Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Ros .” at “03/08/2015 – 21:33“:

I don’t get this ‘individual’ landlords. Landlords in ltd companies are also individuals… I find it annoying.

Ros,
I believe that in law there is an “entity” that can be prosecuted, taxed, etc known as a “person”.

A person can be:
– a company;
– an individual (a living person, like you and me)

The wording is legal speak (jargon) to state that it does not apply to companies.

Reply to the comment left by “Michael Barnes” at “03/08/2015 – 22:59“:

As I understand it, company losses are limited to the company and so your personal assets are protected. The company and the person are then seen as separate entities.

Sorry, that was for Ros, I think, not for Michael Barnes.

I am including a link to the petition in all email correspondences and sharing on facebook every few hours.

I need some help please.

I want to put together a list of all of the advantages that Homeowners have over landlords. The longer the list the better.

Somebody put a list together earlier today but there have been so many comments since then I can’t find it.

The list included; help to buy hence 5% deposit, cheaper insurance, the ability to take in a lodger without paying tax, no CGT on any capital appreciation on sale, no compliance such as compulsory gad safety certificates, higher lenders fees, higher interest rates etc. etc. etc.

Please include the above in your lists.

Thanks in advance.
.

Reply to the comment left by “Mark Alexander” at “03/08/2015 – 21:58“:

LETTING AGENT TODAY link: https://www.lettingagenttoday.co.uk/breaking-news/2015/8/5-000-sign-online-petition-against-ending-btl-tax-breaks

Reply to the comment left by “Mark Alexander” at “03/08/2015 – 23:08“:

Oh. the mortgage fees and higher interest. Government topping up the deposit, so it is 75% for a 5% deposit.

http://www.uswitch.com/mortgages/guides/help-to-buy/

Reply to the comment left by “Mark Alexander” at “03/08/2015 – 23:08“:

Private residence advantages:
– Famiy Home Allowance for inheritance tax
– Right to buy discounts (for some) = less interest, which is effectively a tax break

This new ISA for deposits? The government tops that up, too.

Insurance – higher for buy to let.

This is the e mail I am sending to my tenants:

Hi XXXX

Please sign this petition.

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

George Osborne announced plans in his Budget in July to change the way that some landlords are taxed. Whilst these plans don’t have a great impact on me, I have decided to help a small group of landlords to fight the Government’s plans.

Why am I doing this?

Because I think that the Government’s plans will be bad for the country. .

We are trying to show the Government that it is not only landlords that are affected. Tenants could also be affected as rents could rise.

This is explained in this article.

http://www.cityam.com/220861/bashing-buy-let-landlords-will-push-rents-and-hit-uk-economy-hard

Please help us spread the word about this petition. We need 10,000 signatures to get a response from the Government and 100,000 signatures to get a debate in Parliament. The petition was only launched a few days ago and so far over 7,000 people have signed. We are well on the way to meet our target but we need your support.

The campaign has more chance of being successful if landlords and tenants work together to have this tax change scrapped.

Please sign now.

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

Reply to the comment left by “Mark Alexander” at “03/08/2015 – 23:08“:

Lower finance deposit down, (higher LTV)
Cheaper finance rate,
No tax on finance (Landlord Levy),
No income tax,
No capital gains tax,
Cheaper Buildings insurance,
£1 Million pound inheritance tax limit,
£7k tax free rent a room relief,
Can just ask tenants to leave, no notice-nothing,
No HMO Planning restrictions,
No HMO Licence ‘s needed,
No EPC cert, Gas cert, Elec cert, Fire alarm cert, Emergency light cert, PAT cert,
No Housing Health & Safety or fire risk assessments
No Legionnaires Cert
No fire regulations

Reply to the comment left by “Jim S” at “03/08/2015 – 23:35“:

Are remortgage costs the same? I don’t know as I haven’t remortgaged yet.

Unregulated buy to let mortgages?

I didn’t take deposits from my lodgers, but deposits have to be logged.