Summer Budget 2015 – Landlords Reactions

I have received an email from the director of spareroom. He has said that they are unable to encourage their users to sign petitions other than ones they’re directly responsible for as they can’t control anyone else’s agenda.

But he has promised to definitely look at the link I sent though and read up on what’s being said as it may well be something they will want to look at and email their landlords to ‘generate a conversation around the issues.’

Fingers crossed it will have some impact. I’ll be looking out for the email in my inbox. If anyone else sees it before me, maybe they can post the result on here.

Reply to the comment left by “Shining Wit” at “03/08/2015 – 17:24“:

Same could be said for any business.

All we are asking for is to be treated like any other business.

Let’s not go around in circles over whether we are a business or not please. We have already done that to death earlier today and I have presented clear evidence from HMRC and Case Law that BTL landlords ARE indeed in business.
.

Reply to the comment left by “Shining Wit” at “03/08/2015 – 17:24“:

A Q i have been asking for nearly a month now ..with no sensible reply from any source: It either is a business or it isnt.

So SW how do you explain that if it has Ltd on the end of ownership title it is a business, but if Soletrader it isnt, bearing in mind they run identical models, in your answer please pay particular attention to the fact that soletraders often run “businesses” 10x bigger than Ltd within PRS

Reply to the comment left by “Shining Wit” at “03/08/2015 – 17:24“:

ACTUALLY, YOU COULD CLEAR THE MORTGAGE, AND BE ON A LEVEL PLAYING FIELD WITH RESIDENTIAL MORTGAGEES.

If we all had to pay down our mortgages the result wouldn’t be much different,….huge rent rises at the very least, bankruptcies, homelessness etc etc. We pay a higher rate of interest, and are not as protected as those with a residential mortgage.

Comparing apples and pears doesn’t work.

Reply to the comment left by “Shining Wit” at “03/08/2015 – 17:24“:

Nonsense

Reply to the comment left by “Shining Wit” at “03/08/2015 – 17:24“:

If we were to accept that your argument was true and that we should not be claiming ANY interest as an expense as it is helping towards the purchase of a personal asset that we own, then by default that asset has no business value or investment value and as such no capital gains tax should be payable on it’s disposal. In your scenario the rent would be taxed as investment income but the asset should then not be taxed at all. It would then just form part of our estate for inheritance tax purposes.
I THINK I’VE GOT YA!!!

I’ve emailed three journalists on the business/money team at the Sunday Times earlier.

I doubt they’ll personally sign the petition but hopefully one of them will write an article to publicise this.

Reply to the comment left by “Shining Wit” at “03/08/2015 – 14:47“:

I have to agree with this sentiment.

I took me a while to get my head around this and by a circuitous way I can see how it can be seen as a tax on the interest.

BUT it is very confusing and the Chancellor has muddied the waters sufficiently already – we do not need to add to it.

Slogans for Monday evening:

Calling All Business Owners – Protest Against Budget Tax Plans to Restrict Finance Cost Relief – It could be your business next
https://petition.parliament.uk/petitions/104880

Calling All Private Rented Sector Tenants – Protest Against Budget Tax Plans that will Hike Up Rents
https://petition.parliament.uk/petitions/104880

Please share of social media.

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “03/08/2015 – 19:49“:

I have written to an email addressed to RLA addressed FAO Alan Ward, and to [email protected] (their press release guy) with the link, Q&A, etc.

Sorry, I’m not sure whether anyone else has written already. I am losing track.