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

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Kathy Evans

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22:34 PM, 1st February 2016, About 9 years ago

Reply to the comment left by "Chris Byways" at "01/02/2016 - 21:52":

It's very sad to see how bad they are at arithmetic and don't seem to understand sales-costs = profit and tax should be on profit regardless of business type - is doesn't really matter what the %age is as it is applied AFTER the profit calculation. I wonder how they'd feel if HMRC taxed their sales at 45% and then deducted 20 % of their costs (including wages) from the tax bill? No point telling them, of course.

Dr Rosalind Beck

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12:41 PM, 3rd February 2016, About 9 years ago

Look at this everyone:

https://www.politicshome.com/economy-and-work/articles/story/george-osborne-condemns-calls-corporation-tax-reform

But the Chancellor condemned the idea, arguing companies would be hit with high tax bills regardless of their profits.

“Before we rush to some other solution, I would try and make corporation tax work. I’ve heard lots of proposals about getting rid of corporation tax altogether, creating a turnover tax,” Mr Osborne said.

“I would enter this note of caution: that means a business that has made no money in a particular year, maybe in a recession or a company that has lost a big order, being hit with a tax bill.”

We should be able to nail him on this alone.

Has anyone seen hypocrisy greater than this?

Mark Alexander - Founder of Property118

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13:15 PM, 3rd February 2016, About 9 years ago

Until today I hadn't realised that BT have their own News feed. However, to my pleasure, the first I knew of it was when I read their article entitled "Cherie Blair: changes to taxes on landlords breach human rights"

Here's a link which I've shared on Facebook >>> http://home.bt.com/lifestyle/money/mortgages-bills/cherie-blair-changes-to-taxes-on-landlords-breach-human-rights-11364037789992

It's another superb article 🙂
.

TheMaluka

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13:29 PM, 3rd February 2016, About 9 years ago

Reply to the comment left by "Mark Alexander" at "03/02/2016 - 13:15":

The comments are interesting as they are anti the Blairs but make no reference to Clause 24, the subject of the article.

Sam B

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13:38 PM, 3rd February 2016, About 9 years ago

Reply to the comment left by "Ros ." at "03/02/2016 - 12:41":

But we all know b2l is not a buisiness get with the the times! Its like shares I mean we all know if you want to sell shares you have to do a section 21 and wait for that process. Then if you want to keep shares you have to get a epc/gas etc etc.

I am kidding of course but it never ceases to make me laugh how some people say it is like shares.

r d

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14:30 PM, 3rd February 2016, About 9 years ago

Hi All,

Anyone else feel completely shell shocked, demoralised, dejected etc etc about Clause 24? I'm seriously confused as to the direction of my life. This may sound melodramatic but I have been Investing (growing), refurbishing, managing my buy-to-let business for 12 years. I started investing in properties with a very low base whilst working in the private sector. I saved like crazy and grew the business organically. I lived with my parents until I was 30! I left my (secure) job creating huge uncertainty in my life to pursue my dream of creating a successful profitable business and I am very proud of what I have created. The government (I voted for) are now trying take this away from me.

(not to mention the many many young professional tenants that will I will have to evict when/if I sell)

I'm completely lost as to what to do? I planned to buy a few properties this year. That's stopped. In fact I'm selling a few but the point is, I have no direction. No vision. No career (apart from managing the portfolio I have) Due to the huge uncertainty I've lost confidence in the market. Therefore I'm not growing / progressing the business.

I'm researching new business ideas but property is all I know.

I'm going to fight this Tax Grab and am looking forward to donating a large sum in the next round of funding (I missed the last round) but I'm at a loss for now.

Anyone else feel this way?

Bill Morgan

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14:37 PM, 3rd February 2016, About 9 years ago

switch to short term letting via airbnb. Its taxed differently and you can make more money.

Gareth Wilson

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14:43 PM, 3rd February 2016, About 9 years ago

Reply to the comment left by "r d" at "03/02/2016 - 14:30":

Like yourself my plans property-wise have been put on hold... But I don't feel dejected or demoralised. I am an optimist and believe in time we will prevail.

TheMaluka

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14:52 PM, 3rd February 2016, About 9 years ago

Reply to the comment left by "r d" at "03/02/2016 - 14:30":

Yes.

I think we all feel this way which is why the C24 challenge took only 7 days to raise £50k.

Not only must we challenge C24 but Osborne MUST go before the economy is wrecked. I have never seen such an incompetent chancellor.

Come back Guy Fawkes, all is forgiven.

NW Landlord

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14:59 PM, 3rd February 2016, About 9 years ago

Hi RD

Your post could have been written by me as that is exactly the same story as mine

I feel angry etc but there will be a way out of this either by the judicial review or rearranging your structure stick with the forum and stick together as landlords / property developers and we will beat this I have no doubt.

What alarms me is how incompetent the man running our economy is that he even let this get so far it defies believe to be honest

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