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  • Tax

    Is the System Fair ? | Hard Life Taxation

    Is it a Fair Game?

    Do think it's fair that's certain parts of society get more incentives than others?

    At taxpayers expense. E.g Right to buy at discount, starter home scheme ( see link below)

    is it okay to Game the system if the oppurnuity presents itself?

    As long as not illegal - can you use techniques and strategies at your disposal.

    Should you be free to arrange your circumstances to take advantage of a system you pay into?

    Take a look at current and proposed own your home scheme.

    http://www.ownyourhome.gov.uk/schemes-all/

    The scheme that would really make my blood boil and concerns me the most.

    There are some nutjobs out there proposing that I sell my properties at a forced discount in the future.

    "Stop these profiteers from making money out of homeless people's misery. Requisition all buy to lets without compensation and sell them to the occupants, or to the homeless, for £10."  This is money comments section.

    Let think about this for minute. They want my years of sweat, blood and tears for simply having rented off me.

    1. I create a deposit with my hard earned after tax money.
    2. Now pay stamp duty with my hard earned after tax money. And now 3%
    3. I initially refurb and maintain using again my hard earned after tax money.
    4. Pay inflated council tax costs in-between voids and decoration.
    5. In the future from out of any slim rental profits, I maintain ,
    6. absorb the tenant frailty at my expense any personal money problems , money mismanagement, inability to budget, clean, air a house, DIY bodgifications. Life tantrums and relationship chaos, ( the list goes on)
    7. And in the future ever changing policy seeks to destroy what I thought was a viable business with taxation to appease and measures that displease.
    8. Alter my lifestyle so that they are looked after first and me second.
    9. The government just robbed my future pension planning.
    10. Goverment to tax us out of existence in favour of corporate buddies.
    11. Taxation without Representation -

    After all this - what is to follow?

    my blood, sweat and tears and years expended

    To be finally eroded by giving a forced discount to tenants

    like right to buy but called rent to buy to those who can't from those who can!!! 

    Would you be enthralled to  sell your BTL at 20% discount??

    you do the hard work, for it to be given away.

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      BTL - Vacant £450 PCM | Only £57951  in PT Marketplace.

    Not having a Plan. If you Fail to Plan, You're Planning to Fail.

    wisdom involves an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs.

    Communism is what such appropriation would be.

    You wouldn't have much to concern yourself with.

    Landlords are the first lot to be put up against a wall and shot.

    Corbyn believes all property is theft.

    What he will do is just tax LL out of existence.

    That way he gets money out of the evil LL.

    As for the RAR scheme I will evade tax on any lodger income in excess of the RAR scheme.

    What I earn in my own residential  property is up to me.

    No Govt will know what I choose to do in my house etc.

    Tax evasion is legitimate if the tax is wrong

    S24 and the RAR allowance are 2 examples.

    I'm not too happy with the extra CGT for rental properties  either.

    I would try and evade that as well

    There is a lot of tax avoidance which should be tax evasion if Govt changed the regulations.

    But they won't change them.

    If Govt is stupid enough to waste taxpayers money on HTB and RTB that is a political decision

    We return to Macmillan who very correctly stated that Thatcher was selling the family silver.

    We live with the effects  of RTB

    2 million social homes less

    A disaster.

    Very few of the council tenants are still private homeowners.

    They took the free RTB discounts and sold the properties

    Mostly the sale proceeds were p####d away and now those former council tenants are now back as HB tenants.

    Taxpayers money should not be used to fund private gain.

     There are exceptions to that when it comes to assisting industry etc.

    Like the £9 million or was it £billion that Govt has advanced to PSA to build the new Vivaro Van at Luton.

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    We still have 4.3 million social homes in UK after selling 2 million via RTB then adding 300,000 since 1981 when SRS peaked at 6 million homes - of which 1 million were pre WW2.

    SRS is now largely bedblocked by sick/disabled/retired all on lifelong tenancies with cheap rents - though there are around 360,000 voids annually across UK.

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    You say bedblocked! ?

    Where might such bedblocking tenants be housed if it wasn't for social  housing?

    Isn't that what it is for?

    Cheap rents of course.

    That is what social housing is.

    The taxpayer subsidises millions  of tenants with their rental costs.

    I don't see anything wrong in that.

    A political decision has been made for the State to provide such support.

    Who it is allocated  to is very much the question.

    Why for example do 400000 EU migrants have such social accommodation!?

