Iain Duncan Smith Has Spoken Out For Landlords

Iain Duncan Smith Has Spoken Out For Landlords

22:06 PM, 21st June 2017, About 4 years ago 163

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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

by Appalled Landlord

18:26 PM, 19th September 2017, About 4 years ago

Reply to the comment left by Whiteskifreak Surrey at 19/09/2017 - 16:32
Hi WS

Try googling:

Choke buy-to-let to help deliver home ownership for young voters

Then click on the FT link that appears. You will be able to read it and copy it to your computer. The FT article might disappear after a while.

by Tracey Hanbury

15:09 PM, 4th November 2017, About 4 years ago

UK Landlords put your questions to Iain Duncan Smith directly.

Dear fellow Property 118 Members,

My name is Tracey Hanbury and I am one of the Directors of the National Landlord Investment Show and also the Editor of Landlord Investor Magazine.
I am interviewing Iain Duncan Smith this coming Tuesday 7th at our show at London Olympia. My Husband and I are also Landlords so understand all the challenging aspects of being a UK Landlord personally. I would like to ask Property 118 Members to send me some questions that you would like me to ask IDS to answer, obviously ones that I can air and publish please.
This is a great opportunity to get some questions answered and for the Government to hear our worries and concerns.
IDS will also be on our expert panel at the show. You can book tickets via our website http://www.landlordinvestmentshow.co.uk
You can either add your question with your name to this conversation or email me directly ASAP to Tracey@landlordinvestmentshow.co.uk

by Dr Rosalind Beck

17:33 PM, 4th November 2017, About 4 years ago

Reply to the comment left by Tracey Hanbury at 04/11/2017 - 15:09
'Do you agree that it is right that private landlords have to pay tax on the profit of their business but are not allowed to offset the costs of producing that taxable profit?'

by Tracey Hanbury

17:41 PM, 4th November 2017, About 4 years ago

Reply to the comment left by Dr Rosalind Beck at 04/11/2017 - 17:33
That's great Dr Rosalind Beck, I will ask this question on your behalf.

by Dr Rosalind Beck

18:35 PM, 4th November 2017, About 4 years ago

Reply to the comment left by Tracey Hanbury at 04/11/2017 - 17:41
Thanks, Tracey. Perhaps you can let us know here how he answers it? All the best.
Ros

by H B

19:15 PM, 4th November 2017, About 4 years ago

Reply to the comment left by Appalled Landlord at 19/09/2017 - 18:26
This topic had popped up in today's Times as well - the same MP us behind it, but suggestion that Hammond is going to continue Osborne's campaign against landlords at the budget.

Not sure what else he could do that hasn't been done already. Politicians have done their best to kill off our livelihoods and the PRS as a whole.

by Property Wannabee

19:24 PM, 4th November 2017, About 4 years ago

1) Are the government skewing the market from small landlords to the corporates through their different tax treatments?
2) Do they think the corporates will resolve the housing shortage?
3) Will the govt ensure that the profits received by these corporates are adequately taxed and not used to offset losses from other losses (especially the insurance and pension industries)

by david porter

19:51 PM, 4th November 2017, About 4 years ago

Globalisation has caused the High street to be too difficult for the small businessman.
There are limited opportunities other than being a landlord.
Osborne declared war on the Landlord and had caused collateral damage on tenants.
Why do you suspect that the Conservative Party lost so many seats at the election?

by Gromit

20:13 PM, 4th November 2017, About 4 years ago

Reply to the comment left by Tracey Hanbury at 04/11/2017 - 15:09
Hi Tracey

Can you ask?
"Do you think that this Conservative Government has lost the confidence of the 2 million private Landlords (and many of their votes) with its anti-private Landlords policies?
Do you think that what happened in Ireland when similar measures were introduced will be replicated here in the UK?
Do you think this Governments anti-Landlord policies will increase or decrease homelessness?

by Property Wannabee

20:32 PM, 4th November 2017, About 4 years ago

I know not related to the current tone of the post - but no landlord ever votes for anyone other than tory so threatening a loss f votes won't work. Questions need to be targeted at things the tories care about - being seen to resolve the housing shortage and ensuring profits are taxed . Sorry just my opinion - less than 5% of landlord will vote labour - they all think corbyn is going to regulate rents.

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