Michael Gove, Section 24 and Mars bars?

Michael Gove, Section 24 and Mars bars?

0:02 AM, 2nd November 2023, About 6 months ago 35

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Last week Housing Secretary Michael Gove stated that he had been in discussions with HM Treasury to investigate the possibility of providing additional tax incentives for landlords.

Mr Gove was asked at the NRLA conference whether the mortgage interest relief removed by George Osborne in 2015 would be reinstated.

Mr Gove said: “I do recognise that since 2015 the gradual withdrawal of mortgage interest relief has been difficult for many within the private rented sector.

“There are two factors in play here [why the government won’t be reinstating it] – one is that many older landlords have properties on which they had relief; and why should a landlord have a more favourable tax regime than those seeking to buy properties as a home for themselves?”.

The private person doesn’t get tax relief on a Mars Bar because he’s purchasing it for himself, so he doesn’t get charged any tax to use any tax relief. The stupidity of Michael Gove!

The shopkeeper does get tax relief otherwise there would be no shops if he didn’t.

Same as why now you have no houses, and it has cost the government and councils way more in homelessness since George Osborne introduced this barmy Section 24 setup. Never mind the human turmoil on desperate tenants.

You buy a car for yourself, you don’t need tax relief. A car rental buys to rent out, and he or she gets tax relief. Otherwise, there’d be no car rental companies.


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Comments

Fergus Wilson

7:39 AM, 4th November 2023, About 6 months ago

It was a gross error of judgement to remove mortgage relief to start with!

The number of BTL mortgages took a nose dive and has not recovered,

HMG wants the Private Sector to provide housing rather than non PSLs

The way to achieve that is to introduce incentives,

There is always some mandarin in Whitehall who comes up with some bright idea which does not work such as removing mortgage tax relief.

The more incentives HMG gives the more likely a person is to buy a house to rent out!

david porter

8:51 AM, 4th November 2023, About 6 months ago

Even I realise that Fergus has a very large axe to grind.

Mick Roberts

9:14 AM, 4th November 2023, About 6 months ago

Reply to the comment left by Dylan Morris at 03/11/2023 - 09:53
Wow that's another thing to think about then, the CGT can cost u more too.

michael caffyn parsons

11:58 AM, 4th November 2023, About 6 months ago

Gives utter failure to build enough houses is the problem not landlords

Dylan Morris

12:00 PM, 4th November 2023, About 6 months ago

Reply to the comment left by michael caffyn parsons at 04/11/2023 - 11:58
Compounded by out of control mass immigration. One million came in last year.

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