Election dilemma: the devil you know or don’t?

Election dilemma: the devil you know or don’t?

by Readers Question

Guest Author

9:35 AM, 10th June 2024, About 3 weeks ago 30

Text Size

This election, is it the devil you know better or worse than the devil you don’t?

Not having made law, the Renters Reform Bill, appallingly drafted and ill thought out, can be either quietly dropped or reworked to work with and not against/to crucify landlords if the Conservatives retain power.

Labour has said that Section 21 will be abolished and Section 8 Ground 1 (possession to sell or for the landlord or their family to live in) will be subject to a court hardship test, determining who will suffer more if possession is granted.

While Labour promises not to raise income tax or national inusrance contributions, they are likely to increase CGT and reduce allowances from £3,000 to £0. Labour could also introduce landlord fee based registers and further PRS regulations.

As in the last election, it’s got to be tactical voting to keep OUT who you don’t want, NOT voting in who you do.

Voting for Reform could let Labour in who are more anti PRS landlords than either the Conservatives or Lib Dems.

The PRS is a profession and should be treated as such by politicians AND landlords. It’s not a game, no one is an unintentional landlord as everyone one of us has made the decision to be one and should know from the outset the PRS legislation and regulations governing our profession.

It is not a profession to be learnt by mistakes. Doing the homework before entering this profession is even more important now than ever before.

If ALL the eligible people don’t vote then we could find we are governed by a Party who doesn’t have support of the majority of the people. So VOTE, even if you put a cross by every name on the ballot paper, people died to give you your right to vote.

Thanks for reading,

Judith


Share This Article


Comments

DPT

17:15 PM, 10th June 2024, About 3 weeks ago

Reply to the comment left by Beaver at 10/06/2024 - 10:22
S8 ground 1 does not currently include an option for when the landlord wants to sell and Labour would appear to have no plans to introduce one.

LaLo

17:30 PM, 10th June 2024, About 3 weeks ago

If Landlords sell up then some nice juicy capital gains tax will need to be paid - lovely!

PH

18:46 PM, 10th June 2024, About 3 weeks ago

Reply to the comment left by Beaver at 10/06/2024 - 10:22
I'll be selling too. Like a judge is going to give possession back to me knowing I'll be pocketing 1000's to sell up and another tenant will have to find somewhere else to live and probably pay more for it. Unless this gets kicked out of the manifesto I'll be selling up asap.

PH

19:25 PM, 10th June 2024, About 3 weeks ago

Reply to the comment left by Beaver at 10/06/2024 - 14:20
Absolutely 💯% agree Beaver. Whatever else is happening my main concern is my house that I own outright that is currently tenanted by a very nice person. If any government/judge seriously thinks that they will determine whether or not I sell my house determined by who will be worse off are totally dissallutioned and on another planet. I will not pay for decades of a lack of new houses . I invested in property it's just a shame that governments didn't.

PH

19:30 PM, 10th June 2024, About 3 weeks ago

Reply to the comment left by DPT at 10/06/2024 - 17:15
Since when ? I only read it last week.

Beaver

9:31 AM, 11th June 2024, About 3 weeks ago

Reply to the comment left by DPT at 10/06/2024 - 17:15
What the post that started this thread says is:

"Labour has said that Section 21 will be abolished and Section 8 Ground 1 (possession to sell or for the landlord or their family to live in) will be subject to a court hardship test, determining who will suffer more if possession is granted."

So if that's wrong and there is no provision for you to be able to sell when you need to that's all the more reason why voting labour just isn't an option.

PH

10:20 AM, 11th June 2024, About 3 weeks ago

Manifesto out this week so hopefully it will all become clear....FOR SALE signs at the ready !

Carchester

9:31 AM, 15th June 2024, About 2 weeks ago

As Beaver above stated ---- Just like the effects of perverse judgments meted out by woke like judges in divorce matters- hammer the innocent and support the guilty.
Carchester

Carchester

9:39 AM, 15th June 2024, About 2 weeks ago

Reply to the comment left by Beaver at 10/06/2024 - 14:20
Heard that a deal was done with HMRC regarding sale of council house.

Deal completed - no criminal action to follow.

Carchester

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now