Summer Budget 2015 – Landlords Reactions

The only other parliamentary committee that I took any interest in acted in exactly the same way: showed no sign of even considering the evidence supplied, let alone understanding it, or debating the matters it brought up

I don’t, therefore, think this committee stage was any different from any other. Doesn’t make it right of course, but it seems typical of this system we call democracy

Reply to the comment left by “David Price” at “17/10/2015 – 09:58“:

@David

They may run out of ideas but their stupidity is limitless.

>Barry

yes, even in my wackiest dreams I couldn’t come up with this lot – schemes recently thrown at ‘home owning’

https://www.ownyourhome.gov.uk/schemes-all/

government’s primary purpose seems to be to make as complex a tangle of mechanisms for spending more taxpayers money on more things than before

it is not a nice direction of travel

You definitely do get the feeling they made a decision that someone thought was a bright idea and are going to run with it no matter what.

Reply to the comment left by “steve p” at “17/10/2015 – 19:35“:

…….. or would lose too much face by admitting they’d got it badly wrong.

Govt should leave the house market alone ive lost count of the number of times they’ve altered the sdlt rate. The silly rtb policy which was not reversed by labour was the start of the problem plus uncontrolled migration now due to failed policies govt has hung out to dry landlords (some) id imagine a large part of their portfolio includes the properties which should never have been sold off. Its a shambles an affront to a free market economy. Govt (councils) have completely failed in every way by not accepting their duty to provide social housing to those in need.
Landlords who think they can charge more rent to offset the anticipated reduced profits from the budget changes, outwith London i cant see this working in times of austerity with lower wages/tax credit reductions and less disposable income. Seems to me like the UK is becoming a socialist state when it purports to be a free market how strange. Last point id image subscribers here are involved in property for the long term immovable fixed assets etc but it seems you need to think short term (as does the Govt) and out of the box, this does not fit with a property investment does it ? Any ideas on the above would be welcome.

Reply to the comment left by “Simon ” at “18/10/2015 – 08:43“:

Hi Simon.
The Institute for Fiscal Studies said something similar in their report after the Summer Budget – how business needs certainty and how these kinds of changes are very damaging for confidence in the economy.

Lack of certainty stifles any long term planning for any business.

Are LLs going convert to Ltd co’s? Only for GO to level the playing field between private LLs and incorporated LLs?.

Is GO going remove the allowance on interest altogether?

I’d GO going disallow insurance, repairs, etc as to “level the playing field” with OOs who do not get tax relief on these items?

It’s about time Government realised this.

Reply to the comment left by “Barry Fitzpatrick” at “18/10/2015 – 11:34“:

Very true Barry. Whilst government policy towards housing in general and landlords in particular seems whimsical and directionless, we are all left guessing about the most sensible way forward, . That’s no way to plan a business.

Reply to the comment left by “Alison King” at “18/10/2015 – 18:56“:

“That’s no way to plan a business”

That’s alright Alison because it’s not a business, merely collecting investment income! Perhaps the government expect us to plan our activities in the same chaotic manner in which they appear to run the economy.