Treat Landlords more like Farmers?

The whole UK tax system needs major reform. All these budgets ever do it just move thresholds around creating winners and losers across multiple sectors year on year. The UK really needs to look at itself as a county and decide what it really wants to become, then structure an effective tax system around those goals. Now would have been the best time to have done so but we just simply don’t have (and likely will never have) the right political party.

Actually this is a good point, when i croak it my kids will have to sell one or two properties to pay the IHT bill.

I was thinking the exact same thing, all we get is penalised year after year 🙁

The government needs a 1 year amnesty on CGT and stamp duty. To allow everyone to reposition their assets. These taxes lock people into owning assets they wish were in someone else's hands. This causes a lot of deadloss for the economy.

Being able to transfer these assets without these taxes would solve some of the IHT problem.
IHT is completely unnecessary, new Zealand doesn't have it and doesn't miss it.

Helen: I've had the same thoughts. After all landlords run an essential business like farmers, but no one has suggested we can leave on death our properties tax free to our inheritors. While I have some sympathy with the
farmers, I'm not totally with them, because of my situation. My inheritors will have to sell a considerable amount. If you try and solve this situation you are caught every way around.  

The next thing they will take off of us, especially landlords, will be the 7 year gift provision.
I'm actually really surprised they haven't done so.

Reply to the comment left by Adele Gibbons at 26/11/2024 - 14:20They can only do that if it applies to everyone, there was talk of changing it to 10 years but I think 7 years is set in stone.

Reeves has already stated she will not come back for more tax and if she did it would be a Truss moment and everything would collapse

Reply to the comment left by Downsize Government at 26/11/2024 - 10:34
I agree about being stuck in assets you don't want and not being able to adjust, which is silly. I bought quite a few of my houses when I was a boy ( ie early to mid 20s). At that point I hadn't got married or had children and I viewed houses very differently to the way I do now as a family man. However, I am pretty much stuck with what I have, because to change even one single £650k house to an identical value one that would work better for letting would cost around £175k in CGT and stamp. Basically way too much.
If stamp worked more like VAT and if rollover relief was available I would be very proactive in selling and buying with all the other boosts to the economy this would then create. Instead I plod on, gradually exiting, whilst trying to work out what to do to minimise IHT one day.

Reply to the comment left by JamesB at 26/11/2024 - 17:55Take out as much mortgage as you can at least 7 years before death, and give the capital thus raised to your descendants.
They will then only have to pay IHT on the equity that is left as CGT is nullified by death.

I think anyone who believes that they won't come back for more tax next year or any of their other promises is fooling themselves.
Apart from the national insurance one, the rest are avoidable to some extent as such they will only raise a fraction of the amount that they were dreaming of.
PS if anyone believes that the landlord cost from the RRB will be the quoted 12 pounds, I have some magic beans available at unbelievable prices.