Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “money manager” at “16/12/2015 – 00:19“:

Is the TIN published and online? Or available under Freedom of Information?

Reply to the comment left by “Jonathan Clarke” at “16/12/2015 – 08:51“:

I have been a landlord for 30 years and financially stress test my business against all foreseeable possibilities including a base rate rise to 10%. Nobody could have foreseen a tax on turnover from a conservative government and it is this that is going to lead, in extremis, to bankruptcy.

I like your idea of looking to history.

Reply to the comment left by “Costas Tzanos” at “16/12/2015 – 09:15“:

Costas, what part of London you from?

Reply to the comment left by “Costas Tzanos” at “16/12/2015 – 09:15“:

Not mortgage free but all my mortgages are in a corporate structure, more by good fortune than design. I am not directly affected by clause 24 but nevertheless am fighting it because it is fundamentally wrong.

Martin Lewis is hiring lawyers to fight the Government’s retrospective move on student loans. I thought there were some interesting comparisons with our situation:

http://blog.moneysavingexpert.com/2015/12/14/ive-hired-lawyers-to-investigate-judicial-reviewing-govts-retrospective-student-loan-hike/?utm_source=MSE_Newsletter&utm_medium=email&utm_term=15-Dec-15-v2&utm_campaign=nt-oneliners-one&utm_content=12

Reply to the comment left by “David Price” at “16/12/2015 – 09:29“:

I agree. This was out of the blue and outside any normal parameters for contingency funding Some of my contingency funds earmarked for interest rate rises will have to be diverted to this tax in due course over the next 5 years.

We need in my view a full time politically astute campaign director with a track record for reversing policy. I know nothing about this field and whilst there are 101 excellent trains of thoughts on this thread we are with respect amateurs in this and we need professional help.

Just £100 from the 40,000 or so online petitioners voting for the Parliament debate would give us a £4 million pound fighting fund. That buys in expert barristers, press gurus who are experts at getting in air time and 10000 placards for a march on Downing street. .

But without public support from the losers in this similar to us in the form of tenants, local council and organisations like Shelter and Crisis it will be an uphill struggle and i fear we will be on a losing wicket.

Yesterday a tenant begged me to evict her so she could get a council house. She was a victim of the benefit cap and rent rises. She used to work as a carer doing an excellent vocational job looking after the vulnerable elderly. She wants to work but will be £100 + worse off if she does. Has to run a car to get around the various homes in the community. Its a no win situation for her. She would support the cause. There are, I`m convinced ,many others like her but they have very little platform for a voice. If we struggle to get our voice heard then its 100 fold harder for them . £4,000,000 would help .

Just my thoughts

Reply to the comment left by “Jonathan Clarke” at “16/12/2015 – 10:36“:

I have just spent an hour on a conference call with a leading UK law firm. The call was positive, and I will receive some information that I will be able to post here in the next few days…

Chris do they think we have a case ? I would be more than willing to contribute as will my business partners to fight the government on this

I would be more than happy to contribute to any fighting fund if we had positive legal advice. I sent a thousand or so to the West Bromwich fund. Mind you, I never thought that the Tories would pull a tax stunt like this. I cannot tell you how depressed the whole thing has made me as I look forward to nothing but years of declining income.
I’m up in Newcastle. If there are any other Landlords up here who would like to get together to discuss the situation I would love the company.

Just received a further letter from my local MP. – what a waste of space!!!

He forwarded a copy of a letter he’d received from the parrot, David Gauke, who just repeated exactly what he said in his previous two letters almost verbatim.

I’m going to email my MP and demand specific answers to the questions that I posed.