Treasury response to Section 24 report by Dr Rosalind Beck

Treasury response to Section 24 report by Dr Rosalind Beck

15:34 PM, 17th November 2016, About 5 years ago 138

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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.”HM Treasury

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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by James Fraser

22:46 PM, 17th November 2016, About 5 years ago

Somebody - or all of us with this letter - needs to send a very direct response back:

1. Why does the treasury insist on saying rents won't rise when we ARE putting our rents up?

2. Given that the govt wants us to sell our houses, where do they expect the evicted families to go?

3. What impact assessment have they done on numbers of evictions and what provision are they making for housing these families?

4. Why are these letters claiming that 1 in 5 are 'affected', whilst also claiming that the 400,000 landlords this represents does not equate to millions of tenants? What evidence do they have to support this?

5. Why are 40% taxpayers with a mortgage 'wealthy' and expected to cover up to (and over) 100% tax rates when the super-rich multi-millionaire cash buyers are acceptable and can keep their 40/45% tax rate? That's not a very level playing field!

6. How come the treasury doesn't understand Schedule B taxation and keeps misrepresenting it? Shameful.

I could go on!

by Dr Rosalind Beck

23:12 PM, 17th November 2016, About 5 years ago

Reply to the comment left by "James Fraser" at "17/11/2016 - 22:46":

Yes, Jamie. We can all send letters and keep the pressure up. I am also aiming to refer the writer of the letter to this thread, so that she can get an idea of how strongly we feel about this and can see how we are not swallowing the lies emanating from the Treasury and how we in fact see straight through them.

by Gary Nock

23:13 PM, 17th November 2016, About 5 years ago

Well looks like we're on our own then ladies and gents.

Note to Madam Theresa have just lost 2 million votes....enjoy...

by John Mcgowan

0:25 AM, 18th November 2016, About 5 years ago

The treasury writes mistruths and lies about the effects their tax scam will have on landlords and tenants. They are led by the lying and misguided politicians in the government who back this piece of junk tax which was repealed in Ireland. I really believe that most politicians are not intelligent enough to understand it and so go along with the lies and brainwashing.

by NW Landlord

8:14 AM, 18th November 2016, About 5 years ago

They are beyond belief the bilge they spout unfortunately it's going to take some real life casualties to make them see sense I have no hope of any teaks next week incorporation for me thanks a lot of hard work to carry on what I am doing NEVER VOTING TORY AGAIN

by Richard Mann

8:29 AM, 18th November 2016, About 5 years ago

As Usual Dr.Rosalind Black puts forward an intelligent and well thought out important summary of the relevant issues.
As usual the individuals responding repeat the government line while never acknowledging the potential knock on effect of a single point raised.
It's always defensive never emphatic or caring and the responses never accept the pain and hardship that will be forced upon ordinary poor and working class individuals.

I personally find it almost impossible to look at any M.P. or listen to any statement being made without the echoes of their virtually vitriolic responses coming back at me. How or why on earth could I trust or rely or even consider anything being said by any M.P. when I know that the subtext or the real opinion behind each uttering is apparent contempt?
How could any clear thinking individual not see that section 24 will potentially destroy the lives of thousands of individuals, cause hardship and pain, break up families, ruin people financially and force poor and working class people onto the street?
Why do they keep spouting "only 1 in 5" are these individuals Morons ? Do they not possess a pencil and a piece of paper? Can they make the simplest of calculations to see that the numbers run to potentially millions very quickly.
Besides the pain and hardship that will be caused, do these government individuals not consider that applying a tax retrospectively in this manner to only one sector of business is immoral and loathsome? Penalising and robbing someone for decisions made many years before?
Is it not obscene to to just focus on the goal of more tax more tax more tax and then chant the justification of budget deficit budget deficit !
Well listen up !!! We the individuals running our community serving Lettings businesses did not create the Budget deficit !! Have you got that? It's not our debt it's not our debt it's not our debt.
Do not force people onto the streets or into bankruptcy and tell us it's fair ok ! Stop telling us "it's only 1 in 5" ok !
You expect us to bail out a bankrupt bank and then tax us to pay off the "Budget deficit"
Your actions are penny pinching inconsiderate and completely unjustifiable ok?
It is not our Debt. It is not the taxpayers duty to bail out failed or badly run business.
Why create an environment of potential bankruptcy for our business area and then justify taxpayer payments for failed banks?
We do not want this our tenants do not want this our suppliers do not want this and anyone with the remotest amount of common sense can see this punitive change as an assault on ordinary working people.
Do not tell us the effects are nominal do not " level the playing fields" we do not need you dreaming up schemes on how you can justify robbing people by your complicit actions.
Why instead don't you look at the banks that support your ideals and see if there is some more money to screw out them and leave our business alone.
It's not our debt.
We pay our taxes.
Leave us alone ok !

by NW Landlord

8:33 AM, 18th November 2016, About 5 years ago

Also the comparisons with corporates is an outright lie they get taxed at 20% after deducting there finance costs fully I cannot believe they can get away with these lies this is going to hurt so many people it's madness

by Steve Wood

8:55 AM, 18th November 2016, About 5 years ago

The. BBC news news yesterday reported a family who was forced into temporary accommodation as their landlord was selling up. They paid their rent, we're not in arrears and are now in poor spaced temporary accommodation awaiting housing. This is surely the tip of the iceberg. Does anyone at the treasury / government have any understanding of the effect this tax change will have for the UK other than landlords? Surely the housing minister should grasp this?

by Richard Mann

9:08 AM, 18th November 2016, About 5 years ago

Reply to the comment left by "Steve Wood" at "18/11/2016 - 08:55":

If a single person suffers this humiliation because of Tory party manipulators then it is obscene and disgusting. Gideon Osbourne shame on you for pushing this forward. Shame on you for forcing people onto the streets and shame on you for forcing bankruptcy onto many individuals in one specific business sector.

by NW Landlord

9:11 AM, 18th November 2016, About 5 years ago

They are hell bent on ignoring all reason and expert advice its up to us to sort our ships out as best we can larger family homes in my portfolio are going and I am focusing on my smaller lower end Stock that is getting incorporated and I am buying all future deals in limited company the game has changed u have to change with it

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