Iain Duncan Smith Has Spoken Out For Landlords
On Sunday 18th June 2017, Iain Duncan Smith was quoted by the Sunday Telegraph as saying ….
“Finally, it is time to look again at the way we treat private landlords who buy houses to rent. George Osborne’s decisions to impose a stamp duty levy on the purchase of homes to rent, to restrict mortgage interest relief to the basic rate of income tax and to tax a landlord’s turnover rather than profits have led to landlords scaling back or even leaving the sector altogether.
They are a significant provider of the additional housing we need. We should be encouraging them with devices such as VAT relief on conversions or even capital allowances, not punishing them. It’s no wonder buy-to-let purchases have fallen dramatically. If the purpose was to stop foreign owners buying up property and leaving it empty
…………………………………………………. We are in danger of throwing the baby out with the bath water.”
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
Previous Article
Call from 60 year old deceased tenant's ex-partner?
Member Since October 2013 - Comments: 804
12:08 PM, 23rd August 2017, About 9 years ago
I think all landlords on here should submit under the landlord union with real life Personal stories of the devestation this horrid tax is now causing. The personal stories of tenants seeing rent rises and evictions purely due to this assault will hopefully resonate with the government or you would like to think so.
Member Since November 2013 - Comments: 176
1:35 PM, 23rd August 2017, About 9 years ago
I suppose this is a prospective consultation seeking to amend the retrospective lack of it in the hands of G.O.
I agree we should make the most effective representations possible. So far we have been banging our heads against the wall.
Inspired by what happened in Berlin we should dig deep and reinvent the wheel of protest according to their offered script.
If it were not for this community I would be none the wiser. I’m sure the government seek to keep it that way.
Let the new wave of enthusiasm commence. Who wants to kick off? Indebted thanks to prop 118.
Member Since December 2016 - Comments: 85
2:42 PM, 23rd August 2017, About 9 years ago
I sent a letter to IDS thanking him for his article and copied in my own MP, Alok Sharma and Theresa May. Included a full run down of the demographic group for which I provide housing, the personal impact to myself, etc. etc.
IDS didn’t respond but I think he’s had quite a few letters of appreciation from us landlords but I did get a response from my own MP with the usual ‘I will pass on your letter to the Treasury’ blurb but, I did also get an acknowledgment from Downing Street that my letter had been received and read. So, you never know!
All we can do is keep on plugging away at it.
I still think they’ll abandon it after two years so am hanging on in there for the moment.
Member Since March 2017 - Comments: 38
7:04 PM, 25th August 2017, About 9 years ago
In my area of south yorkshire nothing is selling and private tenants are on an astronomical rise. Unfortunately these tenants are being robbed of benefits which pushes them to stop paying rent.
Landlords take the hit again, looks like its coming from both sides again. Selling my properties is now a way out for myself and other landlords, which is not good for anyone. I am giving my tenants first choice to purchase the properties they are renting to try to soften the blow to them.
Am l doing the right thing or am l just alone in going down this avenue. I feel bad for the people l may have to move out, unfortunately its only getting worse.
Houses not selling, tenants not paying rent, tories have a lot to answer for.
Disillusioned!!!!!!!
Member Since January 2016 - Comments: 14
4:59 PM, 8th September 2017, About 9 years ago
Reply to the comment left by Dr Rosalind Beck at 21/06/2017 – 22:50
Have you had any reply from this ?
Member Since September 2016 - Comments: 2533 - Articles: 73
5:34 PM, 8th September 2017, About 9 years ago
Reply to the comment left by Demented Landlord at 08/09/2017 – 16:59
No!
Member Since October 2013 - Comments: 804
10:15 AM, 13th September 2017, About 9 years ago
Article in the BBC about homelessness would it be worth contacting them as we all know this is the tip of the ice burg now s24 has started
https://www.google.co.uk/amp/s/www.bbc.co.uk/news/amp/uk-41241021
Member Since December 2016 - Comments: 85
10:39 AM, 13th September 2017, About 9 years ago
Reply to the comment left by NW Landlord at 13/09/2017 – 10:15
I have just registered and sent an email. You never know. As I keep saying, every little helps.
Member Since October 2013 - Comments: 804
10:20 AM, 19th September 2017, About 9 years ago
https://www.ft.com/content/296227f0-9966-11e7-8c5c-c8d8fa6961bb
Member Since February 2016 - Comments: 977 - Articles: 1
4:32 PM, 19th September 2017, About 9 years ago
Reply to the comment left by NW Landlord at 19/09/2017 – 10:20
Unfortunately without subscription, I am unable to read the article. Is that something about chocking off the PRS in order everyone owns a house? If so this is the greatest idiocy I have ever seen. I am so fed up that I might consider to permanently leave the sector. Today I see a title about stamp duty being switched to the sellers. That means we will be paying twice. Enough is enough.