Summer Budget 2015 – Landlords Reactions

Reply to the comment left by "KATHY MILLER" at "15/09/2015 - 18:59":

No rent rises on any of my properties since 2007 either.

Now this is big news courtesy of our friends at Angels media ...

"Zoopla chief backs campaign against buy to let tax changes"

Link >>> https://www.lettingagenttoday.co.uk/breaking-news/2015/9/zoopla-chief-joins-campaign-against-buy-to-let-tax-changes
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Reply to the comment left by "Mark Shine" at "15/09/2015 - 17:13":

Mark I have always held half my properties in my own name and half in a company. I was advised to hedge my bets because you never know which is going to be the best from the tax perspective. I purchased property to provide an income in my retirement not for the capital gain and have held most of my properties for at least 20 years. I am content with a small return but, notwithstanding that I am not affected, I am incensed by GO's attack on landlords.
I also suspect that the next move will be to disallow interest on a wider range of companies.
Again for the record although I speak about my property, for reasons of my age, it is now all held by my children.

Reply to the comment left by "Mark Alexander" at "15/09/2015 - 19:17":

I think some of us need to write to him - nicely, of course - and put him right on some of his terminology - 'tax breaks' etc., but at the same time give him some resources - refer him to articles etc. and also try and get him to circulate the petition. I don't mind giving it a shot, and it will be good if others do too. Also, if he has friends in high places that would be useful.

Reply to the comment left by "David Price" at "15/09/2015 - 19:19":

I also think if GO gets it in it will spell trouble for all businesses and I dont think the remaining 20% will be available for long .

Landlords who think oh well i'm alright need to look at the figures with no interest relief .

I don't believe BTL has any advantages over first time buyers or home owners.

As long as I have been interested in property I was never told I was receiving a tax relief. It was always considered a legitimate deductible cost. Why are we referring to this as a tax relief rather than a removal or a cost which will effect tenants and landlords.

When I hear people speak of rip of landlords. I ask them would any of their family's buy a house for what ever price and allow them to live there for 400 a month. Quite often they say no they would not. So when families won't look after each other it is left to landlords.

Question do home owner s allow people to live in there house .

Do they worry each month if the rent will be played. And they would have to pay more than there own home mortgage. And if the rent was not paid have to spend thousand to get the tenant out who has not paid there rent.

Do they have rights if there possession s in there property are stolen. Yes the police will prosecute who ever took the items for theft. But not if your a landlord the claim it is a civil matter. Until you put in an official compliant them it is theft.

The government make out it is for fairness. Nothing could be further from the truth.

By turning renters against landlords they leave the government alone.

What has caused the problem is low paid jobs zero hours contracts. And the super rich and big business not paying their fair share of tax.

If it was fair then no one should pay more than twenty per cent regardless of income. this would encourage people to succeed.

The amount of new legislation and checks that must be done add additional cost to the landlord. Which will drive up rent.

In today's society people believe they are owed a living a house whether they work for it or not.

I get amazed when people say those on benefits have an easy time the majority do not. Of course they are the ones who abuse it. So they all get tarred with the same brush. Just like landlords.

It does not matter how many houses you build it will never be enough as more and more people will keep coming. As they will be taken by the hand and given everything.

I was thinking the other day would Martin Lewis be interested in this a non existing tax being put on landlords which will effect tenants and landlords. Plus he might get it on TV. The future danger could it collapse the housing market etc

Just a thought regarding the petition, I am a member of greenpeace and they are really really good at getting people to sign petitions.

They use the database and an email goes straight to all members with a link asking them to sign, if you dont sign it comes again.

Very well organised and not linked to any political party. for funding.

Could not something be done similiar with all the landlord databases.

Reply to the comment left by "Neil Robb" at "15/09/2015 - 20:01":

Hi Neil

Yes I think the terrible wages for the lower paid is awful, I also agree that most people do not want to be on benefits. Again government drip feeding via media negative stuff so no-one opposed the cuts.
Which they are doing again with landlords.

Can someone show the growth of wages from 1980 to present day.
In my town there was about 10 factories which provided many jobs for the lowest band. But they could earn double time , time and half and many were on £400 plus in the 1990. Now we have one factory.
Only jobs seem to be shop work , care workers.

One bank holiday I asked the shop assistant that served me in Tesco if he got double time. He said he was on the old contract so did but all new employees had to work now without the double time and time and a half. So for these people I believe they are one step from the workhouse.

People should be able to earn a decent wage .

Reply to the comment left by "KATHY MILLER" at "15/09/2015 - 20:04":

I think thought needs to be given as to why people should still be signing the petition. My understanding is that the tax changes are being discussed in parliament as part of the finance bill and therefore even if it reaches 100,000 it will not be taken forwarded again. If it is to show the number of people against the tax change then fine but perhaps time is better focused in other areas.

I took the bull by the horn and have contacted Martin Lewis website to see if they would be interested in covering this.

Hi I was wondering if you would consider covering the tax changes to landlords which could effect thousands of tenants as well.

Basically the government are saying landlord can no longer deduct the cost of the BTL mortgages as a legitimate cost by 20/21 you will be allowed to deduct 20% of mortgage costs if you have the property in your name only but if your are a ltd company or housing association you can still claim this cost.

What this means is you will be paying tax on non existing profit. So many small property investors could find themselves bankrupt and tenants evicted.

This goes against every part of the tax system which is geared to wards income and profit.

An example of a couple is the have built up a portfolio and turn over £150.000 a year but £100,000 is mortgage payments leaving £25,000 to cover costs and £25,000 profit between them.

So tax due on the £25,000

when these changes take effect there tax liability will be £43,000 which is £18,000 more than they would have made.

So they will have all the responsibility of managing the property then have to find £18,000 pounds more just to break even.

This can only end when tenants are evicted as landlords turn away from property or are declared bankrupt.

The government said it was doing this to be fair to first time buyers. That's cant not be true as most landlords buy house that no first time buyers can or would buy.

I hope you consider this covering this

If you would like to discuss this please contact me on or email .co.uk.

There has been a government petition with over 26,000 signatures so far but a lot of landlords are unaware or have not realised what this means.

Hopefully I have covered it enough to receive a response.