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”. 
To calculate the impact of this policy on your personal finances download this software
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Budget 2015 Campaign
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Member Since July 2015 - Comments: 154
6:02 PM, 10th August 2015, About 11 years ago
As a 40% tax payer I tend to explain the limiting of the tax relief to 20% on finance costs as the government increasing my funding costs by 33.33% (e.g. £10,000 gross interest would be £6,000 net of tax and increased to £8,000 net of tax with the change in the budget).
People seem to relate more to the increase in funding costs than they do to removal of tax relief.
Member Since October 2013 - Comments: 1020 - Articles: 47
6:03 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “John McKay” at “10/08/2015 – 15:48“:
Hi John
This is a very useful site, with lots of links to the petition.Well done!
I have the following comments:
At http://saynotogeorge.co.uk/landlords/ it states:
“Under the proposed tax system, because Dave and Margaret will not be able to offset any of their mortgage costs against their rental income, they will become higher rate tax payers and their individual taxable income will increase to a staggering £400,000, the same as their rental profit because they lose their personal allowance at £121,000 each. “
This should read: “their individual taxable income will increase to a staggering £200,000 each…..”
At http://saynotogeorge.co.uk/business-owner/ it states:
“If he can do that in the housing sector, then he can do it in any other one. Just think for a moment what your biggest cost is in your business. What would happen if you were only allowed to offset 20% of that cost? “
This is not what is going to happen to us. However, it’s too complicated to ask what would happen if his biggest cost were disallowed, then 20% of it were deducted from his tax bill, so I would suggest “What would happen if you had to pay an extra tax of up to 25% on that cost? “
Finally, I must say that I had to strain a bit to read the text because of its light colour.
Member Since September 2013 - Comments: 771
6:16 PM, 10th August 2015, About 11 years ago
Hi Mark
I have emailed Rosalind Renshaw, the editor of Property Industry Eye, won the Lifetime Achievement award at this week’s LSL property press awards.
She has emailed back asking for a specific link to forum
I have informed her the next property crash will be 2020
Please supply thanks
Member Since September 2013 - Comments: 771
6:26 PM, 10th August 2015, About 11 years ago
Can I also have your email address because I think she would prefer speaking/emailing direct with you.
Member Since July 2015 - Comments: 69
6:29 PM, 10th August 2015, About 11 years ago
That’s great Kathy.
Member Since July 2015 - Comments: 29
6:32 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “KATHY MILLER” at “10/08/2015 – 18:00“:
Assume ‘ Selling UK property’ means properties where you live?
Member Since September 2013 - Comments: 771
6:32 PM, 10th August 2015, About 11 years ago
Hi Ros
I wish I could do cartoon drawings yesterday in my head I pictured 2 great vultures with D Cameron and G Osbourne faces on picking over the remains of the buy to let sector.
Wouldnt it be great if we could put it on one of them flasing bill boards in cities!
Member Since September 2013 - Comments: 771
6:36 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “G Cox” at “10/08/2015 – 18:32“:
I think it means all property because it was in the investor section
Member Since July 2015 - Comments: 197 - Articles: 3
6:50 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “Appalled Landlord” at “10/08/2015 – 18:03“:
Thanks AL. I’ll incorporate the changes later. Perhaps with the bit about adding 25% to the cost I might add in ‘and to add insult to injury, possibly be shifted up a tax bracket too?’
I agree completely about the text. It’s one of Gary’s favourites but I’ll see what I can do to get him to change it. 😉 I viewed it on a PC, I hat to think what it’s like on a phone or tablet.
Member Since July 2013 - Comments: 303
7:05 PM, 10th August 2015, About 11 years ago
Nearly five hundred signature between last night & now !!!
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