Summer Budget 2015 – Landlords Reactions

Ros and all, it is very important that we all submit our views to the Lords - as the anti private/non incorporated Landlord campaign group will submit their views.
Today, a Sunday Times journalist (David Smith) said he was putting in a submission and inviting people to make submissions via him!!

Reply to the comment left by "kathleen drea" at "08/11/2015 - 16:46":

Hi Kathleen.
Do you have a link to the article - or better still could you copy the relevant paragraph or sentences here (if that's allowed)? He sounds like someone we should be talking to. I'll definitely be putting in submissions. I am also working on a letter this evening for all the Lords as the Second Reading of C24 is on Tuesday.

Reply to the comment left by "Ros ." at "08/11/2015 - 20:03":

Ros, the article is in the "Home section" of the Sunday Times - written by David Smith. It states "It is not often that you get a chance to influence a parliamentary inquiry, but I am glad to offer such an opportunity today. No, this is not one of those cash-for-influence stories you read in this newspaper, but entirely above board. The House of Lords economic affairs committee is carrying out an investigation into what is wrong with Britains housing market and it wants lots of views".
It goes on to state -the committees chairman Lord Hollick "would like to hear from people with first-hand experience, particularly those who are struggling with the cost of housing". You can send evidence to the committee via parliament.uk- or, if you would prefer, via me.
david.smith@sunday-times.co.uk

Reply to the comment left by "kathleen drea" at "08/11/2015 - 20:30":

Thanks Kathleen for clarifying. I wonder what he will be writing. It might be nothing to do with Clause 24 and/or it might be in support of it...

Reply to the comment left by "Ros ." at "08/11/2015 - 20:57":

Ros it depends if he is on the landlord side or not I think we should all get our own view in

This article in the Daily Telegraph by Teresa Hunter highlights the absurdity of the tax system . With multiple tax reliefs, denied to BTL Landlords, for non essential holiday accommodation.
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11979388/Why-holiday-homes-will-be-the-next-buy-to-let-boom.html

I will be forwarding this to my MP.

Reply to the comment left by "Barry Fitzpatrick" at "09/11/2015 - 06:23":

Yes, Barry it's all farcical - to allow the offsetting of costs on non-essential accommodation, but to disallow it for essential housing in the middle of a housing shortage... It makes no sense whatsoever. It's saying that holidays for people with spare cash are more important than housing for families on low incomes, amongst others.
And the guy in the article who says he can't see the 'relief' being withdrawn from holiday lets is talking sh*te. Of course it could be - it would be LEVELING THE PLAYING FIELD. And the Government can use this exact same argument - that it is non-essential etc. and that it creates unfair competition for the hotel sector. This kind of argument has been prevalent in Spain for years where they are trying to get rid of private holiday rentals in favour of the powerful hotel lobby.
Imagine people now rushing to buy and/or build holiday lets and then in a couple of years that gets pulled out of the hat. Also the market could become flooded, so these very happy holiday let owners might be coming a cropper soon, from various directions.
Personally, I have had holiday lets and I don't like doing them. Holiday-makers can be very demanding - they want each holiday to be better than any previous one and send them up into spirals of joy and delight. They seem to blame you as the owner if it rains!

Hi,

I have just read the Manuscript of the Clause 24 - committe debate held on the 24th October 2015. I noticed that the government have made some amendments i.e:-

"The Government have tabled five amendments to the clause. Amendment 22 ensures that all companies are excluded from the restriction, even when carrying on a property business in partnership"

My initial understanding was that Partnerships would come under the new "No tax relief" rules but this seems to imply that they are excluded?

Anybody now if this is just a typo?

The full document is on the NLA website.

Jarrod Oliver

Reply to the comment left by "Jarrod Oliver" at "09/11/2015 - 12:04":

Please provide a link to the document you are referring to.
.

Reply to the comment left by "Jarrod Oliver" at "09/11/2015 - 12:04":

http://www.landlords.org.uk/node/15706

The manuscript is the download document at the bottom of the page.