Summer Budget 2015 – Landlords Reactions

Summer Budget 2015 – Landlords Reactions

14:00 PM, 8th July 2015, About 10 years ago 9619

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Budget 2015 - Landlords Reactions

The concern is;

Budget proposals to “restrict finance cost relief to individual landlords”Summer Budget 2015 - Landlords Reactions

To calculate the impact of this policy on your personal finances download this software


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Mark Alexander - Founder of Property118

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17:21 PM, 14th August 2015, About 9 years ago

Reply to the comment left by "Ian Simpson" at "14/08/2015 - 15:46":

Don't do it, your IP address will soon be blacklisted for spamming and most of the emails will not get through.
.

John McKay

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17:28 PM, 14th August 2015, About 9 years ago

It seems there is one site that is generating all the negative stuff on SNTG

http://markwadsworth.blogspot.co.uk/2015/08/say-yes-to-george.html?showComment=1439568791331#comment-c1618821408817946062

Anybody want to comment on it?

Mark Alexander - Founder of Property118

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17:30 PM, 14th August 2015, About 9 years ago

Reply to the comment left by "Ros ." at "14/08/2015 - 17:04":

Your capital gains get added to your income to determine your tax band. In other words, it is more likely than not that you will pay 28% CGT, especially if you sell multiple properties.

I do not recommend you to waste money, i.e. reducing rents or increasing expenditure. You will be giving away 100% of anything you waste to save yourself somewhere between 10% and 45% of what you waste.
.

Shakeel Ahmad

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17:39 PM, 14th August 2015, About 9 years ago

@Ros,

The CGT band rate is suppose to work on your income, this is miss leading.

For calculation of CGT, the gain is added to your income and if the total of the two exceeds the higher band you pay higher tax.

E.g: Income £20k gain £12. Total £32. You pay 18%
Income £35k gain £20 Total £ 55. You pay 28%./

I am sure about the above but will be happy to be corrected.

Please don't shoot me.

Connie Cheuk

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17:56 PM, 14th August 2015, About 9 years ago

Reply to the comment left by "shakeel ahmad" at "14/08/2015 - 17:39":

Does this include the CGT allowance?

Charmaine ******

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17:58 PM, 14th August 2015, About 9 years ago

Reply to the comment left by "Ros ." at "14/08/2015 - 08:07":

Ross, I have written to Michael Fallon and have an appointment to see him on 5th September

Shakeel Ahmad

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18:01 PM, 14th August 2015, About 9 years ago

Sorry, it should be read as " total of the two exceeds the lower band"

The gain above is after the CGT allowance e,g above gain £23k less CGT allowance of £11k, taxable gain £ 12k

Dr Rosalind Beck

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18:35 PM, 14th August 2015, About 9 years ago

Reply to the comment left by "Charmaine ******" at "14/08/2015 - 17:58":

Thanks for letting me know Charmaine.
Mark: I was hoping the CGT didn't get added to the income to determine the tax band. It shows how green I am. The whole thing is so bloody complicated, ridiculous and unfair. That's why we have to get it overturned!

Mark Alexander - Founder of Property118

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18:52 PM, 14th August 2015, About 9 years ago

Reply to the comment left by "Ros ." at "14/08/2015 - 18:35":

Wasn't HMRC's TV advertising slogan "Tax needn't be taxing"?

Maybe you should put in a complaint to the Advertising Standards Commission? LOL
.

ray selley

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20:12 PM, 14th August 2015, About 9 years ago

I think we need shock tactics to get the message to every body concerned including tenants landlords letting agents etc etc.If just 10000 members [or nonmembers] contribute say£100 each to a fund we could raise enough money to take full page adds in all the national newspapers warning of the the forth coming doom.Any members out there in advertising and marketing and fund raising?

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