    I don't want my taxes paying for that.

    Such migrants should be in the private sector.

    If they can't afford that then they should go home.

    I want my taxes to assist British citizens not every chancer who makes it to the UK legally or illegally trying to ponce off the system.

    It is just a socialogical fact that social housing is needed.

    It is just one of those things that taxpayers have to cough up for.

    I don't see as there is much of an alternative


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    Gary Hodge

    It was interesting the Wales doc ending RTB was available in

    Polish,  , Arabic , Portuguese , Spanish and Somalian. Language.

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      BTL - Vacant £450 PCM | Only £57951  in PT Marketplace.

    Not having a Plan. If you Fail to Plan, You're Planning to Fail.

    wisdom involves an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs.

    With PRS having average 4 yr tenancy and 5.5 million rentals the voids are several times the SRS turnover - hence for practical purposes for working people SRS mau as well not exist nowadays.

    That's in stark contrast to the pre 1977 SRS where overwhelmingly SRS lets were to workers paying own rents

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    Some more comments: this is money comments section.

    "Landlords are a serious problem in society as rent seekers are in general - they cause distortions of the property market, artificially inflating house prices and rents, they are unproductive people living off the earnings of others which makes them feckless -- But the biggest problem with them is they are taking money from the rest of us the 'hard working taxpayers' of the UK in benefits and subsidies which is costing us £30billion a year -- This market needs to be reformed." 

    "I love being a tenant. Lived in some nice places over the years and always manage to get between 3 and 6 months for free. It's easy, once you're in just stop paying the rent and it takes ages for the landlord to get the necessary eviction order. Leave in our own time before the eviction date and it's no hassle. Last one took the landlord 10 months to resolve due to some technicalities which was great. Didn't feel bad as he had a few other houses anyway. In the past we've been offered cash by a landlord to leave rather than her go to the hassle of court proceedings. She was so desperate, a nice lump sum it was too and we didn't even have to clean the place or empty the bins when we left. A favorable reference from a mate pretending to be our ex landlord and it's no problem getting somewhere else and doing the same again. Rinse and repeat, cheap accommodation, happy days. Might sublet next time, looking at a 4 bed place with bedrooms spare. Easy cash in hand I recon"

    I'm aware comments like this are in the minority , but its a growing reality and can have snowball effect and growing trend of villification towards landlords for failings of self or government.

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      BTL - Vacant £450 PCM | Only £57951  in PT Marketplace.

    Not having a Plan. If you Fail to Plan, You're Planning to Fail.

    wisdom involves an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs.

    The source of those 'quotes' would be interesting.

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    Is that so you can lynch them with bricks and mortar? Lol

    There are few regular posters

    whom cut and paste same drivel on every buy to let article that comes out.

    First one is JB from haslemere. Some more of JB verbal diarrhoea

    "The government should introduce a 'Right-to-Buy' your rented house from private landlords -- This financial solution can be sorted in many ways, you could have a flat discount funded by withdrawing the £14 billion tax allowances currently given to 'Buy to Let' landlords or a 35% to 70% discount off the cost depending on how long you have lived there using the same formula as council house sales -- Or with the government contributing 11%, the landlord contributing 11%, and the mortgage company contributing 11%, enabling a 33% reduction in the price. --- This would open up the possibility of real secure housing for many currently faced with insecurity of tenure and high rents. -- The important thing is to make it possible to buy the house you live in as a tenant, putting in place a financial solution to the serious economic problems in this market. -- Landlords should not be living off the poverty of their tenants, it is feckless."

    The second quote about abusing landlords eviction process doesn't have the decency to provide name or location. Uses pseudonym.

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      BTL - Vacant £450 PCM | Only £57951  in PT Marketplace.

    Not having a Plan. If you Fail to Plan, You're Planning to Fail.

    wisdom involves an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs.


    JB who posts in DM is regarded by most as a nutter - given the innate idiocy of his suggestions

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    Maybe he is an Ex politician. Certainly hope not a current one.

    Regarding JB

    I don't mind a voice with something to original to say, but to constantly cut and paste gets tedious. I click the worst posts tab and boom there he is. The perfect viliian.

    Regarding JC? Do you think this where is ideas come from.?

    Absolutely ludicrous suggestions by him.

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      BTL - Vacant £450 PCM | Only £57951  in PT Marketplace.

    Not having a Plan. If you Fail to Plan, You're Planning to Fail.

    wisdom involves an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs.