Unjust new landlord tax

[vetran]

It did actually - the actual Dublin rent figures showed that rental prices dropped as the tax was introduced. If I could be arsed I would link to the actual report not the inaccurate figures you quote which are a hotchpotch of stuff from the 90's and 2009 to justify the invalid argument

Given the inaccurate information on this thread I'll keep out of it but bp is correct no tax relief should be allowed on rental property investment to ensure a fair market

unless of course you are a company or abroad...

[BrilloPad]

Given the inaccurate information on this thread I'll keep out of it but bp is correct no tax relief should be allowed on rental property investment to ensure a fair market

Not that one should confuse what one wants to happen with what will happen....

[d000hg]

Don't want more houses. Too many already.

Don't they have extra council tax on empty houses in the SE to discourage people leaving them empty?

[eek]

Actually here's a question for any landlords here.

Who wasn't aware of these forthcoming S24 changes, they are from the July 2015 budget so its hardly new news?

[eek]

unless of course you are a company or abroad...

only a company.

Abroad is covered by a new set tax laws of that have come in over the last few years - the tenant is responsible for the tax and is expected to withhold the taxable part of any rental payment - I mention that for the sheer WTF....

[barrydidit]

Actually here's a question for any landlords here.

Who wasn't aware of these forthcoming S24 changes, they are from the July 2015 budget so its hardly new news?

Lol exactly. It's just part of the Telegraph's ongoing campaign against the policy.

[vetran]

It did actually - the actual Dublin rent figures showed that rental prices dropped as the tax was introduced. If I could be arsed I would link to the actual report not the inaccurate figures you quote which are a hotchpotch of stuff from the 90's and 2009 to justify the invalid argument

Given the inaccurate information on this thread I'll keep out of it but bp is correct no tax relief should be allowed on rental property investment to ensure a fair market

It may drop but without private landlords rental stock will change probably not for the better.

[d000hg]

Actually here's a question for any landlords here.

Who wasn't aware of these forthcoming S24 changes, they are from the July 2015 budget so its hardly new news?

I bet loads aren't, or at least not the fine details. If you already own BTLs you are unlikely to sell just because of this if you are making a decent return.

I'm an accidental BTL landlord so it doesn't make much difference to me - and my mortgage interest is currently £43pcm IIRC.

[GB9]

It's not rental property that's owned that is affected. It's BTL scum buying up property with borrowed money; something that's only viable because they get a gift from The Treasury that isn't available to other buyers.

At least it levels the playing field in the property market, which is a step in the right direction. It's fine talking about building new houses but it'll be the same BTLers that snap up the new houses, so nothing will change.

Exactly this.

Ironically, when Labour came to power in 1997 there were only c28,000 btl mortgages. By the time they were kicked out in 2010 there were over 1m. One of the ways in which Labour bought the middle class.

The vast majority of these were taken out by single property investors. They didn't think they were running a business, just borrowing, renting and making other people and the state pay. If they have to pay the true cost of borrowing to invest as you would with shares etc. then it will sort those who genuinely want to be businesses from private investors wanting easy money.

[VectraMan]

Those BTL scum are housing people who can't get mortgages. If they all went out of business tomorrow someone from china would buy their BTL & leave it empty.

Now if you blame them for the rise in house prices you are wrong, that is down to too little house building & too many people.

If you want to put BTLers out of business build more houses have fewer people seemples.

More demand for houses means higher prices. It doesn't matter if they're new people or investors, it's still more demand, and the people who can't get mortgages would be better able to get mortgages if BTLscum hadn't helped drive up prices. Which in turn would mean less requirement for rental properties.

I know you want to make this about immigration, and there's no doubt it's a factor in overall house prices, but this is really about the distribution of the wealth that there is. The current setup favours middle class investors over people who just want somewhere to live and I don't think you have to be a rabid loony left Corbynesque communist to think that's a bad idea.