Summer Budget 2015 – Landlords Reactions

Reply to the comment left by "Stewart Jackson" at "11/02/2016 - 08:58":

Indeed Stewart, that was the very article I was referring to on another thread. If Mr Ward doesn't get his act together, I for one will not be renewing my subscription.

I was with our local Councillor Cabinet Member for Housing and
Our Councillor / Deputy Mayor this morning who didn't know what C24 was! They have asked for information which I'll send them. Rather then me re-invent the wheel can those with the best links to articles which tell the storey post them here and I'll pass the best on. Thanks.

That just some it up senior stakeholders haven't a clue

Maybe it would be good to have a standard open letter explaining the affects of clause 24 and send it out to every housing department in each council across the country bog job but between us it could be done within the boroughs we all operate

Reply to the comment left by "Worried by Budget " at "11/02/2016 - 09:46":

As we know, despite the govt spin, C24 directly targets a subset of residential LL (one’s who are both not incorporated and encumbered… and who are already 40% or above tax payers, or will be as a result of C24).

Therefore many residential LLs (the majority), who will not be affected by C24, may actually welcome it for obvious reasons.

Call me cynical, but would be interested to find out what proportion of the membership (and generated income) of RLA & NLA falls into which of the above 2 categories?

Reply to the comment left by "Steve Bolton" at "11/02/2016 - 03:20":

Hi Steve.
I love the fact that they missed the deadline. This should be seen as a negative for their side.

Hi Stewart and anyone else who wants to help, I don't know if you saw this request for information by Chris and Steve and know anyone in this position who could help:

While the legal firm awaits the response from HMRC, they are looking for as much supporting evidence as possible in relation to the following:

1. the financial effect on individual landlords and why this will make their business model non-viable.

2. Any cross border implications. Are you a landlord who buys in both the UK and the Republic of Ireland, or a retired landlord now living in any EU countries who still derive an income from buy-to-lets in UK?

If you are willing to provide any of the information below to support this campaign, please email the campaign manager, Charlie Flake at c.flake(at)platinumpartners.co.uk who will get back to you with more details.

Reply to the comment left by "Rhys Jones" at "10/02/2016 - 23:09":

Hi Rhys

Megan was really nice and obviously knows her stuff with regards to tax. However, the impression I got was that she was powerless to make changes or influence policy and merely follows orders.

She also passed on my concerns, as did the Policy Adviser to The Treasury who attended the same meeting. What really struck me was how young they both were, highly likely to be in Generation Rent rent.
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Reply to the comment left by "Dixie Dean" at "11/02/2016 - 10:00":

In my opinion the best article link are:-

New Landlord Tax Could Affect 4.6 million Tenants http://www.property118.com/new-landlord-tax-could-affect-tenants/83886/

UK rents set to sky-rocket because of Osborne’s tax grab http://www.property118.com/uk-rents-set-sky-rocket-osbornes-tax-grab/83275/

Landlord Tax Grab – source document EXPOSED http://www.property118.com/landlord-tax-grab-source-document-exposed/83110/

A Q&A sheet explaining the problem and the likely unintended consequences associated with George Osborne’s proposals can be downloaded here https://www.property118.com/wp-content/uploads/2015/07/All-you-need-to-know.pdf
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Hi Mark and all. For the record clause 24 will be devastating for me, probably will make me bankrupt unless I do something seriously extreme - like moving abroad. I am 70 and have been a landlord for some years - in property all my life. I have a reasonable sized portfolio and yes fully mortgaged, its how I and others like me have grown our businesses. I am registered disabled, work 12 to 18 hrs a day 7 days a week, and am - in my opinion a good landlord, to the degree that many of my tenants will come to me as their circumstances change asking if I have a bigger property or sometimes a smaller property so I must be doing something right. Unlike the common perception of people not in the know I don't make a fortune, yes I get by quite well but I work dam hard for it. Numerous risks and more legislation all the time does not make the business the easy ride it is often promoted to be. It would not be the right place to air my views on Osborne and his mates, suffice to say that I have never seen such an arrogant and stupid move by any politician - he obviously thinks he is going to step in after 'Dave' moves on - I don't think so, but he does not have to, he will have loads of job offers from the big corporations so what does he care!! Certainly not about the country or the population and certainly not about the ordinary people who put him in power. I shall have to tie a knot in something to remind me never to vote conservative again.

Reply to the comment left by "Douglas Barley" at "11/02/2016 - 11:30":

Hi Douglas

If there is anything I can do to help you to solve your problem I will be pleased to do so.

Take a look at the wonderful testimonial that Laura Delow wrote following a meeting I had with her and her accountant >>> http://www.property118.com/budget-2015-landlords-reactions/76164/comment-page-731/#comment-72420

Also see my reply to Laura, below her comment.
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Thanks Mark. Douglas that's dreadful. Good luck.