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Britain’s 2.5million buy-to-let landlords could face Stamp Duty rate hike in the Autumn Budget.
The Treasury is looking for ways to raise money ahead of the Budget this autumn.
A government source said: “Increasing the buy-to-let levy is something the Treasury are looking at doing in the Budget.
“It will be sold as a measure to ease the housing crisis but it’s more about raising money.”
Source : cry to let in The Sun newspaper.
THE Treasury is looking for ways to raise money ahead of the Budget this autumn.
I understand one option being considered is a further increase in the Stamp Duty rate for buy-to-let properties.
This would, so the thinking goes, raise money for the Exchequer and help keep house prices down.
But if the Government is serious about helping more people on to the property ladder, as opposed to just raising yet more money from Stamp Duty, then what’s needed is changes to the planning laws to get far more homes built where people want to live.
by James Forsyth - Sun columnist and political editor for spectator.
Philip Hammond has been warned against hiking levies on buy-to-let properties over fears the move would result in lower revenues for the Treasury.
I was hoping for more news in media, but i can only find 2 sources of this speculation.
Edit - rest of the media world just woke up.
They are discussing this with glee on HPC forum.
Just when you were getting used to Osborne attack. FFS. :/
Coming soon Investorsk8.com
Wisdom - an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs.
Someone's told Phil that The Ministry of Housing, Communities and Local Government are considering offering landlords financial incentives for longer tenancies!
No S24 for all LL offering 3 year tenancies providing the eviction laws are amended.
That would result in only 3 years AST and no S24 taxes being paid.
So that will never happen then!!
It is bizarre that Govt reckons lowering Corporation Tax brings in more tax but that increasing SDLT will bring in more SDLT.
No it won't.
It will bring in less!
Lower taxes bring in more taxes; a concept that the Labour Party never understands
I really thought there might be more interest and reaction ?
(I know it's speculation at this stage.) But
Have I become the 'boy who cried wolf' in the community.
I know I would have to rethink my future plans of expansion!!!
If this becomes reality?
Just reduce leverage
It would take years to recover the SDLT in rent.
Be satisfied with what you have and degear it.
The fewer properties will mean you can increase rents.
It will hopefully mean fewer aspirant LL become LL.
A smaller PRS will be far more profitable for incumbents.
It will be disaster for tenants though as they will need to compete with lots of other tenants.
Still at least the homeless tenants can thank Shelter and GR for supporting the bonkers S24 policy so depriving many tenants of......................................shelter!!
This is the very reason I am standing aside from Leveraged BTL
I know this is stamp duty but it shows the feeling we have in the sector
Its madness and I hope it doesn't happen in the budget but never say never
None of us saw S24 ect but its reality
If they do this it will stall the market more than it is now in the SE but maybe that's what there intention is
I know we have seen a reduced take on stamp duty but Im not sure the Govt is using stamp duty to gain more taxes
I think stamp duty is to put off second home ownership
I can see a crash building in the UK property market
Once the fall starts it will not stop
I don't think we have seen anything yet to be honest
we have just had an interest rate rise and we have a generation of home owners who have never know rising rates
This will all fuel the issue confidence will drop and we have a crash
I just have a gut feeling this is not going to end well.
Learn Change and Adapt ?????
Yep but just think all those FTB not subject to the SDLT will be able to buy..................oh hang on there is nothing stopping these buyers buying now.
For some strange reason they aren't buying.
So it matters not if there is more stock to buy.
They aren't buying what is available now!!!
Paul this whole thing is rigged on spin
the haters of second home owners ect just don't see the reality
FTB are not buying ex Landlord Stock I see this every day when im on my rounds
I know a number of Tyneside Flats for sale from Landlords that are not moving just cobwebs on the sales board
and that's in the NE where we are talking about a two bed flat for £75k
It's not happening
FTB are buying houses 2bed and 3 beds from home owners ???????
in fact they are buying what I would have bought 4 years ago and the prices are rising
Flats are just becoming a No Man's Land at present but once the houses go over £145K the flats will sell again - £145k was the price they were in 2007 before the crash but I was picking them up for 75k to 80k
At present the houses are selling for around £125K
The last thing any UK government wil want is a massive crash in property prices. UK people are so invested financially and emotionally in property it’s political suicide.
As Warren Buffet said. When people are scared, I’m greedy. When people are Greedy I’m scared.
I am currently Greedy and still buying as everybody else seems scared.
These policies will have unintended consequences and those holding their nerve will be the winners.
I have to agree with buffet on this buy when others are scared
i belive we are heading for a crash
and I belive the govt want it to happen
they do not want Property inflation and just useing our sector will have an effect if we own 20% of the uk market
we are now seeing crowdfunding developments struggling to sell
we are in for long stagnation at best or a crash
if we have stagnation for 10 years and inflation at 3% we have a 30% drop in real terms
we are only at the start of S24
the govt will cause this crash
but if it happens in a few years it may be a buying time again
but now is not the time to buy
DL,I have a great respect for your views. I do however feel you have become a bit of a Chicken Little.
Do we say to the Lady who sells sunglasses, to sell up and get out as the forecast is rain for the foreseeable future. Or do we say hang in there as the sun will one day return.
Do we say to the man who sells Umbrellas who has made a fortune out of the current rains to give up once the Sun shines again or to just wait for the next rains that will surely come again.