Summer Budget 2015 – Landlords Reactions

It is regretful that Judge failed to see Landlords point of view and he declined the permission for Judicial Review.

Nonetheless, I am fairly confident that changes will not be retrospective and it will apply to purchases post April 2017.

If you look at new Prudential Regulation Authority (PRA) stress testing does not apply to existing mortgages but to new purchases. Applying the similar analogy would conclude that, changes will not be retrospective.

In an ideal world that would be great and the problem goes away but I’m not holding my breath with this government they have that 1bilion that think they are going to make banked and won’t want to give it up

Reply to the comment left by “NW Landlord” at “06/10/2016 – 16:06“:

Exactly my point of view. Government will prepare a new letter which will be sent via MPs to those who communicate with them on that subject. Obviously with the JR disallowed the Government won, so they will not waste a minute to advertise about it. I worry it will turn even more against LLs.
I tend to agree with someone earlier that a big advertising campaign in national press and FB can – perhaps – help. The government is against us and even more so after T May speech. Today NLA is warning that it was very much against PRS. Another nail to the coffin.
On the other matter – We just do not have that amount of money we would need to spend for restructuring, with properties in SE the stamp duty will be enormous for a start.

Don’t forget this is to raise tax and applying it to new purchases will raise nothing as only a fool would buy a house in there own name I really hope u are right

There is going to be a lot of decent hard working business people going to the wall because of this and the sad thing is no body gives a sxxt

If you are in partnership no SDLT if you arnt I suggest you set one up luckily I have since day one saved me tbh

Reply to the comment left by “NW Landlord” at “06/10/2016 – 16:22“:

That’s quite true & I agree with-you – After having been homeless twice in my life – I have spent the last 20 years working full time and running & building my property business. This has been achieved after taking huge risks & effort.This is an Asset & Tax grab & is so inherently un-fair that I have decided that if this goes ahead I shall not be paying this Tax – if calculated on my 2015 tax accounts – I have estimated that my essential tax rate was in the region of 135% – that means after giving the Government ALL of my earnings (from property & other outside income) I would have still owed the TAX office a sum £514.00. So it looks like I will be going to Prison for non payment of Tax as I can’t / won’t pay something that I don’t have.

How about we all with-hold paying this Tax – & if they want to send us to Prison than so be it.

Hi sunita

Ultimately that will happen to a lot of people as people simply won’t have it you can’t give what you haven’t got this grab beggars believe I hate George osbourne for this and hate is a strong word discussing unfair and it will ge stopped when it unravels but unfortunately there will be casualties

Wow, I am in shock – I had at least expected Cherie Blair’s firm with all the resources thrown at it by Steve Cooper and the crowd justice funding, would have managed to at least get permission for the Clause 24 JUDICIAL REVIEW. … What now? Do we just give up on this..? Surely the opinion of one judge cant stop the obvious and gross unfairness which has been written into the statute books…? Or can it..? Quite shocked actually.

Raise rents sell some incorporate are the three options I’m doing all three unfortunately it’s poor families that will suffer on all levels it really is a cruel tenant tax. Professional landlords developers like myself and many others will ride this out and come out the other end just where all these evicted families will go is going to be local councils problem created by central government you couldn’t make it up a ridiculous tax that won’t do what it is suppposed to do and actually make the crisis 100 times worse