Calling for a new tax regime that includes incentives

We can hope the government actually listens to these common sense proposals and wakes up to the damage George Osbourne's policies are now causing with higher required rents for landlords to sustain their businesses, plus in turn less choice in rental stock for tenants.

Reply to the comment left by Coastal at 01/04/2019 - 13:11
I wouldn't holding my breath on that happening. Governments (of any persuasion) will not proactively do anything unless it is vot winning or raises revenue (without jeopardising votes). Helping Landlords directly is not a vote winner - bashing small Landlords though does help their big corporate BTR friends aka big Tory donors, like L&G; and it keeps the likes of Shelter, Generation Rent, et al. off their backs.

The Government will only do something when matters reach crisis point, then they'll launch a consultation into the causes, and then eventually pass Laws to help the situation (assuming they got it right of course).S.24 hasn't fully kicked in yet, and its effects are only just starting to be felt. So we are 1-2 years from the effects reaching its peak, 1-2 years for the Government to realise there's a problem, 1-2 years for consultation, and 1 year for changes in legislation. As I say don't hold your breath.

Seriously, if anyone thinks the Gov't are going to move away from high earning tax streams such as CGT, Stamp Duty or Section 24, then I feel they are somewhat disillusioned! The doubt associated with the UK's future alone, will ensure that these cash-cow taxes remain for some time yet. If the Gov't won't increase funding to the NHS or Police, despite the obvious need - then what chance do landlords stand!?

From Fergus:

"We have passed Crisis Point

However, the point is well made. Action this day!

Most tenants I speak to are more concerned with a Roof Over Their Heads than Brexit!"

Reply to the comment left by Neil Patterson at 01/04/2019 - 15:59
We might be passed the crisis point but it going to get a lot worse yet.
The super-tanker is accelerating still fuelled by new Government policies and the Government can't/won't see the iceberg ahead, let alone put the engines into reverse.

Mr Hammond may well be currently basking in the credit of high tax receipts, along with supporting first time buyers with ex rental properties - sold by landlords exiting the business. However, the super-tanker may well hit the iceberg before it can accelerate much more, which is the cost of housing those on benefits. In my area, there are many HB tenants being evicted to enable the sales of their property (to sell to the first time buyers) and or due to arrears caused by tenants being unable to afford to top up their benefit housing caps, which have not increased for years. Our local Council currently have a massive problem in trying to rehouse families, with many going into B&B's and or local Hotels at huge cost! Councils are also offering large cash incentive payments to landlords in order to provide accommodation. Whats urgently needed is some joined up thinking between Government, local Councils and reality.

Reply to the comment left by Coastal at 01/04/2019 - 16:43
You've hit the nail on the head. It's Local Councils bearing the cost not central Government who pockets the CGT, s.24 tax, 3% SDLT surcharge, etc.

An clear and sensible set of demands. Only one "but"...

"Man landed on the moon in 1969! It is not beyond the wit of man to dream up an acceptable mechanism for resolving the problem of Domestic Abuse!"

Landing on the moon is a piece of cake compared to ending domestic abuse. This sort of comment, particularly in light of Fergus Wilson''s ban on battered women, will come across as insensitive.