Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Rachel Hodge” at “19/01/2017 – 14:48“:

@Rachel,

Great find!. I’ve emailed this to my local MP asking him to write to Philip Hammond asking when he will be repealing Sec.24 in line with Theresa May’s statement, (and also equalising of CGT on residential property with CGT on disposal of other assets). OR whether this just more Government populist rhetoric which it has no intention of acting on.

Reply to the comment left by “Barry Fitzpatrick” at “24/01/2017 – 09:12“:

Thanks Barry. Here are a few other pertinent snippets:

“Businesses large and small are the backbone of our economies, and enterprise is the engine of our prosperity. That is why Britain is – and will always be – open for business: open to investment in our companies, infrastructure, universities and entrepreneurs….”

“…But, at the same time as promoting this openness, we must heed the underlying feeling that there are some companies, particularly those with a global reach, who are playing by a different set of rules to ordinary, working people.

So it is essential for business to demonstrate leadership. To show that, in this globalised world, everyone is playing by the same rules, and that the benefits of economic success are there for all our citizens.”

Reply to the comment left by “Rachel Hodge” at “24/01/2017 – 12:49“:

Hi Rachel. I think they need to get it into their thick skulls that our rental properties are part of the infrastructure. They are ignoring that fact. We need to get ‘business’ leaders on our side – something which we haven’t put a lot of focus on to date. If anyone can think of a way to get the ball rolling on this, that would be great.

Hi Kathy
Then why not sell her a part share of it, 50% or 75% as often happens?

Reply to the comment left by “Gary BTLowner” at “24/01/2017 – 23:36“:

??? – are you in the right thread, Gary? ;o)

Reply to the comment left by “Whiteskifreak Surrey” at “25/01/2017 – 08:16“:

I know, Whiteskifreak. I found that comment bizarre. As if we would go into long-term complicated financial arrangements/partnerships with people whom we often barely know. None of my tenants would be in a position to come up with a partial deposit either or meet the criteria or want to go into business with me either – a relative stranger.

Hi Ros,

It’s jaw dropping to watch this unfold so slowly without those in charge thinking one tiny step ahead to see the effect this will have on tenants. LHA tenants are going to be made homeless on an enormous scale due to S24 and UC caps.

All government and Barwell seem to be focused on is LLs. It’s negligent. We just have to hold on to our hats and tighten our belts to ride the storm until there is enough damage for stupid stupid policy makers to realise what they’ve done. The obvious consequence on tenants. They will be awful.

Rachel

Reply to the comment left by “Rachel Hodge” at “25/01/2017 – 09:57“:

Yes, Rachel. And the likes of Shelter and the Labour Party are complicit. I told them that ages ago – I said that my open letters to Campbell Robb, Siobhain McDonagh et al would stand as testament to the fact that they had been fully informed of the inevitable consequences and still supported this outrageous policy.

Since I have started the incorporation process and started to get stuck in setting it up I am actually comfortable and pleased I am going into a ltd company structure for a number of reasons. I know it’s not for everybody but I really do urge people with sizeable portfolios to speak to mark smith I was a little daunted at first but am now actually pleased at how easy it is. I still totally disagree with s24 but it’s not going away soon so I would suggest to all they look into incorporating as that is the real motivation behind this policy the government wants companies Running the PRS not millions of individuals as it’s easier to police on so many levels from their point of view. If you look at the figures involved from a tax revenue point of view it’s peanuts which makes me believe this isn’t a tax grab but a policy to stream line the PRS just my opinion and I repeat I’m am totally against the policy justice trying to understand the reasoning.

Reply to the comment left by “Rachel Hodge” at “25/01/2017 – 09:57“:

Negligent is an understatement. The latest response I’ve had from Jane Ellison via my local MP, totally ignoring the facts and rubbishing any analogy to what happened in Ireland.

I said a while ago that the Governmenr could change things either the easy way (and save face) or the hard way causing untold misery for milliobs of tenants, and an embarrassing U-turn in Govt policy. Regretably they’ve chosen the latter option so it seems.

One way or another it will be repealled as happened in Ireland.