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  • Tax

    Budget 2018 date announced : 29th October



    Philip Hammond has tweeted the date of the budget

    https://www.bbc.co.uk/news/business-45658369

    Any changes for landlords?



    (*Screenshot of tweet added by moderator*).

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    I’m pleased to announce the Budget will take place on 29 October. = truth


    I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy. =
    fiction!


    Any changes made won't be for the benefit of LL's, I'd put money on that!

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    Why should they make changes to benefit landlords though?

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    Philip Hammond is being urged to use his Autumn Budget, which will take place on 29 October, to support investment in the private rented sector, as research shows that buy-to-let landlords are fleeing the buy-to-let market.

    The letting agent wants the government to remove the additional 3% stamp duty charge on second and buy-to-let homes, which has been imposed on landlords since April 2016.

    haart would also like to see a reversal of tax relief changes which are currently being phased in and which will see mortgage interest tax relief replaced by a tax credit limited to the basic rate of tax.

    Paul Sloan, development director for haart, said: “We are continuing to see buy-to-let purchasers fall on the year. The additional tax burden which has been placed on the sector has certainly been a setback and we would urge the Chancellor to remove this in the Autumn Budget to encourage investors into the market.

    “Landlords have in the past been a popular target for taxation, but the reality is that more and more people need rental properties to live in – and investors are needed to provide them.

    “The continued media commentary on the effect that the UK’s departure from the EU might have on the housing market is also unhelpful, especially given that it is largely sensational speculation not based on fact.

    “The facts are that property ownership is unsuitable or unaffordable for many and there is insufficient availability of social housing, making privately rented property an accessible and affordable option that is increasingly in demand.

    “With a decline in new rental properties coming onto the market and tenant demand continuing to rise, rents are predicted to rise further than house prices – meaning that buy-to-let remains a worthwhile investment.”

    Full/source article

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    I think that is pie in the sky thinking....   I personally would just be happy if we are not mentioned at all in the budget as I would see that as a win.

    I suspect there to be more likely an announcement on when the tenant fee ban is coming in (Probably 2019) also I think there may be some an extension of the redress scheme to cover all landlords as was the original plan...   Nothing that we are not expecting so not attacking us too hard after a brutal few years but can be seen by them as reminding the public they still hate landlords and are bashing them at every possible opportunity.

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    The problem is he could well be out of power by the time they try and implement any changes. Then the commies get in and its bye bye landlords.

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    Nah, MI6 will ensure Comrade Corbyn has a "heart attack" before he's let loose to do any real damage.

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    Shame MI6 didn't do that to David Cameron before he called the referendum and George Osbourne before S24.

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    I would be quite happy to see George knocked off

    two rich boys with trust funds and a nice PM pension for life

    that pair have caused so much bad in the uk


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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.