Charities urge Labour to tackle ‘discriminatory’ PRS guarantor rules
1 year ago | 16 comments
Disgusting Slur on Landlords by Leftwing Media
9:23 AM, 19th March 2025, 1 year ago
49
News that Britain’s landlords have increasingly moved from holding property in their personal names to limited companies has been slammed by one journalist as ‘widespread tax avoidance’.
Writing on the left-wing website, Novara Media, Harriet Williamson said: “Let’s call this what it is: widespread tax avoidance by a workshy, parasite class – and at a time when the Labour government is set to drive through welfare cuts targeting some of the most severely disabled people in the UK.”
The article, ‘Buy-to-Let Landlords Are Dodging Tax En Masse’, goes on to slam landlords for not creating anything, including housing stock, ‘except perhaps anxiety and anger among tenants’.
The journalist and former editor at Pink News and the Independent warms to her theme and adds: “These so-called investors are leeches, firmly attached to the bare legs of those who haven’t managed to get on the housing ladder.
“And they’re not just skimming off renters’ paychecks: in 2024, the average landlord had 8.6 homes in their portfolio, generating a gross annual rental income of around £8k per property.
“If you live in any London borough bar one, they’re taking an excess of 40% of what you earn each month.”
Boom in buy to let companies
Ms Williamson was responding to a report from Hamptons which highlights a boom in buy to let companies, with figures rocketing to a record 401,744 in February.
Incorporated landlords now outnumber takeaways and hairdressers nearly fourfold.
This surge, driven by landlords shifting properties into limited firms can help mitigate tax burdens and since 2016 there has been a 332% rise in such businesses, Companies House data reveals.
Last year alone, 61,517 new firms emerged – a 23% jump from 2023’s previous high.
Limited company structure
Aneisha Beveridge, the head of research at Hamptons, said: “The limited company is now the structure of choice for the next generation of investors.
“Current tax rules mean that most, although not all, new investors find themselves better off in a company structure than owning an investment property in their own name.
“This means the number of limited companies is likely to continue its upward trajectory for the foreseeable future.”
She added that last year, incorporation numbers might have peaked since higher stamp duty rates will prevent some investors from moving property into a company structure.
Being a landlord ‘is not a job’
Ms Williamson goes on to say that being a landlord ‘is not a job’ because being a BTL landlord means ‘allowing someone who needs a home to pay the mortgage on it’.
She calls this a passive income and says landlords are incorporating because they realise ‘there’s more wealth to be hoarded this way’.
She adds: “We all need to live somewhere.”
Since social housing stock has been decimated, she says that tenants are ‘draining’ their own capital reserves to pay rent to fund more investment in rented property and the landlord’s ‘lifestyle’.
Ms Williamson goes on to say: “But the proliferation of buy to let businesses shows how Britain has become a playground for people who don’t make things or do things but just have things.
“If Starmer means it, then when will Labour crack down on mass tax avoidance by landlords, feeding off their tenants’ labour?”
Tags:
BTL, Buy To Let UK, housing market Britain, Labour welfare cuts, landlord incorporation, landlord tax avoidance, limited companies property, rent prices UK, tenant struggles UK, UK Property Investment
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Member Since September 2015 - Comments: 1013
8:06 AM, 20th March 2025, About 1 year ago
Reply to the comment left by Monty Bodkin at 19/03/2025 – 22:55
… Sorry I can’t recall where I read this.
Member Since October 2013 - Comments: 1630 - Articles: 3
11:06 AM, 20th March 2025, About 1 year ago
Reply to the comment left by Stephen Smith at 19/03/2025 – 17:37
I have one left and the tenant has just given notice.
I’m retired and have had enough. No profit and still suffering from the effect of leasehold on flats. Time to get out.
Member Since July 2013 - Comments: 1996 - Articles: 21
11:53 AM, 20th March 2025, About 1 year ago
Under s24 Finance Act landlords pay a tax of 20-25% of their mortgage interest. If you pay £1000 tax on an income of £5000, that’s a 20% rate. If you pay it on an income of £2000, a 50% rate. On £1000 income, 100%. On £100 income, it’s 1000% and on zero income (i.e. break even) it’s infinity – ∞ – than which there can be no higher tax rate in the known universe (assuming other civilizations with taxes!)
Would any rational person want to pay such a rate? No.
The irony is that the picture in Novarmedia’s article calls for a cut in rent. Section 24 has contributed to increases in rent.
Member Since April 2023 - Comments: 174
7:31 AM, 22nd March 2025, About 1 year ago
Reply to the comment left by Cider Drinker at 19/03/2025 – 17:13
Blimey. Don’t ever suggest that. Our maintenance costs are so high.
Member Since May 2019 - Comments: 121
10:04 AM, 22nd March 2025, About 1 year ago
SHELTER bound no doubt.
Carchester.
Member Since September 2015 - Comments: 1013
10:36 AM, 22nd March 2025, About 1 year ago
Reply to the comment left by Carchester at 22/03/2025 – 10:04
… probably had her ear bent by Shelter over a expensive lunch somewhere – it’s the champagne socialist way.
Member Since May 2019 - Comments: 121
10:39 AM, 22nd March 2025, About 1 year ago
Reply to the comment left by Gromit at 20/03/2025 – 08:06
Blackrock /Blackstone
See below link
https://www.logicallyfacts.com/en/fact-check/blackrock-did-not-make-ps14-billion-real-estate-deal-in-uk-housing-market
Carchester
Member Since October 2013 - Comments: 1630 - Articles: 3
11:43 AM, 22nd March 2025, About 1 year ago
Reply to the comment left by Gromit at 22/03/2025 – 10:36
It’s the Islington dinner set.
Member Since March 2016 - Comments: 50
12:14 PM, 22nd March 2025, About 1 year ago
Can you imagine if she wrote an article about women being leeches, not working but sitting at home just nagging their men for more holidays, then divorcing them and grabbing half of everything they have and 80% of their income. That would lead to Starmer’s police knocking on your door and putting you in a cell for hate speech would it not. So why is this woman not being put in jail for hate speech and discrimination ? Gender issues, immigrants, you’re not allowed to say a single thing or else – but here she comes with discrimination and hate speech. Why does she not go and do something productive with her time and life ? Like repair a roof, paint rooms, put new appliances in kitchens, renovate, get better EPCs, write politicians so more houses will be built and actually building them.
Member Since May 2017 - Comments: 763
12:37 PM, 22nd March 2025, About 1 year ago
Reply to the comment left by Accommodation Provider at 22/03/2025 – 12:14
You’re right, this is hate speech and makes me, as a landlord feel unsafe.
She should be given a prison sentence or at least have a knock at the door from a couple of policemen