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Government to water down BTL tax?

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17 minutes ago, subspace said:

Sajid Javid at the Conservative conference 13:10

https://m.youtube.com/watch?v=bX-muPl57EA

"At the autumn budget, we will bring forward incentives, new incentives for landlords who are doing the right thing"

Sounds like there is going to be some tax incentives for landlords who offer longer tenancies or join licencing schemes.

And the applause was conspicuous by its absence. 

I am still of the opinion that above a certain age people view tenants as second rate people who are not intelligent enough to buy without taking full stock of the housing market they've effectively created. The old boy we bought our home from mentioned that one of our neighbors was renting and said  "if you get any trouble with him the landlord lives across the road (and pointed to his house) and you can get him straightened out". 

Anecdotal of course but I see that older people tend to judge tenants much more than anyone my age (mid 30s)

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8 hours ago, subspace said:

Sounds like there is going to be some tax incentives for landlords who offer longer tenancies or join licencing schemes.

The threat of being prosecuted if they don't join the new licensing schemes and obey the new Laws should be enough, don't you think? :(

No more "incentives", please.

 

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9 hours ago, subspace said:

Sajid Javid at the Conservative conference 13:10

https://m.youtube.com/watch?v=bX-muPl57EA

"At the autumn budget, we will bring forward incentives, new incentives for landlords who are doing the right thing"

Sounds like there is going to be some tax incentives for landlords who offer longer tenancies or join licencing schemes.

Such a full-of-sh!t speech.

https://www.theyworkforyou.com/mp/24854/sajid_javid/bromsgrove/votes#housing

https://publications.parliament.uk/pa/cm/cmregmem/170911/javid_sajid.htm

http://www.propertyindustryeye.com/tory-mp-landlords-vote-down-proposal-to-outlaw-unfit-homes/

http://www.telegraph.co.uk/business/2016/10/06/government-calls-developers-bluff-by-promising-to-buy-the-homes/

etc

 

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10 hours ago, subspace said:

Sajid Javid at the Conservative conference 13:10

https://m.youtube.com/watch?v=bX-muPl57EA

"At the autumn budget, we will bring forward incentives, new incentives for landlords who are doing the right thing"

Sounds like there is going to be some tax incentives for landlords who offer longer tenancies or join licencing schemes.

I am so fed up with this type of property-ramping politician. Isn't he up to his neck in property? Hasn't he some sort of property development business himself? 

I don't play golf, but you know what? At least golfers wear the logos of their sponsors on their clothes.

 

Edited by Thorn
Typo

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It sounded more like "incentives" for landlords who do the right thing would mean that they are not hauled in front of the ombudsman (at their own expense).

Any rowing back from the BTL tax (S24 and SDLT) would be absolutely suicidal for the tories and they know it. They seriously need to re-engage with the under 40s, and make ambitious plans to either

a- crash the housing market (can easily blame Brexit for this!) 

b- a massive housebuilding programme using government land; perhaps prefab of the kind being produced soon by Legal and General and others. e.g: https://www.legalandgeneral.com/modular/

They need to do something radical, and quickly, so we see real results. If they don't, they are finished at the next GE.

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10 hours ago, adarmo said:

And the applause was conspicuous by its absence. 

I am still of the opinion that above a certain age people view tenants as second rate people who are not intelligent enough to buy without taking full stock of the housing market they've effectively created. The old boy we bought our home from mentioned that one of our neighbors was renting and said  "if you get any trouble with him the landlord lives across the road (and pointed to his house) and you can get him straightened out". 

Anecdotal of course but I see that older people tend to judge tenants much more than anyone my age (mid 30s)

Clearly has a strong working knowledge of contract law.

1 hour ago, Thorn said:

I am so fed up with this type of property-ramping politician. Isn't he up to his neck in property? Hasn't he some sort of property development business himself? 

I don't play golf, but you know what? At least golfers wear the logos of their sponsors on their clothes.

 

Quite.

15 minutes ago, oatbake said:

It sounded more like "incentives" for landlords who do the right thing would mean that they are not hauled in front of the ombudsman (at their own expense).

