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 May 2015 - Comments: 2188 - Articles: 2
12:29 AM, 9th February 2016, About 10 years ago
Reply to the comment left by “Worried by Budget ” at “08/02/2016 – 19:04“:
“Don’t forget he’ll need a job when he ‘retires’ from politics.”
Let us hope that he needs a job sooner rather than later for I fear, not just for landlords and tenants, but for the whole economy should GO remain much longer.
Member Since August 2015 - Comments: 13
6:53 AM, 9th February 2016, About 10 years ago
Big thanks to Mark, for making the programm available here; i had been wondering how to get to watch this, ipayer is not accessible everywhere in the workd when you are on the move!
All hard work but well done to this stage, can we have more media coverage please…
Member Since November 2015 - Comments: 374 - Articles: 8
7:59 AM, 9th February 2016, About 10 years ago
The deadline for the Government to respond is tomorrow:
https://www.lettingagenttoday.co.uk/breaking-news/2016/2/heres-the-letter-outlining-legal-challenge-to-osbornes-buy-to-let-tax-change
Member Since August 2015 - Comments: 13
8:31 AM, 9th February 2016, About 10 years ago
Reply to the comment left by “Worried by Budget ” at “08/02/2016 – 20:08“:
No wonder the country is in pretty mess…lol
Member Since August 2015 - Comments: 287
9:26 AM, 9th February 2016, About 10 years ago
I read the Omnia ‘Proposed Claim for Judicial Review’ letter linked to above by NW Landlord.
I don’t know enough (anything in fact) about the ECHR and only a little about ‘State Aid’ but, with the commentary in the letter, I can sort of see how Omnia makes the case.
As an unqualified observer, I think the case is made as well as it could be. I expect that HMRC can bat off some of the points made in the Omnia letter as not relevant as points of law (5.19 for instance can be said to be pure conjecture). But there are some substantive issues that HMRC needs to address in order to cause Omnia to be put off from trying to take this further (even if it fails later, Omnia can bill a fair few bob on a project like this I expect).
I am quite certain that the letter itself will not see C24 repealed.
That said, I think it is a audacious move by Mr Bolton and Mr Cooper and I think it will cause HMRC considerable effort to properly respond to and, in doing so, interesting and potentially useful information could be given up.
I watch with interest.
Member Since October 2013 - Comments: 804
9:38 AM, 9th February 2016, About 10 years ago
I am interested as to how they are going to provide evidence of where they arrived at their claims in parliament all of which agree are plucked from the sky’s.
They are also quoting real European law which I know frightens the life out of many as it in many cases overrides our own hence why we have a referendum on EU Membership
My strategy is to explore incorporation but before spending the money doing it wait and see as this is tricky for the government and I bet they didn’t expect this, what they didn’t realise is the calibre of the industry and people they are dealing with I my humble opinion
Member Since August 2015 - Comments: 287
10:14 AM, 9th February 2016, About 10 years ago
Reply to the comment left by “NW Landlord” at “09/02/2016 – 09:38“:
I am not sure they actually have to provide everything that has been asked for (at this stage)
Member Since September 2015 - Comments: 239 - Articles: 1
3:19 PM, 9th February 2016, About 10 years ago
Re the Omnia letter; what does this mean in this context: “Any loss incurred can only be carried forward” (5.16). How can losses incurred as a result of C24 be carried forward if interest charges do not exist as a cost in the accounts?
Also how could it cause loss of personal allowance? (5.17)
Member Since August 2015 - Comments: 287
3:41 PM, 9th February 2016, About 10 years ago
For every £2 of income that exceeds £100k, the personal allowance will be reduced by £1, therefore the allowance is zero if your income is £121,200 or above
https://www.gov.uk/income-tax-rates/income-over-100000
A loss before interest costs is what (I think) 5.16 refers to. Even then, because gross rent is counted as income and interest only attracts a credit, tax can be payable
correct me if I am wrong…
Comments: 14 - Articles: 1
3:51 PM, 9th February 2016, About 10 years ago
Reply to the comment left by “John Blackwood” at “08/07/2015 – 14:12“:
Is there an update on progress with discussions with the Scottish Government?