Summer Budget 2015 – Landlords Reactions

A number of new submissions have been uploaded to the Parliament website. Here is the link –

http://services.parliament.uk/bills/2015-16/finance.html

Reply to the comment left by “Saeef Khan” at “14/10/2015 – 19:57“:

Saeef should Megan Shaws statement not have been “Landlords with 4-6 MORTGAGED properties will pay no further tax.If so it fits nicely for me as i have 4 mortgage properties with total borrowings of £1.1 millon.The rest of my fairly substantial portfolio being unencumbered

Reply to the comment left by “ray selley” at “14/10/2015 – 20:48“:

Ray, in this case, you should be laughing all the way to the bank.

Reply to the comment left by “Saeef Khan” at “14/10/2015 – 21:02“:

I wasn’t laughing in 2008 when i thought i had lost all my deposits with the icelandic banks that went under.That,s when i decided to buy property as at least i stood some chance of not loosing the lot !

Reply to the comment left by “Darlington Landlord” at “14/10/2015 – 18:05“:

@DL

I recall you receiving that response it was 1 of 4 questions I formulated at the beginning of September.

My latest question is worded differently :

Further to the answers given in FoI ref 2611/15 how many of the Landlords who declared and income from property in the tax year 2012-13 where Higher Rate taxpayers or above in that year (using that tax years tax thresholds)? And how many properties do they own?

If the for the above, how many Landlords who where only Basic Rate taxpayers (using that tax years thresholds), who if their declared finance costs were added to their declared income would result in them becoming Higher Rate or Additional Rate taxpayers? And how many properties do they own?

Reply to the comment left by “ray selley” at “14/10/2015 – 21:11“:

Yes, Ray, and we had to really keep our nerve when interest rates were going really high around 2007, I think. I was making plans then re. how to prepare for bankruptcy. It felt very different though – as we were just facing the same economic forces as everyone else; not being picked on and attacked in a single-minded, discriminatory way by the Government.

Reply to the comment left by “Ros .” at “14/10/2015 – 21:25“:

Ros i went to bed one night in 2008 resigned to the fact i had lost all my savings.I awoke the next morning tuned into Sky news and there was Alistair Darling the Labour chancellor announcing that all deposits no matter what the amount would be covered by the treasury.Bl—y good job GO wasn’t the chancellor at the time .He would probably taxed me on the interest i didn’t receive !

In relation to Megan shaw comment ie landlords with 4-6 properties will not be effected or as in seef comments £50,000 will be deductible as finance costs. i have not read anything on the bill commitee of any submissions of this sought. can anyone clarify on this?

Reply to the comment left by “ray selley” at “14/10/2015 – 21:49“:

Well, exactly – just like he now wants to tax us on profit not made. It’s one of those things that is so outrageous that the shock of its announcement will never abate.

@ Jon Pipllman: I see one of the more vocal & manipulative members of the other forum that you follow is tonight saying of me: ‘…who is of the opinion that this tax change will cause part of the existing housing stock to up and disappear is engaging in magical thinking, for instance, and should not be taken seriously.’

^Pure lies, I never suggested anything of the sort. Please feel free correct that fella.

On the basis that members of your other forum don’t just lap up whatever the political elite ‘say’ (?), please encourage members of that forum to also consider all views under the subtitle ‘written evidence’ @ http://services.parliament.uk/bills/2015-16/finance/documents.html