Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Roanch 21” at “28/09/2015 – 10:24“:

Completed.

Talking about politics …..

I may be wrong but I would guess that most on this Forum would be centre right politically and traditionally Tory voters. After the summer budget the only other centre right party is UKIP.

Do the Tories actually realise that this one action will cost them 1 million (number of UK Landlords I think) votes? And do UKIP realise that they’ve just gained them?

Reply to the comment left by “Roanch 21” at “28/09/2015 – 10:24“:

Thanks Roanch

Before other readers do the survey,it might be helpful if they had a look at: http://www.theguardian.com/politics/2015/apr/29/tories-promise-tax-lock-in-latest-move-to-combat-labour

I saw Cameron announcing this “Tax Lock” in Al Murray’s spoof documentary about his election campaign in South Thanet.

The article states: “David Cameron will pledge to introduce a new law within the first 100 days of a Conservative government to prevent any rises in income tax, VAT or national insurance in the next parliament.” and
“In a keynote speech, designed to be one of the highlights in a week of Tory campaigning on the economy, the prime minister will say on Wednesday: “This is the clearest choice on the economy for a generation. And beyond the plain facts, it also comes down to gut instinct. When you’re standing in the polling booth, ask yourself: on the things that matter in your life, who do you really trust?
“When it comes to your tax bill: do you trust the people who taxed you to the hilt when they were in power and still haven’t come clean about the taxes they want to increase next time round? Or do you trust the Conservatives, who have cut income taxes for 26 million people and who will cut your taxes again next time?””

These are excellent questions from the PM.

And it was clever of him to stipulate 100 days – it allowed George Osborne to stealthily introduce an increase in income tax for landlords before that period expired.

Reply to the comment left by “Roanch 21” at “28/09/2015 – 10:24“:

I have completed the survey and posted the following comment ….

“I feel betrayed by the restrictions on finance cost relief for individual landlords as proposed in the budget given it was not in the election manifesto”
.

Completed. I have stated that having been won over by the conservatives pro-business rhetoric, I feel I have been betrayed. I will never vote for you again based on this one policy alone. You have lost the very people you seek to attract – the aspirational.

On another point, do we know the date that the Finance Committee will come to a final decision on clause 24?

I have also completed the form. In fact I think I have done it before…not sure if that means we can all complete it multi times…bombarding them with comments.

Reply to the comment left by “Roanch 21” at “28/09/2015 – 10:24“:

I have done the survey, and in the Other box, put:

In April the PM pledged no rises in income tax and asked us to trust him. In July Osborne increased tax for landlords. If implemented, this will boost UKIP’s vote by hundreds of thousands, put rents up and make housing benefit recipients homeless.

The running yield on rental investments in the UK is relatively low, which is one of
the reasons that repeated government efforts to attract more institutional investment
have failed. Many small investors were attracted to the sector by the promise of capital
gains rather than the desire to run a long-term business. During the boom years some
landlords had negative yields – that is, their mortgage payments were higher than the
rents they received.
According to Investment Property Databank (which compiles information mainly from
those institutions that do invest), income yields in 2010 averaged 2.8 percent and only
those landlords with properties in central London had seen any capital growth in the
preceding three years. However despite the downturn in the housing market, 24 percent
of landlords responding to a recent government survey (and 53 percent of new
landlords) said they sought only capital appreciation, not income (English Landlords
Survey 2010, Annex Table 4.8).

Completed.

I’ve said I feel let down by the Conservatives and will now vote UKIP.

BTW does anyone know what the UKIP position is on the PRS?

Reply to the comment left by “Mark Brown” at “27/09/2015 – 18:59“:

yes it does look like the tories are

Social cleansing but what will they do with them!