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”. 
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Budget 2015 Campaign
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Member Since October 2013 - Comments: 1020 - Articles: 47
8:47 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “S.E. Landlord” at “10/08/2015 – 18:02“:
Hi S E L
Your post reads as if tax was being deducted from interest. We are trying to educate people away from the idea that they will pay tax on finance costs. What will happen is that the latter will be disallowed, making the deemed rental profit that much greater.
You mean “ £6,000 after tax relief and increased to £8,000 after tax relief with the change in the budget.”
But only the Treasury looks at costs that way. Business people prepare a profit & loss account, listing all the income and all the costs; the resulting profit is the only thing that they apply a tax rate to.
The extra tax will be equal to 20% of finance costs for someone who will still be in the 40% band. So 33.33% is quite an exaggeration. In fact it is 66.7% of an exaggeration! Even if you are pushed into the 45% band, you will pay extra tax equal to, at most, 25% of finance costs.
We must be careful not to undermine our case by claiming figures that can be disproved.
Member Since July 2015 - Comments: 69
8:59 PM, 10th August 2015, About 11 years ago
Guys, please do not forget to send email to your local letting agents.
As per my previous post, one of the letting agent told me that, at least 80 of his clients signed up petition as a direct result of I sending him link. If you time it by 7 (agents who responded) that equates to 540 signatures on average.
The strategy is so simple, go to google, type estate agents for example in Swansea, keep your emails open, and then copy and paste one by one in BCC (blind copy) column and then copy and paste petition link with few words of explaining. If all us do 20 agents each, and get 540 signatures we will reach 100 k in no time.
*** EDITORS ADDITIONAL NOTE – Link to this page >>> http://saynotogeorge.co.uk/letting-agent/ ***
Member Since September 2013 - Comments: 771
9:03 PM, 10th August 2015, About 11 years ago
Hi Gentle Landlord
Could Rightmove send it out to all the landlords on our behalf?
Member Since January 2011 - Comments: 12193 - Articles: 1395
9:08 PM, 10th August 2015, About 11 years ago
Hi Kathy
Rightmove do not deal directly with landlords. They only deal with their members, all of which are agents. They could contact them though. I wish they would. Fancy writing another letter?
Member Since September 2013 - Comments: 771
9:31 PM, 10th August 2015, About 11 years ago
Hi Mark
I have cut and pasted as Gentle landlord advised to all local estate agents.
rosalind renshaw I sent both links and her message back was
Thankyou!
Very interesting indeed.
So hopefully we will start seeing some articles appearing.
I will see what I can do regards Rightmove and Zoopla
Member Since January 2011 - Comments: 12193 - Articles: 1395
9:57 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “Gentle Landlord” at “10/08/2015 – 20:59“:
What was the exact text you used in your email please?
.
Member Since January 2011 - Comments: 12193 - Articles: 1395
10:02 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “KATHY MILLER” at “10/08/2015 – 21:31“:
Hi Kathy
Please send Rosalind Renshaw the links below.
She doesn’t like me, she sees Property118 as competition!
Links ….
http://saynotogeorge.co.uk/letting-agent/
http://saynotogeorge.co.uk/estate-agent/
http://saynotogeorge.co.uk/property-pension/
http://saynotogeorge.co.uk/home-owners/
http://saynotogeorge.co.uk/landlords/
http://saynotogeorge.co.uk/tenants/
http://saynotogeorge.co.uk/first-time-buyer/
.
Member Since July 2013 - Comments: 303
10:02 PM, 10th August 2015, About 11 years ago
@ Mark
Besides help to buy. It is going towards bringing the deficit down. It for this reason that they will try everything to delay the interest rate rise.
The boy who cried Wolf will keep on making statement. I have lost all professional respect for him..
Member Since September 2013 - Comments: 771
10:18 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “Mark Alexander” at “10/08/2015 – 22:02“:
That might work in our favour, get the competitive juices flowing!
Member Since September 2013 - Comments: 771
10:23 PM, 10th August 2015, About 11 years ago
Reply to the comment left by “shakeel ahmad” at “10/08/2015 – 22:02“:
Which they are aiming to do by 2020, then interest rate rises is not so important to G Osbourne. Good job we have Mark Carney .
Labour will build new council houses, but it wont be enough because the private rented sector will be destroyed and they will have to replace that.
I wonder how many voters will defect from the conservative party other this mess.