited company for tax purposes whereas if you are handling your tax affairs as a private individual, then you are an investor and will be treated differently.
Your point 2 is just griping – sorry – but our tax system is not supposed to be fair, it is supposed to get enough tax from enough buckets to pay our bills and to do so in a way that no one tax gets wide enough resistance to make it uncollectable, so each group gets picked off and taxed separately and differently to others (and in response we all modify what we do and thus seek to reduce our liability). Its a shit system but that is how it works.

Reply to the comment left by “Jireh Homes” at “01/08/2015 – 10:37“:

Perhaps someone can enlighten me in regard to Shelter???

Generation Rent were quick to comment and applaud when the Chancellor announced the tax change, after all it was largely them campaigning for it. However I’ve not personally seen anything issued by way of statement from Shelter, who let’s face it, aren’t usually shy when it comes to sticking the knife in on Landlords.

Have I missed something?

If they truly haven’t commented, then it must be because they understand the ramifications of the change. They will be considering their stance on it and what, if anything, they should do.

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “31/07/2015 – 19:41“:

Your letter to the Chief Executive of your local council has inspired me yet again. I will be sending the same letter to the CE of Breckland District Council and also Norfolk County Council and urge others to do the same.

May I share this on Facebook, as I have been doing with the others?

I’m also looking forward to reading your slogan of the day. I tweeted the one from yesterday and it got several re-tweets.

I’m going to catch up on all the comments from last night and then I’m taking the weekend off. My eyes are hurting – SERIOUSLY!

I will catch up with you all again on Monday. Have a great weekend.
.

Reply to the comment left by “Dr Monty Drawbridge ” at “01/08/2015 – 10:36“:

Dividends above £5000 are now to be taxed, which is a lower threshold than currently.

I have sneaky suspicion that “Accountants” are happy with recently announced “Interest Relief Restriction” as this opens up further doors for them to do Tax planning hence more money they rake in fees.

As I humbly requested my Accountant to sign petition as well to send blind copy to his clients who are potentially affected, but he has seemingly ignored my email despite I sent this email few days ago as usually he responds back within 60 minutes even if it is Sunday.

Reply to the comment left by “Mark Alexander” at “01/08/2015 – 10:43“:

Mark Alexander,

Feel free to share the wording you are going to use when writing to your council Chief Executives on Facebook.

My slogan of the day was posted earlier. It is:

Call to Action – Stop Osborne destroying rented sector
https://petition.parliament.uk/petitions/104880

My mortgage advisor/IFA told me that, many accountants could not believe their luck as this will significantly enhance their (Accountants) income.

If your accountant is telling you don’t worry about it, we’ll deal with when we need to, you should smell a rat and then find an accountant who is genuinely interested in your financial affairs.

Reply to the comment left by “Jireh Homes” at “01/08/2015 – 10:45“:

Yes. And..? Can you see how an illustration would help? Two landlords, running very similar businesses but one is incorporated. It would help demonstrate 1) how arbitrary the tax is 2) that the policy is essentially a retrospective tax because it can be avoided going forward by new entrants into the market, meaning 3) the tax will not achieve a levelling of the playing field.