Any rowing back from the BTL tax (S24 and SDLT) would be absolutely suicidal for the tories and they know it. They seriously need to re-engage with the under 40s, and make ambitious plans to either

a- crash the housing market (can easily blame Brexit for this!) 

b- a massive housebuilding programme using government land; perhaps prefab of the kind being produced soon by Legal and General and others. e.g: https://www.legalandgeneral.com/modular/

They need to do something radical, and quickly, so we see real results. If they don't, they are finished at the next GE.

Good post.

The Tories are the Goldman Sachs of UK politics.They always survive.They need to transfer home ownership from BTL LL's to people under 40 to get hem voting Tory.

The idea that the Tories won't throw BTLers under the truck to preserve themselves,goes against the weght of history.

 

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2 hours ago, Sancho Panza said:

Clearly has a strong working knowledge of contract law.

I think you're being sarcastic so.....

1. There's no such thing as 'contract law'. At the highest level there are two branches of law in the UK. Case and Statute. 

2. The contract has a notice period of one calendar month

Not that I agree with the sentiment there of course. Shame you've glazed over the point about older people profiling tenants in favour of a flippant and pointless remark. 

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13 hours ago, Thorn said:

I am so fed up with this type of property-ramping politician. Isn't he up to his neck in property? Hasn't he some sort of property development business himself? 

 

 

What neck?

latest?cb=20141120024036

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Given the speculation about a deterioration in public finances, I doubt that the Chancellor is going to be able to backtrack on any of his current tax plans. Especially considering that landlords are one of the easiest sources of tax revenue, with high-value assets which are made of bricks and can be seen on Google Maps. It is also one of the few government policies which is popular with younger voters.

Of course, we should not discount the possibility that the Government will do something short sighted to try to kick start the housing market yet again.

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15 hours ago, adarmo said:

I think you're being sarcastic so.....

1. There's no such thing as 'contract law'. At the highest level there are two branches of law in the UK. Case and Statute. 

2. The contract has a notice period of one calendar month

Not that I agree with the sentiment there of course. Shame you've glazed over the point about older people profiling tenants in favour of a flippant and pointless remark. 

I was making a reference to the tenants right to quiet enjoyment.

LL entitled to give 2 months notice,no quibbles.

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7 hours ago, Sancho Panza said:

I was making a reference to the tenants right to quiet enjoyment.

LL entitled to give 2 months notice,no quibbles.

Glazed over yet again. 

I shall call you doughnut henceforth. 

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On ‎10‎/‎8‎/‎2017 at 8:52 PM, oatbake said:

It sounded more like "incentives" for landlords who do the right thing would mean that they are not hauled in front of the ombudsman (at their own expense).

Any rowing back from the BTL tax (S24 and SDLT) would be absolutely suicidal for the tories and they know it. They seriously need to re-engage with the under 40s, and make ambitious plans to either

a- crash the housing market (can easily blame Brexit for this!) 

b- a massive housebuilding programme using government land; perhaps prefab of the kind being produced soon by Legal and General and others. e.g: https://www.legalandgeneral.com/modular/

They need to do something radical, and quickly, so we see real results. If they don't, they are finished at the next GE.

a -That may work for the opposition, if they take power post Brexit, but not for the government that takes us through it.

b - They have left it too late, even if they started tomorrow by the time of the next election there would still be relatively few people benefiting from those new houses but millions still upset from all the planning rows that would flow from any radical mass building program. 

I wouldn't be surprised if, at the top of the Tory party, they have already concluded that a Corbyn government is now inevitable and are now thinking about how both to minimise the size of his victory and ensure that he inherits a poisoned chalice.   

 

 

 

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11 minutes ago, Confusion of VIs said:

a -That may work for the opposition, if they take power post Brexit, but not for the government that takes us through it.

b - They have left it too late, even if they started tomorrow by the time of the next election there would still be relatively few people benefiting from those new houses but millions still upset from all the planning rows that would flow from any radical mass building program. 

