Summer Budget 2015 – Landlords Reactions

Here’s another bombshell:

I have speaking to David Price from (Propety118) and couple of others, and it seems that ,the suggestion is that from April 2017, when new taxation comes in, as we are aware that, you will be taxed on Gross Income and then reclaim 20% Tax Credit.

The suggestion is that, you will have to pay full tax i.e 40% and then make a separate claim for Tax Credit for which you could wait up to six months. (It won’t be done simultaneously)

If that happens we are all f*****

Reply to the comment left by “Saeef Khan” at “02/12/2015 – 21:44“:

Seems a bit odd. Why wouldn’t it just all be spelt out on the annual tax return? Don’t the inland revenue have enough to do without more admin.

Reply to the comment left by “KATHY MILLER” at “02/12/2015 – 21:02“:

Yes, Kathy. There was a big headline this week about council tax – that councils would increase the bills by an average of £200 per year, whilst delivering fewer and more inferior services.
Just like us! I’m planning on the rents going up (started that process) and my maintenance bills going down.
When the councils said this, no-one thought it was strange. It was just common sense, and how they would manage, receiving less from central government. Maximise income and minimise outgoings. Simples.

banks and building societies have been ordered to allow elderly borrowers with interest only mortgages to stay in their homes
Big lenders have been told they cant force thee homeowners to pay off their mortgage even if it means the loans they were granted are never repaid
Instead the mortgage debt will be taken from the house sale when the resident dies
Different view from government who want them to down size to free up the larger homes

James Coney in Moneymail
punishing lanldords is bad for the economy yesterday

Reply to the comment left by “KATHY MILLER” at “03/12/2015 – 07:43“:

Thanks for that, Kathy. I hadn’t seen it. We have been trying our best to bring James Coney on board and I think that, together with the latest attack on us, has swung him around. As he is the personal finance editor (not sure if that’s the title), we will hopefully see more articles like that. It would be good if a few landlords here dropped him a line and asked him if the Mail could start an anti-BTL tax grab campaign. I’ve asked various journalists there, but persistence is the key and it would be good if some of our dynamic landlords here could get this message to him, thanking him also for the article.

Yes the Mail has been an occasional landlord supporter in the past too (on the West Brom fight and against Skipton earlier)

What is interesting is the silence of The Times on this – due to hostility against landlords from editor Ian Cowie, I suspect.

You’ll also recall that The Times never really reported on the action Mark Alexander bought against West Brom either on the lifetime trackers.

I have repeatedly asked the journalists I know there why – never had a decent answer but I suspect having a senior editor who is anti landlord Ian Cowie is the reason why.

David Lawrenson
LettingFocus
Consultancy
Only the Telegraph and Richard Dyson has helped us out on any of this. And I think landlords should get on there and support his piece about this being the politics of envy. he has taken a lot of flack from the usual landlord hating trolls, so I think he could do with folks logging in and adding comments in support.

Am I alone in wondering why on Earth there is such a nasty viscious meme developing about landlords? I mean, what is THIS supposed to be? Are these people CHILDREN? I think we shoudl find out who did this and SUE him collectively.

http://i66.tinypic.com/fapjbn.jpg

Yes the Mail has been an occasional landlord supporter in the past too (on the West Brom fight and against Skipton earlier)

What is interesting is the silence of The Times on this – due to hostility against landlords from editor Ian Cowie, I suspect.

You’ll also recall that The Times never really reported on the action Mark Alexander bought against West Brom either on the lifetime trackers.

I have repeatedly asked the journalists I know there why – never had a decent answer but I suspect having a senior editor who is anti-landlord is the reason why.

Only the Telegraph and Richard Dyson has helped us out on any of this. And I think landlords should get on there and support his piece about this being the politics of envy.
He has taken a lot of flack from the usual landlord hating trolls, so I think he could do with folks logging in and adding comments in support.

David Lawrenson
LettingFocus.com

Article in Landlord Today; Mike Coady, who heads deVere Group’s deVere Mortgages, said that George Osborne’s clampdown on buy-to-let investors will be “ineffective for its purported aims.”

https://www.landlordtoday.co.uk/breaking-news/2015/12/btl-tax-clampdown-wont-help-generation-rent