Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
The Remit of the Programme was:
What happens to the Tenants when the Landlord Retires or Dies!
Why are Private Sector Landlords (PSL) leaving in droves, because of the punitive tax regime!
Unfortunately Panorama sacrificed an informative explanation of the reasons for the PSL exit in favour of two “non stories” from tenants and thereby bringing Panorama into disrepute.
Why were these none stories? Firstly Mr and Mrs Holmes had been to court and the Council had withdrawn its case! The Council was perfectly entitled to withdraw the Case!
Contrary to what Richard Bilton said there was no prosecution for No Heating! The prosecution was for no hot water. The next tenant moved in and found a working immersion heater. Mrs Holmes had failed to turn it on! Yet Panorama ran its left wing piece instead of explaining the reasons for landlords exiting the Sector!
The second couple were equally at sea and had no case! Their shopping list of faults were all non-faults, but that is not why I gave a Section 21. It is because the tenant said that he was upset at a £50 a month increase and did not want future increases which were inevitable! It is far better to deal with the situation immediately rather than have a repeat next year.
I noted one tenant had to pay £2,600. Well that is a surprise! Cheaper to pay £50 a month for six months! The house has been re-let at £50 more!
If the function of Panorama is an educational one then the programme failed miserably to deliver the message of why PSLs are so annoyed with HM Government Tax Regime that they are pulling out of the Sector. The Government is most un-businesslike in its methods. If a business has a shortage then it gives incentives, not disincentives which is what the Government is doing at the moment!
That in simple English is tax breaks. I suggest that Capital Gains Tax is reduced to ten percent! The Revenue will suffer a heart attack, but tenants will have a Roof over their Heads!
There should be Full Tax Relief on Mortgage Payments at the top rate!
Again, HM Government has to decide whether it wants tenants to be housed or not!
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