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fru-gal

Btl "accidental Landlords", Eu Regulation And The Government?

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A commenter on another forum has a theory that the sudden u-turn by the government in accepting the EU directive that some elements of BTL will have to be regulated (accidental landlords) is a covert way of regulating the whole of the BTL sector because "accidental landlords" is such a vague definition and will need to be applied to the whole sector. He also thinks that the government has come to the conclusion that BTL/landlords are ripe for tax picking as they currently receive £13 billion tax benefit which needs to be curtailed and that they are causing too much market distortion and social problems. The government could do this whilst blaming the EU directive. He thinks the government has it's sights on BTL as their next cash cow to milk.

What do you all think?

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I'm not sure what an accidental Landlord means, anyone punter could turn a regular mortgage into a BTL mortgage and that doesn't mean they're accidental unless of course the fee's are higher than homeownership meaning they are fully aware of their decision.

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A commenter on another forum has a theory that the sudden u-turn by the government in accepting the EU directive that some elements of BTL will have to be regulated (accidental landlords) is a covert way of regulating the whole of the BTL sector because "accidental landlords" is such a vague definition and will need to be applied to the whole sector. He also thinks that the government has come to the conclusion that BTL/landlords are ripe for tax picking as they currently receive £13 billion tax benefit which needs to be curtailed and that they are causing too much market distortion and social problems. The government could do this whilst blaming the EU directive. He thinks the government has it's sights on BTL as their next cash cow to milk.

What do you all think?

Are the government landlords? Will they personally benefit from these changes?

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Are the government landlords? Will they personally benefit from these changes?

Well the more people put off being landlords by having to jump through EU hoops, the less tax breaks thrown at the BTL sector. It's just a theory anyway. It makes sense to target a sector that gets lots of tax breaks which cost the country a lot economically plus landlords and BTL are incredibly unpopular with the wider population so a populist move.

Why do you think the government would suddenly make a u-turn on the directive when it appeared that BTL was safe?

Edited by fru-gal

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HMRC have announced that they are going to target BTL landlords who are not declaring rental income.

http://www.theguardian.com/money/2014/mar/15/landlords-hmrc-undeclared-lettings-income-tax

Proceeds of crime act will allow for these criminals' properties being forfeit. The government could stand to gain a new bunch of houses to use as council houses. If we had a decent government of course.

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Most likely.

There has probably been some Exchequer Whitehall paper going around about it. No politician can say so before an election as they know they would lose. After the election it should be open season on BTLs.

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A commenter on another forum has a theory that the sudden u-turn by the government in accepting the EU directive that some elements of BTL will have to be regulated (accidental landlords) is a covert way of regulating the whole of the BTL sector because "accidental landlords" is such a vague definition and will need to be applied to the whole sector. He also thinks that the government has come to the conclusion that BTL/landlords are ripe for tax picking as they currently receive £13 billion tax benefit which needs to be curtailed and that they are causing too much market distortion and social problems. The government could do this whilst blaming the EU directive. He thinks the government has it's sights on BTL as their next cash cow to milk.

What do you all think?

I actually believe the official line! i.e. they're offering the EU the bare minimum to avoid BTL being fully regulated.

Edited by oldsport

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I actually believe the official line! i.e. they're offering the EU the bare minimum to avoid BTL being fully regulated.

But they said they had saved BTL from being regulated by the EU. The BTL lobby campaigned and won for BTL in the UK to be outside the sphere of influence. So why has there been a u-turn in the small print? I think the government could be using the EU as a scapegoat to push tougher regulations against BTL. Maybe it is the Tory version of Labour's PRS proposals?

Edited by fru-gal

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But they said they had saved BTL from being regulated by the EU. The BTL lobby campaigned and won for BTL in the UK to be outside the sphere of influence. So why has there been a u-turn in the small print? I think the government could be using the EU as a scapegoat to push toughter regulations against BTL. Maybe it is the Tory version of Labour's PRS proposals?

I think they just made a mistake. They then realised that accidental landlords couldn't actually be exempted. I would love it if you are right, though!!

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A commenter on another forum has a theory that the sudden u-turn by the government in accepting the EU directive that some elements of BTL will have to be regulated (accidental landlords) is a covert way of regulating the whole of the BTL sector because "accidental landlords" is such a vague definition and will need to be applied to the whole sector. He also thinks that the government has come to the conclusion that BTL/landlords are ripe for tax picking as they currently receive £13 billion tax benefit which needs to be curtailed and that they are causing too much market distortion and social problems. The government could do this whilst blaming the EU directive. He thinks the government has it's sights on BTL as their next cash cow to milk.

What do you all think?

the only place to get money is from the people who have it.

BTL, it would seem, have it in buckets.

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the only place to get money is from the people who have it.

BTL, it would seem, have it in buckets.

If they have so much money why do they need so many tax breaks and incentives to buy?

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