Private landlords on tenterhooks bracing for yet another attack?

by Dr Rosalind Beck

10:31 AM, 9th February 2021
About 2 months ago

Private landlords on tenterhooks bracing for yet another attack?

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Private landlords on tenterhooks bracing for yet another attack?

Private landlords are on tenterhooks once more prior to the Budget, bracing ourselves for yet another attack. The rumour is that we are to be slammed with a massive increase in Capital Gains Tax. I have explained why this is so wrong on many levels and made some alternative suggestions in an article I was asked to write for a political website here. I would appreciate it if as many landlords as possible read it and gave it a positive rating (this may help me to get more similar articles published in the future).

Will Rishi dish landlords in his Budget — yet again? | TheArticle

In such articles, there is a word limit, so I couldn’t go into everything that has been done against us in recent years, so feel free to add anything about any of this here. For example, there is the big issue of Energy Performance Certificates, which I didn’t have space to mention. The idea that countless millions of homes can get a C rating on the EPCs by 2025 is a joke. The Government doesn’t seem to have a clue about the older buildings in the PRS and the huge amount of money that would be needed – and even then, it might be impossible to bring them up to a C.

I also could have mentioned HMO licences and the cost of them also and how the schemes are one big racket. Also, there are the Rent Repayment Orders – a landlord could rent out a beautiful house, at a cheap rate and with all health and safety measures at an excellent standard – but if they didn’t know they needed a piece of paper from the council and didn’t pay the £800 or so fee – they face paying back a year’s worth of rent on top of a £30,000 fine – and that is per property.

These punitive policies are a disgrace for a so-called Conservative Government. They are more befitting of a Socialist/Communist state.

We need the Government to have a positive vision for the sector, with incentives and fair taxes. That is how a Conservative Government should be behaving. Please pass this on to your MP, to the Treasury or to whomever you want. It all helps. Although of course, what we really need is an organisation which will take on these fights for landlords, preferably in the legal arena.

Comments

budd

10:55 AM, 9th February 2021
About 2 months ago

Excellent write up. Government should help the Landlords who are providing a service instead of hindering.

CazT

11:56 AM, 9th February 2021
About 2 months ago

Brilliant article but I fear we will be stuffed again. I am a typical pensioner with one property left which I wasn’t planning on selling as I have long term tenants. However, I will be watching this budget carefully and make my decision afterwards....

TheBiggerPicture

12:07 PM, 9th February 2021
About 2 months ago

Thanks

DGM

12:16 PM, 9th February 2021
About 2 months ago

Very good article, HM Gov are using Landlords as cash cows and we are nearly milked dry, so who will they target next?

budd

12:20 PM, 9th February 2021
About 2 months ago

Reply to the comment left by DGM at 09/02/2021 - 12:16
Landlords are a soft target for the Government

Seething Landlord

12:29 PM, 9th February 2021
About 2 months ago

I don't understand why you would want to see a 20% tax on capital gains from the sale of the principal private residence.

Chris Novice Shark Bait

12:48 PM, 9th February 2021
About 2 months ago

As a Landlord I agree. There are many more none landlords who will not. All section 24 arguments fell on deaf ears. How do we supply hearing aids? How do we influence what sits between those deaf ears? Nothing wrong with the article, apart from doubtful effectiveness. Well done for writing it. Thanks.

Chris @ Possession Friend

13:03 PM, 9th February 2021
About 2 months ago

Unfortunately Sec 24 ( and all the other assaults on Landlords ) hasn't seen significant reduction in Landlords. All the signals to Govt are that we're Easy-meat, or as some put it, 'the Golden goose that keeps on giving '
Landlords aren't co-ordinated and ready to take action. ( it pains me to say )

David Price

14:33 PM, 9th February 2021
About 2 months ago

Never sell your property, put it in a company and sell shares in the company.

LaLo

14:44 PM, 9th February 2021
About 2 months ago

I feel fines are set at the persons ability to afford to pay. L.L.s have nice juicy assets - lovely! The council say it's to improve the standard of housing but Many LLs are selling up in our licencing areas - but - there are few buyers so they're going to 'rack n ruin' so no improvement there! If the fines where realistic then some LLs may stick but at £30k it's not worth the worry!

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