Summer Budget 2015 – Landlords Reactions

UPDATE

In light of changes in market conditions I have completely re-written the Property118 business plan. Please see the link below
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Reply to the comment left by “Trendo ” at “16/08/2015 – 11:05“:

I was responding to this from Ros’ post.
1. GO talked about introducing finance policies that were common in the G7 countries – i.e. that we should be more in step with the most advanced countries. 3 of these are Italy, Germany and France – and in a report on the PRS supplied on this site a few days ago, there was a detailed table which, apart from showing the UK taxes landlords more than nearly all of the other European countries, that no other country apart from Finland does not allow finance costs to be offset. My question then is: why is the Chancellor moving us away from this being in harmony with other countries and moving us to the Finnish model?

I (Connie) researched to find out what percentage of tax they pay if they couldn’t offset interest, but I think they can. At least the document I found seems to suggest that the Finnish model allows finance to be deducted from rental income. That was what I was asking for – clarification of this.

Are you clarifying this by providing a link similar to my link? You haven’t answered my query, so I am still (more in fact) confused. Does the Finnish system allow for interest deductions? Are we then to be the only European country not to allow this? That was what I was querying with the document I’d found.

Are you agreeing that Finland allows this, as I was attempting to show, but asked for a second opinion on?

Confused.

Apparently there is also a petition set up to legalise use of Cannabis. I have no knowledge of this subject but it is expected to bring £900 million by reducing Policing and creating more jobs.

Perhaps, Osborne is better off concentrating more on this sector which will bring him more than 3 X revenue as opposed to tangling with PRS.

@Saeef
Don’t worry it will come. Once he has driven all the landlords to smoking it. After that oit will be prostitution. I expect a mega brothel at Wembley when the football is not on..

Reply to the comment left by “Saeef Khan” at “16/08/2015 – 18:22“:

If cannabis is legalised it might reduce the number of cannabis farm horror stories for landlords too. I will not be presenting that idea at The Treasury though LOL
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LMAO Mark. There are £198000 signatures! So there is a possibility it may happen! Then Osborne may be able to fill his boots and may forget attacking innocent landlords.

As he is expected to rake in only £265 million pounds by coming after landlords but Cannabis legalising will bring him whooping £900 million.

Have you considered those who signed petition for Canabis getting on our side to reciprocate should they support our cause? LOL

You could make, off cut remark to Osborne advisers, ”Have you considered legalising Cannabis, so you can fill black hole? ” LOL

Just seen this… 13,633 signatures

https://www.estateagenttoday.co.uk/breaking-news/2015/8/estate-agents-urged-to-saynotogeorge

Reply to the comment left by “Mark Brown” at “16/08/2015 – 20:10“:

Yes Mark. I’ve been asked to write a press release to give more background on the site for this publication and for Letting Agent Today (sister publication). I’ve written it and sent it to some of the people on this site that I have email addressed for, asking for some feedback but not received any yet.

If anyone of them is reading this that was a gentle nudge 😉

Reply to the comment left by “Ros .” at “15/08/2015 – 20:16“:

Hi Ros

If you wish to do some from tenants view I have a couple of tenants who will send them. Most of my tenants tend to be long term and I don’t increase rents if they have been with me for a long time ‘. Where are they to go?, they wanted long term rental security which I would have given them, I didn’t intend to sell but pass the business to my daughter. If this is passed it will change everything.

I had a man of seventy contact me yesterday very very upset his landlord is putting the house on the market . Hes been there 8 years and does not know what to do.
GO does not care for anything or anyone especially the lower end of the population.

Reply to the comment left by “Ros .” at “16/08/2015 – 10:02“:

Hi Ros

Yes I give Mark permission to forward my email address to you.