Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Neil Allen” at “22/08/2015 – 18:24“:

Yes Neil

We are hated by a large section of the public, esp landlords who house people on benefits. I have been on the receiving end of quite a bit of abuse from certain neighbours of mine. All encouraged by the government who wish to clean us out for the big boys.
All the landlords looking to incorporate, I think we need cast iron evident that hes not coming after companies later.

My accountant thinks that it was done on private landlords as its an easy implementation to do and will not cost to much money, a company structure would cause a few more headaches to implement.

There’s also a lot of politics in this.

I think Osbo is after the cgt windfall from property forced to be sold in London/SEs which could be 10s of billions toward the deficit over 5 years ,and this isnoart of his pitch to Generation Rent.

It may also ease the London market for a few years while they get their bum in gear sorting out planning and housebuilding.

He may not have estimated his numbers right would imo be the best hope, but a compromise will be very carefully designed to preserve the political benefits.

Reply to the comment left by “KATHY MILLER” at “22/08/2015 – 19:31“:

Hi Kathy.
I’m trying to send you an email but getting a failed delivery message. Have you got another email address? If so, could you send me an email from that one and I can reply to it? I don’t know why it’s suddenly happening. It could be something my end…

Hi Ros

No I only have that one,sorry

I have just written to two journalists at the Mail – James Coney and Victoria Bischoff – asking that they also add their voices to this…

Reply to the comment left by “John McKay” at “22/08/2015 – 19:31“:

Absolutely John… Onwards and upwards

Reply to the comment left by “John McKay” at “22/08/2015 – 18:06“:

Hi John

Richard Dyson wrote “This tax change, which was called for by cynical politicians and commentators hoping to strike a populist tone, sets a new benchmark of absurdity in Britain’s already ludicrously complex tax regime.”

This idea did not come from the manifesto of the Labour Party led by the left-wing Ed Miliband. It came from someone much further to the Left than him – Natalie Bennett of the Green Party.

In her radio interview with Nick Ferrari https://www.youtube.com/watch?v=YzGyEXPDQBI,
before they got onto the social housing to be built out of our tax levy, she said that it was obscene that companies make a profit out of looking after old people: “When you look at private health care companies making profits out of End of Life care, the obscenity of that principle is very clear.”

Presumably these companies should do it at cost – or maybe cost less interest.

In her interview with Andrew Neill https://www.youtube.com/watch?v=5dFn8RIXOBE she said that the top rate of income tax should be higher than the 50% that Labour was proposing, but she didn’t know by how much yet.

She said they would raise £45 billion a year from a Wealth Tax of 1.5% on anything over £3 million, to pay for one-third to one-half of the NHS budget. He pointed out that this was 100 times what the French government raised with a threshold of a fifth of that figure triggering a 1.5% tax. The point made no impact on her.

He said people would leave the country, like they did in France. She said people would stay, because of friends and family!

She also defended the following proposals of her party:
UK immigration controls would be progressively reduced,
Membership of Al-Quaeda and ISIS should not be illegal,
Import controls should apply to items from the EU,
The arms industry should be shut down and their factories should build windmills,
The BBC should broadcast educational programmes at prime time.

On election night, Jeremy Paxman https://www.youtube.com/watch?v=QwTKdmMSK9w
asked her if campaigning against economic growth was the nuttiest thing in her manifesto.
He also asked “Is there no-one in your party who could have made a better job of being leader?” and then “You are the best the Green Party has to offer?”

She was free to spout dangerous nonsense, safe in the knowledge that her party would never be elected to implement it. Imagine her surprise and delight that George Osborne has adopted a policy of the loony left.

MP’s may think that the policy must make sense but they cannot quite see how. When we write to them we should state clearly where the idea originated. Then they will realise how the absurdity arose, and it will lose the credibility that they read into something just because it comes from the Treasury.

@Matt, I agree that he is after the windfall from CGT. In the same manner as he has deceptively done with Pension with drawl.

The beneficiary of the pension’s with drawl have either not understood or have not been advised that they will be paying up to by 40% tax of the value of their Pension funds if they withdraw the total amount.

I feel that they have just lied down and surrendered & not bother to fight. GO had assumed that landlords will just moan & go to the pub & forget about it, as 2020 is not on the horizon yet..

@Shakeel, totally agree Osbourn is after the CGT returns to make him look good for the leadership bid!

Plus favoring the corporates over individual landlords.

He has underestimated us!

@darlington Landlord.

If lobbying does not produced the desired results I am in favour of taking the matters to the Court & willing to contribute thousands towards a group action.

I am sure Mark as a no win to fee barrister lined up.

What is clear that GO is attacking the people who are in their twilight i.e. Pensions & buy to let landlords who had bought these properties not be Rachman II, but to retire in dignity.

SO perhaps feels that by offering them annual pensions rises a few percentage above RPI, free TV licence. winter allowance he could divert their focus.