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 August 2015 - Comments: 287
7:27 PM, 4th November 2016, About 9 years ago
Student accommodation here in York on campus can be £150 a week for an en suite premium room
https://www.york.ac.uk/study/accommodation/rooms-prices/
Is that a typical going rate these days ?
Member Since November 2016 - Comments: 335
7:43 AM, 5th November 2016, About 9 years ago
http://www.huffingtonpost.co.uk/entry/jeremy-corbyn-win-next-general-election-housing-crisis-alex-morton_uk_581c79a2e4b0c2e24aaf56aa?icid=maing-grid7%7Cmain5%7Cdl1%7Csec1_lnk2%26pLid%3D1280215461_uk
Corbyn to win next election David Cameron’s inner circle admits” It is further stated in article that if Corbyn won the election Labour will bring Rent Controls and Secure Tenancies”.
“We will end insecurity for private renters by introducing rent controls, secure tenancies and a charter of private tenants’ rights, and increase access to affordable home ownership”
Time to sell up I think whilst sun is shining.
Member Since October 2013 - Comments: 804
8:55 AM, 5th November 2016, About 9 years ago
He won’t get elected not a chance in hell
Member Since November 2016 - Comments: 335
10:25 AM, 5th November 2016, About 9 years ago
There only issue is, if government were to have snap elections due to Brexit then he is likely to be in as early as next year!
Member Since July 2015 - Comments: 344
10:41 AM, 5th November 2016, About 9 years ago
Reply to the comment left by “NW Landlord” at “05/11/2016 – 08:55“:
I agree but if did I think we would also see the full removal of interest tax relief. He is that insane.
Member Since October 2013 - Comments: 804
10:47 AM, 5th November 2016, About 9 years ago
He wants right to buy for private tenants if he got in it would be the end of the PRS It would be confiscated by the state
Member Since August 2015 - Comments: 17
11:42 AM, 5th November 2016, About 9 years ago
https://www.lovemoney.com/news/55402/uk-autumn-statement-2016-date-predictions-rumours
It’s also likely that Hammond may reconsider the upcoming changes to landlord tax. From April 2017 landlord tax relief for fianance costs will be phased out and replaced with a 20% reduction in certain circumstances. However, a similar tax policy has just been scrapped in Ireland, which could give the Chancellor room to reverse the restrictions before they come into force in Britain.
Member Since October 2013 - Comments: 804
12:07 PM, 5th November 2016, About 9 years ago
I hope so then this all goes away with one fell swoop ?
Member Since June 2016 - Comments: 135
8:38 PM, 5th November 2016, About 9 years ago
My question is as follows if I have a 3 month void period and collect NO RENT, but still pay the interest only mortgage of £500 PCM which is £1500 over 3 months, is this classed as income and therefore will I have to pay income tax on my mortgage payments less the 20% tax credit in 2020/2021 At my marginal rate? Even though I have not collected a penny in rent… Bizarre…
Member Since November 2016 - Comments: 335
9:01 PM, 5th November 2016, About 9 years ago
Reply to the comment left by “Paul Green” at “05/11/2016 – 20:38“:
Paul, If you have No rental Income, you have No Tax to pay. This is Tax on Rental Income not on interest. This is common misconception that you pay Tax on Interest.
Say for argument sake…you have one property which generates £10k a year and you pay £5000 Interest but this property was not let out for the whole of Tax year 2015/2016 therefore you do not have any income Tax instead you can carry forward 20% of £5000 for following Tax year as a loss and you can then offset this against your profits.
All you have to remember that you can not deduct Mortgage Interest from your profits but you are Credited with 20% of your total Mortgage Interest payment instead so in other words it will be equivalent of as if you are able to deduct half of your mortgage Interest from 2020/2021.