Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Markb ” at “16/02/2016 – 18:05“:

Am not sure if ‘tenant tax’ is an accurate all-encompassing description as theoretically the tax would only directly target tenants whose LLs are not incorporated and the property in question is encumbered.

Then again I don’t have a better suggestion for a catchy name right now, so need to have a think about it..

Reply to the comment left by “Markb ” at “16/02/2016 – 18:05“:

Mark *I* do use “Tenant Tax”, however when I was saying “the tenant pays SDLT and c24” (ultimately), it would have made (more) nonsense than usual to use tenant tax.

It is not the number of times it is used, but the number of times it is searched and tagged.

All past article subject lines could beneficially be edited as C24/Tenant Tax instead of just c24 a meaningless term, I agree.

Reply to the comment left by “Gareth Wilson” at “16/02/2016 – 18:49“:

The hipocrasy continues. Go/HMRC say it’s OK for a company to moves its profits to an offshore company (which pays no corporation tax in the UK) especially if your name is Google, Amazon or Starbucks. But if I as a private LL setup a UK limited company to manage my properties and realise my profits through it (and pays UK corporation tax); GO/HMRC say this is not allowed.

Reply to the comment left by “Mark Shine” at “16/02/2016 – 19:27“:

Bedroom tax didn’t affect ALL bedrooms. Only those occupied, by tenants, that had ‘more than needed’.

“George Osborne’s National Living Wage is a tax on employers hiring low skilled workers”

“A tip for the chancellor: if you want to save some easy money, slash your own propaganda budget. In London, we seem to be inundated with bus station ads championing what many consider to be misguided housing policies and by others highlighting the introduction of the new “National Living Wage” of £7.20 from April.”

http://www.cityam.com/234647/george-osbornes-national-living-wage-is-a-tax-on-employers-hiring-low-skilled-workers

Reply to the comment left by “Chris Byways” at “16/02/2016 – 14:48“:

Correct me if I am wrong…..but do the large institutions not pay any of theses taxes because of exemption from sdt and incorporated c24 status?

Reply to the comment left by “Jim Taliadoros” at “17/02/2016 – 09:12“:

No need to correct you, Jim, as you are right – strange but true. Welcome to the twilight zone.

Reply to the comment left by “Ros .” at “17/02/2016 – 09:37“:

I agree they don’t pay, that is why this “level playing field” is built on a rocky cliff face. Shows how twisted his “vote-buying of young renters” logic is. Coupled with his fear of market instability.

If Local Authorities can’t or won’t refurbish large blocks of run down flats to safe, desirable affordable apartments, then encourage the private sector to do so. Not try to run them out of the Country. (Ask Mark about that……!)

We have shown how a mid terrace 2 bed damp dump in Wolverhampton for £40k can be turned into a decent home, where in London you would be hard pressed to find that for £400k.

What worries me is that the new sdlt is going to act as a deterrent to the small guy doing lower margin buy….refurb ….and sale. Who is going to cater to this lower end of the market. The big house builders will not touch this sector of the market.

Reply to the comment left by “Jim Taliadoros” at “17/02/2016 – 12:17“:

The answer is no one. We bought an ex LHA property from the right-to-buy’er who had lived there as both a son then tenant in his own right; it still had a lovely orange bathroom suite, no central heating and just two gas fires in the whole house. After a thoroufh re-furb a typicall income strong/capital light young couple and baby bought it. Due to some unforseen costs the project only washed it’s face but another £5.5k SDLT would have killed the viability stone dead, well done “Osbourne & (bear of) little brain”.