Appalled Landlord

Registered with
Thursday 31st October 2013

Latest Comments

Total Number of Property118 Comments: 891

Appalled Landlord

13:38 PM, 8th January 2019
About 2 weeks ago

BTL losses brought forward and set off?

Reply to the comment left by Helen Mir at 08/01/2019 - 13:17
Hi Helen

Yes, unless you can input the figure in a box for remaining losses to carry forward.

Either way, you can still file online.... Read More

Appalled Landlord

13:39 PM, 12th December 2018
About a month ago

Why Ireland Is Reversing Finance Cost Restrictions For Landlords

Reply to the comment left by Nick Bennett at 12/12/2018 - 13:04
Hi Nick

An increase in interest cost will not change the rental profit that HMRC will deem you to have made - because from 2020/21 they will leave finance costs out of their profit calculation completely. They will add their deemed profit figure to your other income and work out the tax on the total.

Then they will deduct 20% of the finance costs from this tax figure as a “relief”, to arrive at the amount of tax payable.

So an increase in interest cost will not increase the deemed taxable profit, but it will increase the relief, which will thus reduce the amount of tax payable

However, the effective tax rate will increase because of the reduction in the real profit.

What is not morally acceptable is making Section 24 retroactive, increasing homelessness and potentially bankrupting housing providers.... Read More

Appalled Landlord

17:55 PM, 7th December 2018
About a month ago

79% of Landlords only able to cover their mortgage interest

PricedOut was allowed to make a fallacious claim without rebuttal by the NLA.

They wrote “If they [landlords] leave the market, they are not reducing the supply of housing. If a landlord sells their asset, it is either bought by another landlord or it is bought, eventually, by a homeowner/first time buyer (either immediately or at the end of a chain of transactions). In the former case, the supply of and the demand for rented homes is unchanged. In the latter case, there is one fewer rental home, but also one fewer household demanding a rental home. The overall supply/demand position is the same.”

This is Craw’s Second Law of Renting Dynamics, whose flaws are exposed here:

Craw’s Law was derived from Mulheirn’s Theorem whose flaws are exposed here:

Firstly, it assumes that for every renting household evicted due to a sale there is another renting household that is able to get a mortgage. This is unlikely as there is no correlation between the two factors. Secondly, the number of tenants evicted will tend to exceed the number of FTBs at the bottom of the chain. Thirdly, not all FTBs will have been renting. And finally, some dwellings have left the PRS without being sold to owner-occupiers; instead, the landlords switched to holiday lettings or sold to buyers of second homes. In these cases the eviction of renters does not result in a single renter buying.

For these reasons, as landlords leave the market the number of renters evicted will exceed the number of renters who buy. Rents will rise, and the poorest renters will be put into “temporary” accommodation.... Read More

Appalled Landlord

9:26 AM, 5th December 2018
About 2 months ago

Backdated Housing Benefit decision over 4 years ago!

Reply to the comment left by Mike at 05/12/2018 - 01:01
You are confused. Deducting costs like mortgage interest from receipts is not receiving money from the “public pot”, it is the normal way to calculate taxable profit, under Generally Accepted Accounting Principles which are used by every enterprise in the country.

Disallowing the interest, thus creating fictitious profit, means we will be contributing tax to the public pot at higher rates than any other type of enterprise in the country.... Read More

Appalled Landlord

18:35 PM, 1st December 2018
About 2 months ago

Shelter’s harassment of letting agents is futile, so why are they doing it?

This is Dexter’s robust reply to the bully. It denies discrimination but points out that there is more chance of HB tenants having rent arrears and that it takes six months to get them out.

The reply from Hunters is here

They deny discrimination and point out that circumventing a lender’s conditions could have extremely serious consequences for tenant and landlord alike. They express surprise that Beales refused to give them transcripts of the mystery shopping exercise.... Read More