I wouldn't be surprised if, at the top of the Tory party, they have already concluded that a Corbyn government is now inevitable and are now thinking about how both to minimise the size of his victory and ensure that he inherits a poisoned chalice.  

The answer is b.

http://www.constructionenquirer.com/2017/09/27/build-to-rent-fuels-100000-homes-building-boom/

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13 minutes ago, Confusion of VIs said:

a -That may work for the opposition, if they take power post Brexit, but not for the government that takes us through it.

b - They have left it too late, even if they started tomorrow by the time of the next election there would still be relatively few people benefiting from those new houses but millions still upset from all the planning rows that would flow from any radical mass building program. 

I wouldn't be surprised if, at the top of the Tory party, they have already concluded that a Corbyn government is now inevitable and are now thinking about how both to minimise the size of his victory and ensure that he inherits a poisoned chalice.   

 

Can't get a grip on the position myself, but I can point to my posts that there would be "hard fighting ahead" soon after May announced a General Election (just couple/few weeks after she signed (in a room all by herself with no other ministers there at the photocall) her A50 letter to Tusk/EU.

I was told Conservatives already won it and to stop trolling/being problematic about thinking Labour could get anywhere in GE.

Conservatives need to do something.  Crapitalism/Selfservitism has been taken to extremes, and not real capitalism for housing.

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8 hours ago, Simhadri said:

Sajid might reverse some of the rules like 10% depreciation allowance being removed.

There's no such "10% depreciation allowance". 

You might be thinking of the wear and tear allowance but that has not been removed, so its removal cannot be reversed. All that's happened is that now you actually have to prove you have replaced something that was worn or torn. Previously, you just claimed the money regardless, as a "billy bonus" for being a landlord. The only thing being removed is the ability for fraudulent claims under this category. HTH

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Didn't I read somewhere that SJ's brother has a property business/empire?  And that SJ used to work for him, or be a director of said co., or something?  Pls correct  me if wrong. 

Would be a great deal more to the point if instead of rewarding LLs who 'do the right thing' they would start heftily penalising those who do the wrong thing, I.e.slumlords renting out dire hovels - probably the very ones who conveniently forget to tell HMRC about their rental income. IIRC a bill to compel LLs to provide accommodation fit for human habitation has been voted down at least once. 

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On 08/10/2017 at 8:52 PM, oatbake said:

It sounded more like "incentives" for landlords who do the right thing would mean that they are not hauled in front of the ombudsman (at their own expense).

But he referred to the budget, which surely means something related to taxation or spending.

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21 minutes ago, subspace said:

But he referred to the budget, which surely means something related to taxation or spending.

Good point. I really hope the Tories aren't dumb enough to row back on any of this...

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On ‎09‎/‎10‎/‎2017 at 9:45 AM, MrMonkey said:

Given the speculation about a deterioration in public finances, I doubt that the Chancellor is going to be able to backtrack on any of his current tax plans. Especially considering that landlords are one of the easiest sources of tax revenue, with high-value assets which are made of bricks and can be seen on Google Maps. It is also one of the few government policies which is popular with younger voters.

Of course, we should not discount the possibility that the Government will do something short sighted to try to kick start the housing market yet again.

I agree and not because the Tories are philanthropic just that ultimately its about money and clinging to power - some of their current policies just happen to coincide with what younger voters want but looks like sheer coincidence - weirdly it was a very deliberate act by Osborne to really hit LL's who is the last person you would of thought would do that,  bit darth vaderish a little bit of good in there who knows

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5 hours ago, Assume The Opposite said:

Tories are quite stuck. They can't alienate their wealthy donors with policies to help the younger generation and working class. But the younger generation are a growing problem which won't go away. 

What ya gonna do..:lol::lol:

Realistically they can only properly address these issues while in opposition. Trying to do it while in office will only alienate their core voters while failing to be enough to attract new voters in the required number.

The tricky part will be doing this in a single term. If Labour proves to be a competent government they could be in opposition for a very long time, however they do have the advantage of a Jeremy Corbyn led Labour party. 

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