Summer Budget 2015 – Landlords Reactions

LOL….I have copied and pasted 5th paragraph from daily mail’s article, here’s what Mr Carney says:

If landlords see their loan repayments overtaking any rental income they can generate, many will respond by selling their property – potentially accelerating a downturn in the property market.

Read more: http://www.dailymail.co.uk/news/article-3249279/Britain-s-buy-let-boom-growing-risk-economy-spark-house-price-crash-Bank-England-warns.html#ixzz3mmZJCV00
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SO WHY IS YOUR CHANCELLOR MAKING US PAY MORE THAN OUR LOAN REPAYMENTS!

I Have sent a thank you to Stephen McPartland MP for his question of David Gauke on how many landlords will be pushed in to the higher rate tax bracket…

We should be calling the restriction the “GO Tenant Tax” as it is tenants who will have to pay it and unless we get them and everyone understanding that, then it will pass into law and tenants will end up paying it.

Reply to the comment left by “Manchester Landlord” at “24/09/2015 – 08:36“:

I Have sent a thank you to Stephen McPartland MP for his question of David Gauke on how many landlords will be pushed in to the higher rate tax bracket…

We should be calling the restriction the “GO Tenant Tax” as it is tenants who will have to pay it and unless we get them and everyone understanding that, then it will pass into law and tenants will end up paying it.

Reply to the comment left by “David Price” at “24/09/2015 – 09:42“:

The only correct title for the tax change is “GO Tenant Tax”.

It is not universal on all turnover of all business & it is not written by Alice… BUT IT IS a tax which will be paid by certain tenants and it was written by George Osbourne = “GO Tenant Tax”

GO Tenant Tax, discriminates against tenants who chose to rent from landlords who don’t hide from their responsibilities as they trade as sole traders who have a mortgage on the property the tenant choses to live in. I don’t know why these tenants are being targeted like this by the government?

If we name it “GO TENANT TAX” it will resonate with tenants and tenant friendly media mouths and then we will get traction.

Reply to the comment left by “David Price” at “24/09/2015 – 09:42“:

The only correct title for the tax change is “GO Tenant Tax”.

It is not universal on all turnover of all business & it is not written by Alice… BUT IT IS a tax which will be paid by certain tenants and it was written by George Osbourne = “GO Tenant Tax”

GO Tenant Tax, discriminates against tenants who chose to rent from landlords who don’t hide from their responsibilities as they trade as sole traders who have a mortgage on the property the tenant choses to live in. I don’t know why these tenants are being targeted like this by the government?

If we name it “GO TENANT TAX” it will resonate with tenants and tenant friendly media mouths and then we will get traction.

I agree it’s an undercover tenant tax. It’s similar to VAT ( because it’s a tax on turnover and VAT is also based on turnover). VAT is a consumption tax and is paid by the consumer not the supplier.- so effectively tenants are now going to be paying a form of VAT! Left wing parties always wanted rent to be “except” from this type of tax so I wish they would wake up and smell the coffee!

I love GO Tenant Tax

Typo- should be Exempt (not except)

Reply to the comment left by “Saeef Khan” at “25/09/2015 – 19:36“:

No I don’t think I can do that, but it would be good if somebody who hasn’t yet done a submission could do one .

http://www.residentiallandlord.co.uk/if-jeremy-corbyn-became-prime-minister/

Furthermore, I feel that the Bacon and Associates’ Reports did not place enough
emphasis on the area of social housing, and in turn ignored those economically
most vulnerable within our society. Too much emphasis was placed on alleviating
the plight of the first-time buyer, yet to do so at the expense of the private rented
sector on which the basis of sustaining economic development is built, is at best
negligent, at worst almost criminal. Even then, measures aimed at ameliorating the
problem for first-time buyers have proven to be inflationary, which in fact quite
ironically worsened their plight.

However, despite the failure of the three Bacon and Associates’ Reports, I feel that
excessive government interference has heightened the problem. In essence, they
took the populist approach to this issue by choosing to place the blame on the
sacrificial lambs, the landlords and investors. However, they ignored the fact that
tenancy legislation in Ireland can be described as none other than disgraceful, and
even when proposed by Dr, Bacon, subsequently chose to ignore this topic
completely. What this failure on behalf of the government shows is an apparent
lack of strategic planning, short-termism and merely a reaction to the exigencies of
the moment in which a thorough analysis of the long-term effects of all measures
taken were not properly undertaken. This is most clearly shown by the amount of
times in recent years that the government has had to backtrack on decisions it has
made. According to Alan Cooke (Appendix 1):
“the government was very clearly in a hole. Like novices they kept
hedging bet after bet hoping that something would come and inevitably
when you make so many decisions some of them are going to be
absolutely disastrous and that is exactly what happened