Summer Budget 2015 – Landlords Reactions
2:00 PM, 8th July 2015, 11 years ago
9619
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The concern is;
Budget proposals to “restrict finance cost relief to individual landlords”. 
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Budget 2015 Campaign
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Member Since October 2014 - Comments: 274
9:45 AM, 6th November 2015, About 10 years ago
Quote from Hansard by David Gauke from the Third Reading of the Finance bill 2015 on 26-Oct15
“I turn now to the support that the Bill will provide to business. We want to provide certainty to businesses, increase investment and improve our infrastructure, because that will drive growth and job creation in the coming years. First, it is clear that we need a business tax regime that is stable, competitive and fair.” (my emphasis).
Two faced B********RD!!!!
Full transcript: http://www.publications.parliament.uk/pa/cm201516/cmhansrd/cm151026/debtext/151026-0004.htm#15102639001484
Member Since July 2015 - Comments: 154
1:11 PM, 6th November 2015, About 10 years ago
Articles like this where landlords are taking property from FTBs do not help, here I think conditions of the planning permission should include a restriction that the properties can only be sold to owner occupiers.
http://www.dailymail.co.uk/property/article-3303413/First-time-buyers-queue-overnight-buy-Galliard-Homes-flat-Hounslow.html
Also not all believe that landlords will be selling –
http://www.theguardian.com/money/2015/nov/04/buy-to-let-boom-landlords-housing-market-rental-yield
There are probably as many articles being positive about the future of btl as there are mentioning problems due to the tax changes.
Member Since August 2015 - Comments: 335
6:24 PM, 7th November 2015, About 10 years ago
Reply to the comment left by “Barry Fitzpatrick” at “06/11/2015 – 09:45“:
Two faced? He is 2 million faced B*****d!
That sort of cu**s only learn a lesson when they fall flat on their face!
I hope he rots in hell with Osborne.
Member Since October 2014 - Comments: 274
1:03 PM, 8th November 2015, About 10 years ago
I met my local MP last Friday, and got a lot of platitudes but little else
I have written back to him today:
Dear Andrew,
May I thank you for your time last Friday afternoon to discuss the Summer Budget change to the taxation of individual Landlords.
I feel totally betrayed by the Conservative Party who have ditched their own principles on taxation, time honoured business taxation principles, with an ineffective measure to garner a little popular support for First Time Buyer’s on the back of populist anti-Landlord sentiment.
The Chancellor has misled both Parliament and the British people in saying it is taxing the wealthiest Landlords, whereas it will hit only middle class Landlord’s, and hit them with crippling rates of tax.
I am also disgusted with the proceedings of the Public Bill Committee who spent about 10 minutes in committee on this clause mostly listening to David Gauke repeating several times over the same unsubstantiated misinformation that has been tripping since the Chancellor announced this measure in the summer. This despite the overwhelming number of submissions to the committee where about Clause 24, many respected independents (e.g. the Chartered Institute of Taxation, Association of Taxation Technicians, The Institute for Fiscal Studies (IFS), Capital Economics, Institute of Chartered Accountants, ICAEW).
Clause 24 is ill thought through and will hit many more Landlord’s than stated, and impact a few million tenants. Hardest hit will be those Tenants that are most vulnerable, the low paid & those on Housing Benefit, who will be evicted, and have to fall-back on local councils to house them in B&B’s. This makes me feel ashamed that I voted Tory at the last election. This not a tax on Landlord’s but a stealth tax on Tenants.
I am disappointed that you have not pressed the Treasury for more pertinent answers to the questions that I posed (rather than the “stock” responses), you said that the Government is pushing this measure through but I do not have to remind you that without your vote and that of your colleagues this measure would not go through Parliament. I note that you have voted also for this Bill. This measure was not part of the Conservative Party manifesto for the last General Election and therefore the Government has no mandate to push this measure through.
Is this the way the Conservatives rewards people trying to reduce their dependency upon the State in retirement? I didn’t put £200k into a pension so saving the Government £50k in pension tax relief. Instead I put this money into property happy in the certain knowledge that I would only be taxed on my profits, and that this would provide an income during my retirement. If I’d have known this was going to happen I would not have invested in property nor voted for the Conservative Party at the last election.
Regards
Member Since July 2013 - Comments: 357
1:18 PM, 8th November 2015, About 10 years ago
Hi Andrew
I think your letter is brilliant and very clear to your thoughts and other landlords.
Member Since November 2015 - Comments: 73 - Articles: 5
1:19 PM, 8th November 2015, About 10 years ago
Apologies if this has already been posted. It is a recently published report entitled: “Building the new private rented sector: issues and prospects (England)”. The report can be downloaded using this link:
http://researchbriefings.files.parliament.uk/documents/SN07094/SN07094.pdf
Or if that does not work, use this link to the relevant download page:
http://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN07094
Member Since May 2014 - Comments: 145
1:32 PM, 8th November 2015, About 10 years ago
Reply to the comment left by “Barry Fitzpatrick” at “08/11/2015 – 13:03“:
This is the best riposte I have read in a long time!
Member Since September 2016 - Comments: 2533 - Articles: 73
1:37 PM, 8th November 2015, About 10 years ago
Reply to the comment left by “Barry Fitzpatrick” at “08/11/2015 – 13:03“:
Brilliant letter Barry. Any decent person would be ashamed to receive that letter, but I suspect your MP will have a very thick skin. All the same, the more strongly-worded letters MPs receive, the better. I think these do have an impact in the long run and make them less likely at least to stand up and spout anti-landlord crap. That’s what I hope will happen with Siobhain McDonagh if enough people write to her. We have to turn the tide.
I was talking to a friend about it today – I said: ‘So how do they make out that by owning a house, rented to 4 students, in a town where there is a shortage of student accommodation, that this is a bad thing? Do they imagine that when a student turns up at University they want to club together with 3 strangers and buy a house together in a town where they will probably not want to live in 3 years down the line? And if not and if there is nothing wrong with providing student accommodation, how can they use the ‘level the playing field with owner-occupiers argument (so that owner-occupiers can buy these houses, even if there is no market for that)?’
Member Since September 2016 - Comments: 2533 - Articles: 73
1:39 PM, 8th November 2015, About 10 years ago
Reply to the comment left by “Jim S” at “08/11/2015 – 13:32“:
Yes, it is and I think it is especially powerful when this is written to one’s own MP, whom one has seen. These people have to be exposed for what they are complicit in.
Member Since September 2016 - Comments: 2533 - Articles: 73
2:47 PM, 8th November 2015, About 10 years ago
Okay everyone. Here we go again. We are now invited to write submissions for the Lords with regards to the Committee on the Economics of the Housing Review. It includes questions on what effect C24 will have on rents and also on the issue of rent caps. This is an opportunity to have our voice heard – as I have a feeling that the Lords will take more seriously the fact that when submissions are made they should be read. Here is the link:
http://www.parliament.uk/documents/lords-committees/economic-affairs/Economics-of-the-UK-Housing-Market/Housing-Call-for-evidence-FINAL.pdf
And this is what it says regarding c24:
‘Will the reduction of tax relief available to private landlords announced by the
Chancellor of the Exchequer in the 2015 Budget increase the cost of
privately
rented
accommodation?
b.
Will the current trend of a decline in home ownership and an increase in private
renting continue? How can the Government encourage a stable long term rental
culture?
c.
What are the advantages and disadvantages of restricting rent increases
in the
private sector?’