Telegraph requesting landlord feedback on Budget corporation tax increases

by Dr Rosalind Beck

15:23 PM, 4th March 2021
About a month ago

Telegraph requesting landlord feedback on Budget corporation tax increases

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Telegraph requesting landlord feedback on Budget corporation tax increases

Hello incorporated landlords!

I have had a request from a journalist at the Telegraph, Melissa Lawford, to find portfolio landlords (with profits of over £50k a year) who will be affected by the corporation tax rises in the Budget.

If you can pass your details info@property118.com Neil will forward them to me, and she will get in contact with you.

Also, if people want to share their views on this, please do so below in comments as it is an important topic for us anyway.

Comments

Richard P

16:13 PM, 4th March 2021
About a month ago

The sheep are in the pen

Dr Rosalind Beck

11:09 AM, 5th March 2021
About a month ago

Hey, guys, don't all shout at once!
Is it maybe the case that very few incorporated landlords will be reading this, as most of us hold property in our names?

Beaver

14:08 PM, 5th March 2021
About a month ago

Reply to the comment left by Dr Rosalind Beck at 05/03/2021 - 11:09
It is the case that this doesn't affect most of us as most of us only have 1-2 properties. It certainly doesn't affect me.

The greater issue in the budget is that there's nothing in there that would encourage you to invest in your property to help your tenants decrease their carbon emissions. I have replaced two boilers over the last year and the only thing that made any sense in both cases was to replace one gas condensing boiler with another. I wouldn't be eligible for anything else unless I put in cavity wall insulation and that would be wrong for both properties. For many landlords it wouldn't even be feasible.

The majority of landlords have 1-2 properties.

Katy Ann

17:20 PM, 5th March 2021
About a month ago

The Telegraph are in the habit of finding one or two people adversely affected by some Government announcement, and posting a photo of them with glum expressions alongside an article explaining why they feel terribly hard done by. Telegraph readers then pitch in with acerbic comments about how the people are either not really very hard done by at all, or else have brought their problems on themselves. I’ve never understood why anyone would want to expose themselves to that, frankly.

Beaver

17:57 PM, 5th March 2021
About a month ago

Reply to the comment left by Katy Ann at 05/03/2021 - 17:20
I'm probably more like the majority of landlords in that I only have a small portfolio. I don't feel hard done by by the budget. I understand that the priority is to get people back to work whether you are a landlord or anybody else - no job = no rent.

The big gap in the budget is any kind of incentive to reduce CO2 emissions from property; unless I missed something. The recently proposed plan to make all rental properties band C or above won't address that, it will just do damage.

michael@mjproperty.co.uk

20:22 PM, 5th March 2021
About a month ago

Hi Rosalind
We would be happy to take part
Michael

Dr Rosalind Beck

22:04 PM, 5th March 2021
About a month ago

Reply to the comment left by at 05/03/2021 - 20:22
Hi Michael
Could you give your email address to Neil and he can forward it to me?
Thanks a lot
Ros

Harry

14:27 PM, 6th March 2021
About a month ago

I was asked by my local Landlords Association to do an article with my local paper. Worst thing I could have done! My picture was the full size of one sheet of the paper. The article did not really reflect what I had said. Unless a future journalist would allow me to read what they were going to print first, I would never entertain them again.

Dr Rosalind Beck

15:07 PM, 6th March 2021
About a month ago

Reply to the comment left by Harry at 06/03/2021 - 14:27
Hi Harry
I'm sure the Telegraph journalist would allow you to okay it first. But I understand how some journalists twist things. The Guardian is terrible for it. I co-operated with them on an article and they made sure they put a 'flash' landlord in front of a posh house and a Bentley - so the photo did more damage to our reputation than any words could do.

Paul landlord

16:04 PM, 6th March 2021
About a month ago

I find this thread interesting (although a lot of the most interesting comments off pistè!) and now commenting though it wont be of any use but feel vindicated now!

Big or small is subjective so just easier to say I've got 42 properties in my portfolio since 1988 (down from 47 after selling the 5 I bought in New York state a decade ago).

My accountant and I debated every year over the years about incorporation but decided it was a 6 or two 3's situation. So stayed unincorporated.

It goes without saying that since s24 was mentioned and it then became obvious we couldn't fight back (justice done by refusing a judicial review eh!) then incorporation was back up for review again.

With my finances not being straightforward on the properties, the costs involved of incorporating 42 properties and my mistrust of the gov not screwing lanlords over again by moving the goalposts on incorporation negating any advantage gained i decided not to incorporate. So glad not incorporated.

My gameplan was simply to pay off all the finances on any not owned outright properties and offload a few at the right time.

This plan has been working well but with the gov now emptying my pockets going forward with requiring epc Cs far earlier (got all mine into Ds a few years ago) and also the world of the gas boiler being eliminated requiring massive investments yet again then the future is looking less certain. Best laid plans only to be frustrated by the gov again.

Playing things by ear 'adapt and survive' being the mantra.

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