Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Ros .” at “02/11/2015 – 15:04“:

Wrong link posted. This is the one:

http://www.thetimes.co.uk/tto/news/politics/article4602194.ece

Reply to the comment left by “Ros .” at “02/11/2015 – 16:41“:

Thanks Ros

If you google “150000-landlords-could-have-to-pay-higher-tax-bills-as-budget-changes-take-effect” you will be able to get to the whole article.

The article states that “The move effectively treats rent as income”. Stephen McPartland, the MP for Stevenage, is quoted as stating this twice.

Rent always has been treated as income. Nobody is saying it shouldn’t be. They should have said interest – a cost – will be treated as income, which is the revolutionary proposal from the left-wing Green Party’s 2015 election Manifesto, via George Osborne.

If the Treasury wanted to see how many basic rate payers will be affected they just need to ask HMRC to add the finance costs to such landlords’ current total income and see if the result exceeds the higher rate threshold. Not beyond the wit of man. In fact, I would be surprised if it has not already been done.

I have been a landlord for 31 years and I have never got so much as “45p back from the taxpayer”. This is an absurd claim by a Treasury spokesman, just one of a series of distortions of the facts that they have been forced to peddle thanks to Osborne’s adoption of a lunatic, hard-left, confiscatory tax.

Reply to the comment left by “Appalled Landlord” at “02/11/2015 – 17:40“:

@AL

“If the Treasury wanted to see how many basic rate payers will be affected they just need to ask HMRC to add the finance costs to such landlords’ current total income and see if the result exceeds the higher rate threshold. Not beyond the wit of man. In fact, I would be surprised if it has not already been done.”

A previous FoI request was fobbed off by HMT. I am awaiting an answer to a FoI request asking precisely asking the above question; sent to HMRC on 11th October; it will be based on figures from the Tax Year 2012/13 (which is the same year as another FoI request that I sent in about a month earlier, so should have comparable results). The answer is due at the end of this week/beginning of next.

According to this report by the Guild of Residential Landlords, it is only those with one property who will be affected by the BTL mortgage ‘clampdown’:

http://www.landlordsguild.com/accidental-landlords-will-face-tougher-buy-to-let-rules/

Reply to the comment left by “Barry Fitzpatrick” at “02/11/2015 – 07:42“:

Well done Barry

I caught the tell end of this on radio today

Dear Kathy

Thank you for your email. Our CEO Richard Lambert is on Jury Service so I thought that I should just confirm that we are indeed very active on Clause 24.

Some of what we are doing has been flagged to members in our Focus Emails and can be found on the Campaign and PR pages of our web site. However much of what we are doing is via direct contacts with the Treasury and we have submitted a detailed costing of the implications of this which was well received for its clear arguments

I have copied Chris Norris in on this email and would ask him to give you a more detailed response in due course. Do bear with him for this as his primary focus at the moment is in lobbying on this and several other proposed legislative changes for landlord

Kind regards

Carolyn

Carolyn Uphill / Chairman
National Landlords Association

Reply to the comment left by “KATHY MILLER” at “02/11/2015 – 19:20“:

Hi Kathy could you provide me with an email address for Caryln from the nla going to email her with my situation

Reply to the comment left by “Maria O’Neill” at “02/11/2015 – 19:58“:

Hi Maria

[email protected] ; [email protected] ; [email protected] ; [email protected]

Morning all
Great to have Mark up at Scottish landlords day
Woke a few landlords up with his speech

Milton Keynes Council have issues with homelessness and are now putting a tender out for dealing with solutions, I do wonder if the local authorities have a clue what is about to hit them.

Creating the Milton Keynes ‘Response to Homelessness’ Strategy, Project Reference: QU0614