Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Dr Rosalind Beck” at “23/11/2016 – 09:04“:

Good idea, Dr Ros, let’s move over there – This is what Mark A posted this morning.
This thread is already approaching 1000 pages:
https://www.property118.com/letting-agents-will-no-longer-be-able-to-charge-fees-to-tenants/92497/

I think “Ban” of tenants letting fees will be good for Landlords as we will be able to charge higher rents and this will assist us to meet Lenders new income multiples such as 1.45 X Mortgage payments. Ultimately it is tenant who will be paying for it…in my opinion Chancellor is attempting to appease rather clueless.

This measure could also be an indictor that Chancellor may reverse Osborne’s policies and the reason for bringing such measure is to distract Anti-Landlords such as shelter to subdued their moaning and groaning whilst he is undoing Osborne’s policies. It is just a thought as I am a conspiracy theorist.

What a Load of Bollocks by Mr Hammond- Boring and Dull Statement.

The only one thing he said positive is that government will look to support individuals to incorporate particularly those who are running same businesses as Corporations and he went to say…we will consult upon these measures.

Some of you may have missed that, as he said it in very casual and quiet manner.

Reply to the comment left by “Simon Hall” at “23/11/2016 – 13:35“:

No, I heard it and agree it might be positive, but I imagine they’ll single out landlords as the one group it must be refused to. Plus, since there is to be no spring budget there is now no mechanism to cease, alter or reverse S24 before it’s implementation. We’re buggered.

Reply to the comment left by “James Fraser” at “23/11/2016 – 13:40“:

James,

I suspect it might be a “Good News” I think he wants to support secretively to Landlords as I can NOT think of any other business who is running as individual and then would want to run it as a Company.

This further reinforces the belief the government wanted Landlords all along to incorporate in order to professionalise the sector.

What do you reckon?

James,but next budget is in March and Mortgage Interest relief kicks in April so he could always abolish it in March but doubt he would as he was praising George Osborne that how much of good boy he has been.

Reply to the comment left by “Simon Hall” at “23/11/2016 – 13:44“:

From your lips to Hammond’s ears! Whilst many landlords I know do not wish to incorporate, I am at least open to the idea. The NLA has long since argued that an exit to S24 could be that the govt gave a moratorium on incorporation – say, all CGT/SDLT relieved for 6 months and if you don’t take your chance then you lose the opportunity. I’d consider it.

I can think of many businesses where individuals do the same job as companies and there must be many one-man start-ups that are planning to grow into companies.

Interesting, but nothing whatsoever to help us foreseeably.

Reply to the comment left by “Simon Hall” at “23/11/2016 – 13:44“:

From your lips to Hammond’s ears! Whilst many landlords I know do not wish to incorporate, I am at least open to the idea. The NLA has long since argued that an exit to S24 could be that the govt gave a moratorium on incorporation – say, all CGT/SDLT relieved for 6 months and if you don’t take your chance then you lose the opportunity. I’d consider it.

I can think of many businesses where individuals do the same job as companies and there must be many one-man start-ups that are planning to grow into companies.

Interesting, but nothing whatsoever to help us foreseeably.

Reply to the comment left by “James Fraser” at “23/11/2016 – 13:55“:

“I can think of many businesses where individuals do the same job as companies and there must be many one-man start-ups that are planning to grow into companies.”

Whilst I can agree your above nation however I can not think of any individual other than landlord who will face same detriment by incorporating as Landlords will be subject to raft of potential detriments, such as “Higher Interest Rates, Stamp Duty and Capital Gains Tax. Unless you can claim S162 successfully which in itself is subject to strict criteria and it more of a subjective issue rather than concrete legislation (S162)

“Notion”