Simon Williams

Registered with Property118.com
Monday 11th July 2016


Latest Comments

Total Number of Property118 Comments: 77

Simon Williams

13:43 PM, 14th September 2019
About 5 days ago

Government theft of another's possessions is plain wrong

We shouldn't be side-tracked here I know, but in response to the observation that Scandinavian countries are socialist, I sharply disagree. Sweden is one of the most capitalist countries I have ever been too. Don't be fooled by relatively high income tax rates. On at least one measure of income inequality, Sweden ranks higher than the UK. As for happiness, I would say it's debatable. Look at the WHO stats on suicide rates. All Nordic countries have higher suicide rates than the UK. Finland's is nearly 3 times that of the UK. (socialists will presumably blame that on the weather).

And back to property, you might be interested to know that in Sweden, 36% of properties are rentals. More than the UK..... Read More

Simon Williams

11:07 AM, 12th September 2019
About A week ago

Government theft of another's possessions is plain wrong

Mark Twain once wrote:

"I've had a lot of worries in my life, most of which never happened"

But then again, he wasn't a British Landlord.... Read More

Simon Williams

10:51 AM, 12th September 2019
About A week ago

Wild west policy changes are damaging landlord confidence

On Monday I advertised two rooms in an HMO in Cambridge and received 103 responses in the first 24 hours. That's more than in pre-Brexit days. It's gone mental.

So many of these people start their emails by saying something like "I have to leave my current place because the landlord is selling".

If you keep squeezing the PRS, it will eventually have an impact.... Read More

Simon Williams

10:37 AM, 12th September 2019
About A week ago

CGT should be the same rate as income tax and reliefs abolished

The IPPR describe themselves as the UK's leading "progressive" think tank. "Progressive" means left leaning so no surprise they are anti-landlord and anti-wealth creation.

They have of course lied by omission. Although it was true that CGT and income tax rates were once the same, back in those days you had two crucial benefits. Firstly, taper relief meant that the longer you held property, the lower your CGT rate would be. This would reduce a 40% rate down to 24%. Second, you had indexation allowance designed to ensure you weren't taxed on purely inflationary gains. Now you ARE taxed on inflationary gains.

I also seem to recall Osborne toying with the idea of raising CGT (afterall, he hated us) and deciding that the 28% top rate was actually the optimal amount beyond which the tax take is likely to fall rather than increase. So he kept it at that.

Despite all this, I would say it is a near certainty that Labour would seek to increase CGT if it came to power. Even if the Treasury advised against.

Never has the outcome of a general election been so crucial to the future of landlords as the one which will soon be upon us.... Read More

Simon Williams

10:35 AM, 6th September 2019
About 2 weeks ago

McDonnell's distorted and dangerous version of Right to Buy

The post by Binks about buying up a dilapidated town house and creating 5 high end flats is interesting for at least 2 reasons. First, a reminder that landlords often play a vital role ADDING to supply by bringing back existing property into productive use. Second, that a McDonnell style policy would set up hugely damaging distortions in the PRS as landlords inevitably change their renting model to reduce the risk of RTB. If you have a 3 bedroom house which you could either rent out to a family or let out on a room-by-room basis to 3 students or overseas nationals, which would you choose if the first option risked a massive expropriation of the asset? No brainer really.... Read More