Summer Budget 2015 – Landlords Reactions

It's crazy. I'm sure if everyone here knew in advance that the government would change the rules of the game half way through, we would have started with a different strategy. It is criminal and corrupt to apply this new regime to existing landlords. It's like a bloody roller coaster, one minute I think common sense will prevail, and the next it's like I'm living in an Orwellian nightmare!

I watched the Tory Conference today and I think I have seen where ths govt is going
We all think that because we are Landlords the Tories would back us
I think this govt is stealing Labours Clothes a lot of policy's are Labour Policy's
so this will knock Labour from taking power again for a long time
we have been hood winked into thinking the Tories would benefit us and our business
we all think we are Capitalists but in the eyes of the Tories we are not we are little men and women who have grown above our station
Mrs Thatcher was different she did stand for the small Business man and women although I personally had little time for her
so where am I leading I think this Govt wants only to help there on class the super rich
where there wealth runs into Millions and live very different lives to the Landlords on this web site
We have been taken in by the old rules we thought we were doing the right thing and yes we wanted to join the super rich too
every seminar I attend sold the BTL dream on money making and giving you a taste of what money can bring
The new tax system is clever and popular with the anti Brigade w have no friends
The reason is the LTD Co route is left open for the super rich and Landlords with deep pockets who can put in a lot of cash and only pay 18% Corporation Tax
wee have been sold a pup here and a lot of landlords will suffer from the work of the rich boys in the Tory party
Its smoke and mirrors they are as clever as Paul Daniels
What happens next is anyone's guess
The every day working man will get tax cuts but the biggest tax cuts will be the super rich 18% from profits on a Co cant be a bad deal
We are the rich poor if you can understand my meaning nd if we go out of business the Tory Party will be very happy indeed The southern middle class Landlords will be the worsted hit in my opinion
The south has huge property prices yes some would have made a very good capita growth but the south will pay a lot of CGT so who wins the govt they are a new breed of politician but I think they are the worsted they wrap up policy's because of the nations debt but they are using the debt a a big leaver to change society of today we are going back pre world war one where the rich will have 85% of the wealth of the UK I hope I a wrong

Reply to the comment left by "Mark Shine" at "05/10/2015 - 19:09":

Heres the link Mark
http://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN07094

The small landlords are in the way of attracting the large investors who they want to takeover the PRS. But shareholders always want more money so rents will rise. Maybe they want us to put rents up so they are much higher so a better return to encourage the big boys.

The summer budget proposals may well have been lifted directly from the from the Green Party manifesto (which was, at least, more honest in explaining it)

Page 42, bullet 3

"Make ‘buy to let’ less attractive, so reducing pressure on house prices, by removing tax incentives, including the deduction of mortgage interest as an expense, and reforming the ‘wear and tear’ allowance. "

https://www.greenparty.org.uk/assets/files/manifesto/Green_Party_2015_General_Election_Manifesto_Searchable.pdf

Reply to the comment left by "Dislexic Landlord" at "05/10/2015 - 19:49":

Yes I do agree they want to keep the masses down.
We are like a modern day victorian age, many people are one step from the workhouse.

If people hold on to the properties then in x years they will move up the chain, and that is not acceptable to them .

If no one is at the bottom who will pay the taxes for them to live the life they do.

Reply to the comment left by "KATHY MILLER" at "05/10/2015 - 20:01":

We are going to see the biggest transfer in wealth in over 100 years
Trade Unions are being ruined in Local Govt Civil Service and the NHS this is the last hurdle the govt has
I always thought I was a Tory but Im an old to tory where I thought Effort was rewarded this is not the case today
I had lunch with a friend who owns a small business he too hasn't a clue on how he is going to meet the new Living Wage
again this will hit the small employer so we are not the only ones who have issues with new govt

Reply to the comment left by "Mark Shine" at "05/10/2015 - 19:09":

Hi Mark - just copy/paste in to your address bar file:///C:/Users/Laura/Downloads/SN07094.pdf

This community has come together as a result of this insane policy proposal and we need to maintain momentum even if this goes through later this month. Between us we can come up with a strategy, whether that be a tax strategy or political strategy to defeat this attack on our livelihoods. We need to keep sharing information - where there is a will there is a way. There is a solution.

Solution sell up what u can keep running your business collect. Ur rents and wen it becomes impossible chuck em th keys

Reply to the comment left by "Manchester Landlord" at "05/10/2015 - 20:17":

Yes, Manchester Landlord. I agree with you 100%. Stay away from the defeatism! It's toxic.