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  • Property-a-holics

    Landlord death by 26 cuts

    Hi, in case this helps you choose who to vote for tomorrow, below is a viewpoint you may not have come across...

    I have checked these references myself and the quotes from the EU document are all accurate.

    Hope you find this interesting.

    Xxx

    The EU has done many good things, but the EU we have grown up with is NOT the EU of the future. And votes are cast for the future we want, not the past already gone.

    This new future is explained on the European Parliament Website, in the document : “FUTURE OF EUROPE: European Parliament sets out its vision”. You can find it here:

    https://www.europarl.europa.eu/resources...Q085MnyeSc

    So why don’t I like the EU Commission’s “Vision” of the EU of the future?

    Page 3 of this document says they are: “improving the functioning of the European Union building on the potential of the Lisbon Treaty”. So it appears that the EU Commission are implementing different policies to those negotiated Lisbon terms, without any new Treaty agreement from each Member State.  That sounds dodgy to me.

    There are many great comments / aspirations in this document, But below are the key issues from their statements that worry me:

    • The removal of all member states’ negotiated opt-ins and opt-outs and vetoes. Reduced level of democratic involvement by member states in EU policy decisions:

    EVIDENCE: See the Page 3 paragraph: “Ending Europe “à la carte”, with its opt-ins and opt outs and limiting the amount of inter-governmental decisions.” This simple statement has HUGE implications.

    • Introduction of an EU Armed Services Force formed by merging all member states’ forces:

    EVIDENCE: See Page 5: MACRON…Calls for a European initiative and a fully deployable European armed force ‘by the beginning of the next decade’. (That’s next year!)

    • Removal of member-states control of their own Finance policies and taxes - personal, social and business:

    EVIDENCE: See Page 13: MACRON’s statement on “EU-wide convergence, ….and “the harmonisation of corporate tax …by 2020…a range of rates that would bind Member States….” And on Page 15: “JUNCKER … Advocates moving to qualified majority voting for decisions on fair taxes for the digital industry.” (i.e. all online transactions will be taxed!)   And “MACRON “Call to ensure equity and confidence …by rethinking the tax system … through a tax on value created.”.

    (It's already happening - remember how the EU Commission rejected the Italian Government’s budget recently, and the Italians had to send a revised version for the EU Commission to approve!)

    • The policy for all member states to use the Euro as currency.

    EVIDENCE: See Page 21: “MACRON Sees the euro as the single currency of the European Union as a whole. ….. It’s a question of unity”.

    Note: People in the UK believe often believe the UK has an opt-out for the Euro. However, the section on Page 3 “Ending Europe “à la carte” (as mentioned in full above) clearly shows the EU intend to remove all opt-outs - and Theresa May’s Withdrawal Agreement would let them!

    So while the EU of the past has done many praise-worthy peripheral things with our financial support (e.g. food labelling, common standards, Erasmus, building Polish roads, the Athens subway, etc) as indicated above, the EU of the future will be quite different in some fundamental ways….

    (i.e. WHAT WILL THIS MEAN?)

    The EU Commission will decide: ● what Taxes that Tenants and Landlords must pay, and which regulations they must follow (but we are 1 voice competing with 28 countries' voices challenging any proposals); ● which wars we will fight in (and who gets “called up&rdquoWink; ●Tax Rates for UK people and businesses; ●which countries we can sell to with a trade agreement, and on what terms; and ●whether we must adopt the Euro to boost its credibility.

    Oh, by the way: ● there is no mention in the Vision document of removing endemic corruption and fraud in the EU, nor any mention of ●the EU changing the fish quotas, so EU states will continue to take over 70% of the fish (and profits) from UK waters – using disastrous methods, including sea-floor scraping and throwing dead fish overboard (the ban didn’t work).

    And what about democracy - is the EU democratic? Well, in the UK at a General Election the ordinary people of Maidenhead can remove Mrs May and replace her with another MP. Even if she is the Prime Minister. In fact, ordinary people across the UK can replace their UK Government Ministers and any MP in the same way.

    In the EU, by contrast, NO ordinary people from ANY member state can remove members of the EU Commission or the EU Council? NONE.    And once someone is appointed it is almost impossible to remove them. This is why some people say the EU is not a democracy.

    Food for thought !!!!

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    You raised some excellent points from said document - I copied the link so I could read thoroughly - you probably wont be surprised to learn that link/access to document no longer exists? 

    Can you remember how you found it originally peter & what heading it was under as I would still like to read?
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    People often wonder why landlords exiting causes homelessness because if a place gets sold someone has to buy it right?

    I may be a little unusual, but I can explain one way.

    Being a landlord has become such a miserable experience now that some of us with money are choosing to keep OUR houses empty rather than run the risk of doing something wrong, being fined etc.  Let me tell you, the saving in wear and tear is lovely!

    I now have 3 empty houses. Prime London family homes. My father has a further 2 empty. We just can't be bothered to jump through all the hoops anymore to get mugged, lose control of our assets, and at best gross about 3% in return for being on call 24 hours a day.  Also from the list, one of my tenants is about £5k in arrears due to the cut from HB to UC.  I am refurbishing mine to really high standards and enjoying it. I may sell them, I may not. They are all looking the best they ever have. I never had voids before the last year, now I am not replacing tenants when they leave.  I own all these houses outright so holding them is pretty cheap and fine for the short to medium term.  Controlled selling will probably be in order,

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    Good for you James, they're your properties and you should be able to do what you want with them!

    A completely random idea sprang to mind:

    If you were to let one or some properties to a film studio for filming tv shows, movies, etc (I believe this is available for unencumbered properties only), would they qualify for Entrepreneurs Relief at 10% on CGT if and when you choose to sell? There may be some capital allowances as well?

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    I can totaly understand where your comming from

    I am in the NE so I am in a different boat to you

    being in London I am sure you will be sitting on some lovely large gains

    If I was in your position I would be out of the market

    Take the profits and run

    Use the profits wisely and sit and watch this unfold

    BTL is changing from an investment into a Business

    The days are over for large capital growth so Move on and enjoy the fruits of your Investment 




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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.


    ``The days are over for large capital growth`` 

    `Large` is subjective . Time spans and %`s are specific

    We tentatively agreed a long time ago that capital values will likely double in 20 -25 years time .

    Do you still think that in 25 years house prices in the SE will have increased by 100% from today ?

    I do

    The days of large capital growth are not over in my view .

    Just the time span for that large growth to occur

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    Jonathan Clarke. http://www.buytoletmk.com

    I dont even think of Capital Growth JC

    My goal is a Supermarket?As long as I sell the Baked Beans (Yield) Capital Growth will take care of its self



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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.

    Now don`t be silly DL

    As an astute  property investor you  of course think about CG  

    You have avoided the question I asked about CG in 25 years time  ?


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    Jonathan Clarke. http://www.buytoletmk.com


    I dont occupy my mind with it JC 

    as I am not going to Remortgage or Sell a Property Its just a Fig

    The company may have a stronger balance sheet but thats just a fig too

    I can self fund Deposits and then use Capital and Repayment to pay down a third of the mortgage in 10 years 

    I am quite sure HMRC will have an interest when I go  and they will have to be paid

    But I wont be here so why should I worry about something i have very little control over

    Capital Growth again I cant control so why worry about it or even think about it

    I live on cash so thats my priority


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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.


    You thought about it when you made your comment about CG

    Now you are saying you dont think about CG - poppycock

    Cant have it both ways DL - ARRRRRRRGHHHHHH

    Answer the question you evasive daughter of a B****  :-)


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    Jonathan Clarke. http://www.buytoletmk.com