Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Jerry Jones” at “01/10/2015 – 19:21“:

LOL Jerry. As long as they are not affected they could not give too hoots.

I would like to see Ice coming off their faces once they get glutinoued.

Some people look at you as if they think Tax does not even exist these are very same people who do not even declare taxes.

I went to see my accountant yesterday and went through how it would affect me and on my last return my tax bill will go up 3666% and I was a basic rate tax payer. This tax is sabotage of the highest scale and is going to affect most landlords end of story it is eyewatering and beyond unfair you are going to pay more in tax than you make in profit.The only reason for it is to rid the country of the portfolio landlord and the general public will have no sympathy due to the bad press landlords get. It’s is going to push up rents and flood the market with properties

Reply to the comment left by “Jerry Jones” at “01/10/2015 – 19:21“:

First they came for the property soletrader
and I did not speak out
Because I would not be affected
Then they came after all sole traders
and I did not speak out
Because I was not a soletrader
Then they came for the property ltd companies
and I did not speak out
Because I was not a company
Then they came for me
and there was no one left to speak for me

Reply to the comment left by “KATHY MILLER” at “01/10/2015 – 19:46“:

Joint Venture? I do not think he was just selfish he was selfish as well as stupid.

Reply to the comment left by “Saeef Khan” at “01/10/2015 – 19:54“:

Yes agree, but some people just dont get it, but selfish because he only thought of himself

Reply to the comment left by “Steven O’Neill” at “01/10/2015 – 19:50“:

Hi Steven, how such a huge increase of 3666%?. My bill will go up massively, but nowhere near that amount.

Reply to the comment left by “Steven O’Neill” at “01/10/2015 – 19:50“:

Hi Steven.
With no change to my portfolio !and a 3.3% increase in interest rates, I could get a tax rate of a million percent! After that it just becomes infinite, as it is a loss once actual income goes under zero. I find the best way to deal with this is by campaigning against it. At least then I don’t feel like a victim; I feel like a fighter. In some ways I even enjoy it! Sounds a bit strange, but that’s how it feels. I know I am doing some good and doing my best – for me and my kids and also for others in the same boat. One of the most useful things I think is to go and see your MP and show them what this will mean for you – take a copy of the calculation and put it right under their nose so they can’t escape it and then ask how are they going to help you? i.e. how are they going to speak up for you in Parliament and stop this travesty of justice from happening? If you need any help with preparing how to approach your MP, let me know. It won’t take me two ticks as I gave some advice on this just today and have an email I can forward to you.
Don’t get mad; get even!

Hi Manchester Landlord: just saw your post. Mine would become a million percent at the point when my actual income hit £1 (just before it went down into the nether regions) – and my tax bill would be approx. £10,000.

Reply to the comment left by “David Price” at “01/10/2015 – 19:20“:

Hi David

I agree it is not a new tax, but Cameron pledged that for 5 years there would be no increase in income tax, full stop: http://home.bt.com/news/general-election-david-cameron-pledges-law-to-lock-tax-rises-91363978405034# javscript:void(0)

That implies not just that the rates of tax would not be changed, but also that the basis of the calculation would not be changed. A few weeks later Osborne announced plans to change the basis. In so doing, he has made a liar out of his boss.

Hi ros funny you should say that I am about to send a letter to my mp pick ur brains maybe easier over the phone ?

Ros, I’ve spoken with my MP’s secretary sometime ago and still waitibg to get an appointment to see him. Hoping that my appointment will be sooner rather than later, I was wondering if you could advise me by email so that I can print off, how I can structure my meeting with him and how I can best get our arguement accross. I just don’t want to mess up and walk away thinking I missed my opportunity. Any advice would be appreciated. I have read every post on this site and sometimes get confused by all the different points of view.