Summer Budget 2015 – Landlords Reactions

Hey James,

Living wage in 2020 !!! Would you know what the cost of living would be in 2020 ?,

Certainly be much higher than today with UK unemployment going down & EU economy improving.

Keeping in mind Mr Osborne waiting to hike up petrol duties & VAT another Tax on tax. This will filter through higher inflation/higher salary demand.

Reply to the comment left by “Jim S” at “09/08/2015 – 13:32“:

Jim…..making comparisons with limited companies is not that straight forward. No doubt going forward that structure will definately have advantages….but it really depends on how much you take out as income. Also ….don’t forget ….In the past non incorporated operators had a big advantage over limited companies. Ltd companies paid 20% corporate tax on every pound of profit…Whilst non limited operators could use up to 22k personal allowances (couples)

Reply to the comment left by “shakeel ahmad” at “09/08/2015 – 17:43“:

Living wage takes affect from next year. Don’t get me wrong….I think it was a harsh budget…..its just your man on the street will not see it that way

Reply to the comment left by “Ros .” at “09/08/2015 – 16:20“:

Hi Ros,

I wrote to my MP for Horsham, West Sussex Jeremy Quinn and got a reply which is clearly their standard reply showing no real understanding of the issue.

I also wrote to the MP for Crawley, West Sussex as that’s where the majority of our properties are and where we intend to make a lot of people homeless – as the government have forced us to do… But he couldn’t be bothered as I’m not resident there!

Angela

Reply to the comment left by “James Tallis” at “09/08/2015 – 17:50“:

The living wage that starts next year is a few pennies not even worth wasting time here. In addition it will not be coming out of the pocket of the Treasury.

John Heron, managing director of Paragon Mortgages, commented that as the proposed tax changes are being phased in over a six year period, they have seen no impact in the short-term nor are aware of any impact across the market as a whole.

“We don’t quite understand the level-playing field argument, landlords already pay capital gains tax on any increase in the value of the property upon sale, whereas it is free of CGT for homeowners.

“It seems that landlords are being made a scapegoat here for wider failings in the housing market, particularly for affordability constraints which are essentially driven by a shortage in the supply of quality housing.”

Reply to the comment left by “Angela Bryant” at “09/08/2015 – 17:59“:

Thanks Angela.
Duly recorded.
Yes, I haven’t written to the MPs in areas where I am not a constituent, for the same reason. Thanks for letting me know.
If you did feel like writing to some more people, you could target Ministers, as they at least have to receive your communication if you write to the email addresses for their departments – eg. Anna Soubry, Nick Boles etc. or people on the Treasury Select Committee. As I mentioned earlier, we may not always get a reply but we know we have possibly influenced behind the scenes.
Face-to-face meetings could also be good – as, if the MP knows you’re coming and what you’re going to talk about they may be more likely to actually do something.

Hi James

Maybe but thats not correct its just been pumped as such by the government.
2020 I think they said it would be £9.50 but that’s 4 years away. The lower waged will also lose it in tax credits. I believe a working family on 20,000 and 2 children will rec 2000 less in tax credits than now.

Its a shift in the payment from the government lowering the topping up via tax credits and the labour market picking it up. Still very poor at £9.50 and many small companies have told me they will have to cut a member of staff to pay it.
Also the pension part for every employee comes in , the drop in corporation tax will not be enough support for the small firms even with the break on N.I

It’s like when they say the 40% limit will start at 43000 and we are meant to think that’s great! The cost of living will swallow that up and the council tax is def on the rise. I see they are rebanding .

The local councils have had their budget continually lowered but given every power under the sun to stuff the general public.

2020 will be remember for the year the landlord’s died, if policy does not get amended

Angela

You will always get the ‘stock’ answer from a politician as a first off reply (they’re just toeing the party line).

You need to follow this up preferably with a face-to-face meeting.

Reply to the comment left by “Barry Fitzpatrick” at “09/08/2015 – 18:54“:

Why, should be towing the party line. They should be towing the voters line or their line of they have any.