Summer Budget 2015 – Landlords Reactions

Do we have only 18 days left to reach stretch target of £250k? What happens if target is not reached within 18 days?

No. The target of 50k has been reached within the timescale and now we have as long as we need to get to the stretch target.

Hi All

Spoke to RLA campagine manager this morning. Had a long discussion in which I said it seems to me that you are not supporting us, forget about financially but by not even sending email links about fund raising to all members.As lot of members are not even aware/ informed by you. I myself found out about this from another site. (being this site) There were lot of things said which I can not write about here . However it seemed to be positive to me (if it works out) what is happening behind the scene. He did say in May there is a article coming out about the fund raising in the magazine. He did appreciate my point that email with a link is quicker and easier and more people will donate. He cannot authorise the emails going out to all members and can not give me the time scale if and when because of on going discussions. However he is going to put my email for the chairman’s attention.

Hiya, a few weeks back I spoke with Alan Ward, chair of RLA and he said that they investigated fighting the changes through the courts but we’re told by their legal advisors that the chances of winning were so low that he dropped it. He was really helpful to us in getting publicity in the Telegraph but recommended we plan ahead and incorporate before the April deadline which we did. I’m guessing if he still believes that the case is likely to fail he is struggling to get behind the fundraising.

Reply to the comment left by “S H” at “27/04/2016 – 13:45“:

SH…when you incorporated, did you have to pay CGT and Stamp Duty?

Reply to the comment left by “S H” at “27/04/2016 – 13:45“:

Fighting with one arm tied behind your back? Frankly their stance doesn’t convince me, better to have loved and lost etc.

I was / am in the process of incorporation and can confirm it is 1% stamp duty on value. For larger landlords this can be a massive cost plus fees it is an expensive upfront cost I am having second thoughts. I was with a barrister today who reiterated what the above said that the chances of getting this overturned are zero in his eyes not being negative just relaying what I have been told, albeit everyone has opinions and I am fully behind challenge.

The bill for SDLT for us was several 100ks and just unworkable nearly had a heart attack as I thought it was exempt for over 15 properties got that one wrong

Reply to the comment left by “NW Landlord” at “27/04/2016 – 17:16“:

NW Landlord, what about if you transacted with Beneficial Interest Trust recommended by Mark Alexander which is conducted by Mark Smith Barrister?

Are there still issues with Stamp Duty and CGT?

That’s who I used and I got the figures on Monday and nearly collapsed as I thought it was exempt, so I have decided to pull out as I simply haven’t got the figures involved to do it. The more mortgage debt you have the worse it is the government have covered all bases I am going to start selling and diversify as the buy to let game as we know it has gone. Buying in a limited company moving forward maybe be an option but wouldn’t put it past that fool in London putting the breaks on that