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 October 2013 - Comments: 1020 - Articles: 47
12:29 PM, 24th August 2015, About 11 years ago
Reply to the comment left by “Connie Cheuk” at “24/08/2015 – 11:57“:
Hi Connie
Please don’t waste any more of your time and energy on these people – they are irrelevant.
Member Since October 2014 - Comments: 282
12:31 PM, 24th August 2015, About 11 years ago
Reply to the comment left by “Matt Wardman” at “24/08/2015 – 12:19“:
The comments about landlords following the Telegraph coverage. I was up reading them last night; bitter people who think that we’ve all snatched our properties from FTBs, and society is paying all our fiances, as we’re all leeches.
Member Since October 2013 - Comments: 1020 - Articles: 47
12:32 PM, 24th August 2015, About 11 years ago
I received an email from Propertywire today. It had a feature on the withdrawal of the W &T allowance, but not on the interest levy. I replied as follows:
Dear Mr Clancy
You mentioned and featured the withdrawal of the wear and tear allowance in today’s email, but you did not mention something that will cost landlords much more, and will bankrupt some. This is the proposed change to the treatment of finance costs, also announced in the Summer Budget.
Many people don’t understand it because it is described in language that only a tax accountant understands. We need to make them understand what is planned for them.
Bluntly, if the sum of your total income plus your BTL finance costs (including interest) is more than £43,000, you will pay more tax in 2020/21.
If you want to do your readers a service you should explain the effect this proposed change will have, and how they can help prevent it.
The Telegraph is the first newspaper to explain the absurdity of what is planned, rather than just printing the Treasury’s press releases: http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11816720/Death-of-buy-to-let-landlords-wake-up-to-Osbornes-150pc-tax.html?fb_ref=Default
The website: http://saynotogeorge.co.uk/why-say-no/ shows in more detail how various groups of people will be affected, and how they can contact their MP.
This page: https://www.property118.com/contact-mp/77191/ describes what to write to him or her.
Many people wrongly think that they will be unaffected if they are currently basic rate tax payers. This page: https://www.property118.com/only-1-btl-and-hmrc-tax-me-out-of-business/77297/ shows how they may be pushed into the 40% band.
Finally, from the top of this page: https://www.property118.com/budget-2015-landlords-reactions/76164/comment-page-268/#comment-62071 they can download a spreadsheet which they can use to calculate their tax today, and what it would be in 2020/21.
It would be enormously helpful if you could send these links to everyone on your mailing list. I am sure they would be grateful to you for them. In fact, they need your help!
Kind regards
His email address is [email protected] for anyone who wants to reinforce the message.
Member Since July 2015 - Comments: 280 - Articles: 11
12:33 PM, 24th August 2015, About 11 years ago
Reply to the comment left by “Stewart Jackson” at “24/08/2015 – 10:30“:
Here is a link to the article by Richard Evans in the Sunday Telegraph.
http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11817375/Prudent-savers-punished-by-of-all-political-parties-theTories.html
Member Since July 2015 - Comments: 280 - Articles: 11
12:43 PM, 24th August 2015, About 11 years ago
Charirman of the Treasury Select Committee, Andrew Tynie, has criticised Osborn’s budget analysis – here is an article about it.
http://www.financialreporter.co.uk/finance-news/tyrie-criticises-osbornes-budget-analysis.html
Member Since July 2015 - Comments: 280 - Articles: 11
12:48 PM, 24th August 2015, About 11 years ago
Here is a copy of the letter from Andrew Tyrie to GO.
http://www.parliament.uk/documents/commons-committees/treasury/150810%20-%20Chair%20to%20George%20Osborne%20MP%20-%20Summer%20Budget%202015.pdf
Member Since July 2015 - Comments: 280 - Articles: 11
12:50 PM, 24th August 2015, About 11 years ago
And here is another letter from Andrew Tyrie to GO about making the tax system fairer.
http://www.parliament.uk/documents/commons-committees/treasury/150629_Office%20of%20Tax%20Simplification.pdf
Member Since July 2015 - Comments: 47
1:44 PM, 24th August 2015, About 11 years ago
Reply to the comment left by “Connie Cheuk” at “24/08/2015 – 12:31“:
Hi Connie please don’t take any notice of these people as you can’t reason with them they are unbalanced/unstable people and are best avoided. We appreciate all the work you have done for the forum.
Member Since September 2016 - Comments: 2533 - Articles: 73
2:24 PM, 24th August 2015, About 11 years ago
Reply to the comment left by “Michael ” at “24/08/2015 – 12:09“:
Thanks for the link Michael. I just joined the website and in the comments section urged people to sign the petition and gave them the link.
Member Since July 2015 - Comments: 12
2:53 PM, 24th August 2015, About 11 years ago
Reply to the comment left by “Ros .” at “24/08/2015 – 14:24“:
Good thinking Ros!