General Election 8th June – Who on earth do landlords vote for?

Reply to the comment left by "Cautious Landlord" at "21/04/2017 - 08:15":

I agree with your sentiments. But in fact, if interest rates go up you will under s.24 pay LESS tax, - if you pay £1,000 more interest due to a rate increase the new "relief" would increase by £200 so you after tax profit would be £800 lower (£1,000-£200=£800 net)

Answer the following two questions:
1. who would you vote for if s.24 didn't exist?
2. do you believe that s.24 will be repealed eventually? (this might be in 5 years time)

If you answered "Yes" to Q.2 then who is the party to Government in a post s.24 environment?

1, yes

2, I'm not sure to be honest as I genuinely believe they don't won't individual landlords dominating the PRS and want companies to take control, small and large hence pushing some out of the door and others to incorporate and set up LTD companies moving forward
But we all know they change their minds like the UK weather

Reply to the comment left by "Cautious Landlord" at "21/04/2017 - 08:15":

Not voting may be childish, but spoiling your vote certainly is not! What does demonstrate very child-like thinking is to settle for something, even though it flies in the face of your principles. It seems it is deep within the British-psyche to help someone along, even if you don't like them than to *feel* you had no part in the grand show -after all, it's the taking part that counts (and to spoil your paper is 'not taking part').

Nonsense! It's like the ultimate form of lobbying. 'None of you chime with my thinking and thus you must drastically change.'

Reply to the comment left by "Cautious Landlord" at "21/04/2017 - 08:15":

Anything but a Tory government is the "least dreadful option"?

Really?

A tax bill in excess of your profit, for starters......

That isn't bad enough for you, not to vote Tory this time?

What about a few of these little wonders we already have coming...

A phased in bankruptcy that sees favoritism heaped on the corporates and oblivion for BTL individuals, that can't raise rents?

A "bigger picture" of the rest of the country only paying a tax rate of 20% and BTL landlords 25% + of turnover and also profits also.

A government that lets you get vilified by the media, tells people that you get special treatment and your not on the same playing field as all other taxpayers?

A government that is looking to stop tax avoidance by individuals incorporating?

Legislation saying that you can be fined £30,000 without a fair trial?

A government that thinks capping energy companies will work?

A government that says you pose a risk to the financial stability of the country and slaps an extra 3% stamp duty on anything you buy over £45,000?

A government that slaps extra Capital Gains Tax on you?

A government that makes the BOE squeeze you out of the loans market?

A government that forces you to do a quarterly tax return?

You think that death by a thousand cuts is better than a full on face to face battle with your enemy?

I'm not so sure, I like the sound of that.

I'm no dope,

So if I'm going to have my 'hoop' shafted by a group of discriminating morons called the Tory government then I don't think I can reward them with a vote,

I'm not going to drop my trousers, bend over and work up a rhythm for them.

What I suggest is that the Torys get no backing from Landlords at all and that UKIP or a similar party get it instead.

It's better than wasting or spoiling your vote.

Speaking of which, I have been doing for years, by voting Tory in a safe Labour seat, so it actually makes sense to vote tactically.

By denying them my vote and voting for UKIP, they will want my vote, should I survive, next time around.

If the conservatives get a thumping majority, the chances of you being a BTL Landlord by the time of the next election doesn't look to rosy.

If Labour and Lib dems had a coalition and attack us, the Tories would probably back us.

To be honest, I think voter turnout may be an issue this time.

I think that the Tories have underestimated this election and it's not as clear cut a win as they think it's going to be.

Ann Widicombe was on the telly last night suggesting that the election was in the bag,

Really?, I seem to recall a certain Neil Kinnock celebrating a win in the not too distant history and it didn't quite go to plan for him.

Gary couldn't agree with u more the torys are the enemy of the hard working middle classes I am staggered that so many landlords are even considering voting for them it's the only weapon we have.

U have missed a few universal credit, no direct payment, billing u when ur house is vacant and if u are lucky enough to afford a car over 40k guess what it's gunna cost u an extra 1200 per year on top of the 450 in road tax the over priveliged toffs are treating the middle classes like cash cows squeezing us for every penny they can get i repeal my earlier comment I wouldn't vote for them even if s24 wasn't there the more I think about it

GARY FOR PM

Hi Gary have u done anything to prepare for this massive shafting ? Incorporate ? Options ?

Reply to the comment left by "Gary Dully" at "21/04/2017 - 02:34":

Gary. Have you thought about putting yourself forward as a UKIP candidate? You could then be the landlords' champion within. You might have to compete for election. Would you be up for it? We could raise the funds here to pay your expenses.

If anyone cannot incorporate a partner of mine who has 350 properties has gone down the option agreement route has ran it by various tax experts and apparently it's a goer just thought I would share that for anyone undecided ?

I have been investing in property since 1976 and have been through so many up and downs that I just view this as another in a long history. My first deal was done on an overdraft at 20% so the interest rates over the last few years have had by far the biggest positive impact on my business.
Other changes such as universal credit cost me £4000 on one property last year and I am still waiting for a response to my formal complaint about not paying me directly after two months arrears.
Remember the removal of interest allowance under MIRAS and when you could only take £25 when you went on holiday abroad, or going begging to the IMF or devaluation of the pound.
At one time or another I have voted for all the political parties based on what is good for the nation and what is good for me. Please do not ruin you ballot paper as this is an insult to the people who fought for it.
I shall be voting Tory if only because I can see no one else who can negotiate a sensible deal on Brexit which I think it the most important issue at present.
Myself and other people have done very well out of property over the years but it has on occasions been very difficult with banks losing interest, switching accounts to repayment, asking for overdrafts to be repaid and for a long time not having any of the buy to let mortgages or bridging funding available.
Politicians cannot balance the books so look for somewhere to get extra money and at the moment landlords are getting hammered.
Having Labour or the Lib Dems in at the moment would in my opinion be far worse - if a Tory government can do what they are doing just imagine how much worse it could get.