Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “NW Landlord” at “26/11/2015 – 14:46“:

I was going to say that from your comments, your position is one that they’ll definitely want to know about NW Landlord, but you’re already on this!

Even if further contributions are late for the write-up of this particular article and people are just finding out about this now, I believe that they should still be sent to the DM anyway.

Someone will almost certainly raise a point not covered so far today, and these further e-mails could inspire follow-up articles on the subject.

Reply to the comment left by “Manchester Landlord” at “26/11/2015 – 12:11“:

Hi Manchester Landlord,

Your MP may have tried to fob you off but this person would like to hear what you’ve got to say I’m sure: [email protected]

Reply to the comment left by “Barry Fitzpatrick” at “26/11/2015 – 18:22“:

Or a proper Tory repeatedly swipe him with her handbag until he gives up on this stupid idea.

One of my business partners has there own manager within the council personally handling all of the claims and issues with payments because they are that worried that if he decides not to benefits they will have literally hundreds of families looking to be housed and with this universal credit it’s going that way let alone clause 21. where are all these families going to live if we can’t meet our tax bills and government pulls the plug ? The areas we are dealing with are all either council or landlords there quite simply isn’t a first time buyer market that’s why we are in the area low priced housing with good Yield up untill July ?

Reply to the comment left by “NW Landlord” at “26/11/2015 – 18:37“:

Perhaps your friend or even his manager could be convinced to write to the Mail as well or any number of the other members of public office we have been trying to awaken.

Should our arguments be voiced by an individual within a council, they could carry more weight

Reply to the comment left by “NW Landlord” at “26/11/2015 – 13:56“:

NW Landlord, you say ‘stamp duty is insignificant compared to clause 24’.

Completely agree.

At least the SDLT hike is not being proposed to be applied retrospectively, unlike C24 effectively is. So whether the ‘BTLER’ (to use the term used by the LL haters) is incorporated or not, encumbered or not.. if these new SDLT rules are ratified and become law, then at least everyone would know the score *IN ADVANCE*.

Assuming GO and HMT actually believe their OWN rhetoric that they used in the Summer Budget about ‘levelling the playing field’, then surely they should allow an amnesty period (CGT/SDLT) for incorporation purposes, for those businesses who wish to?

If they do not agree to offer that, then would there not be a stronger case for a legal challenge?

@ Mark A: I wonder if your barrister friends have any views on this point?

Reply to the comment left by “Barry Fitzpatrick” at “26/11/2015 – 18:22“:

Far too quick, §hold be done gradually between now and 2020!

Reply to the comment left by “NW Landlord” at “26/11/2015 – 13:56“:

Maybe insignificant to you but not so to people looking to get into buy to let. Particularly down south…..on a property worth around 40k that’s almost doubled stamp duty to circa 36000. Existing landlords with with existing portfolios now have a definite advantage.

Did any of you read or hear about the judicial review of discrimination vis-a-vis carers to disabled people? I am sure that there is adverse discrimination against the individual and for the corporate landlord in the new secondary property legislation. And 2nd homes for personal use are an entirely different thing to buying a wreck to bring it back as a desirable let. It seems to me that it is immaterial whether it is an individual or a corporation [and aren’t they , too, ‘legal individuals’] that owns the 15 properties. It is the scale of ownership that the chancellor has set as the criterion of professional status. Has anyone discussed this with a competent QC yet?

Can we have a census of the number of properties renovated & brought back to life by BTLers in the last 5 or 10 years, please?

And what is a property? I happen to own whole blocks of self-contained flats under common title. Does that mean 14 flats of 4 buildings? Happy to buy another flat y April, but not another 11 buildings.

Reply to the comment left by “Laura Delow” at “26/11/2015 – 17:02“:

But why not from the corporates, too? They’re much more skillful than the average LL minimising taxable income.