Treasury response to Section 24 report by Dr Rosalind Beck
3:34 PM, 17th November 2016, 9 years ago
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Below is the response from HM Treasury to the comprehensive report written by Dr Rosalind Beck on Section 24 of the Finance (No. 2) Act 2015 “the unjust legislation that will make the UK housing crisis much worse.”
Click Here to Download the full report by Dr Beck
Please leave any (polite) comments you would like the Treasury to take on board and we will inform the HM Treasury that real landlords’ views of Section 24 can be found here.
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Member Since September 2016 - Comments: 2533 - Articles: 73
12:41 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “Mark Shine” at “21/11/2016 – 10:21“:
I think these big companies ought to worry though – as we all know the world is a weird place now and if Labour got in they would have no qualms in immediately bringing the big boys into the twilight zone of s24. Then we can watch them ‘squeal.’ They have been shameless and a woman running one of these institutions was gloating at one point at how s24 was making things really good for them and their ‘investors.’ Well Ms Schadenfreude. Watch out as you might be next!
Member Since July 2015 - Comments: 393
12:42 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “Roanch 21” at “21/11/2016 – 12:37“:
Isn’t that how income tax already works? You pay according to how much you earn? (unless you’re a landlord).
Member Since August 2014 - Comments: 131
12:49 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “Kathy Evans” at “21/11/2016 – 12:42“:
…actually you get taxed on profit normally not income Kathy Evans
Member Since August 2014 - Comments: 131
2:52 PM, 21st November 2016, About 9 years ago
Oh my goodness …I just looked up “Schadenfreude” I had no idea of this expression I have never heard it mentioned even …
“ˈʃaːdn̩ˌfʁɔʏ̯də] ( listen); lit. ‘harm-joy’) is pleasure derived from the misfortune of others. Borrowed from German into English and several other languages, it is a feeling of joy that comes from seeing or hearing about another person’s troubles or failures.”
Very funny !!
Member Since September 2015 - Comments: 237 - Articles: 4
2:53 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “Barry Fitzpatrick” at “21/11/2016 – 12:26“:
Hamish & Barry,
Indeed you are both right. I have experienced the same. The ONS blames divorce rates as one of the key factors in the reason a smallish population growth requires many more houses.
Member Since November 2016 - Comments: 47
4:05 PM, 21st November 2016, About 9 years ago
The flaw in their logic is obvious: they don’t want some landlords to get interest relief at higher rates, but they do want some landlords to pay tax at higher rates.
This type of quirk is outside all the normal rules of taxation and is about as ill-conceived as the withdrawal of the personal allowance for incomes above £100,000.
For the landlord with combined income just over £100,000 and interest representing 50% of rent, his marginal rate of tax will be 100% when the full measure comes in.
They also try to justify it by saying it will not hit that many landlords. A bit like trying to justify heart attacks.
Member Since May 2015 - Comments: 2188 - Articles: 2
4:19 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “Richard Mann” at “21/11/2016 – 14:52“:
I suspect that you would also be interested in the basic laws of human stupidity. A interesting perspective on the human race.
http://www.extremistvector.com/content/stupid.html
Member Since August 2014 - Comments: 131
4:55 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “David Price” at “21/11/2016 – 16:19“:
Hi David
Thanks for the link
So many ponderings answered in one swoop.
Absolute must read for any Landlord dealing with officialdom on a regular basis…
Now …in through the nose out through the mouth…repeat
Member Since November 2016 - Comments: 335
5:52 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “steve watt” at “21/11/2016 – 16:05“:
Steve combined income between husband and wife has to be £200K (£100K each) before your personal allowance is impacted if this is what you are referring to?
£100K each in other words.
Member Since January 2016 - Comments: 32
6:04 PM, 21st November 2016, About 9 years ago
Reply to the comment left by “David Price” at “21/11/2016 – 16:19“:
What a wonderful article David – May-be we could send it to the Treasury. As it says – I think we have allowed a higher degree of Stupid People into power-full position.