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Well we are are moving through this Tax Year and we now have part 3 of S24 Taxation
My mind wanders to two things for the future of taxation
Will we see a reversal of S24 in the next Budget ?
Will we see the 40% threshold moved further up and by how much ?
I know Boris says it could go to £80,000 a year
Personalty I think the Threshold will be moved up again , but I don't think it will be £80,000
I have seen nothing to give me encouragement that S24 will be removed
What do you think the next budget will bring ?
It's going to be interesting to see how this all pans out with the Question of the EU
Personally I think the penny is now starting to drop with the Tories
They need to start supporting the PRS and small business in general ....
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.
I think the recent success of the Brexit Party and the Liberal Democrats has shifted the focus of the Conservatives.
Three things that appear to be under consideration are income tax, corporation tax and national insurance. Promoting economic growth and helping those on low incomes appear to be vote winners.
I doubt we will see a significant increase in the HRT threshold, there is more likely to be an increase in the tax allowance and the national insurance allowance. Employers NI may well be increased to compensate for lower Employee NI contributions.
Corporation tax may be reduced to stimulate growth. As there would be no significant advantage to this reduction on investment companies it may well be limited to trading companies.
There may also be some review of Business Rates, either a reduction in rates or an increase in allowances.
I doubt there will be any changes to S24.
I think for once there will be some relatively good news for landlords. Tories are desperate to appeal to young voters and are fixated on young buying homes.I believe within the next couple of budgets there will be a sweetener for landlords selling to tenants either by reduced CGT or allowances if profits from a sale are reinvested.Perhaps i am being too optimistic and we will just get battered again, but at some point they will be wanting the votes back that they have lost from many landlords.
Stewardson Developments Ltd.
Burson Land Ltd. & Jennings & Gilchreaste Ltd.
Follow me on twitter - @philstewardson
DISCLAIMER just my personal opinion - for legal advice consult a qualified professional grown-up.
I agree Owen I think it may reach 80k over the next five years
which is a good thing and if we see the Tax fee allowance increase it will be helpful too
It cant get much worse unless Mr Corbyn comes to power
I think its highly unlikely the Labour vote is split with Mr Farages party
I think there is more likely at the next election a coalition with Farage and Boris
which has to be better than Labour
As much as I would not wish to see Comrade Corbyn et al, anywhere near a real Budget, I do think Boris is "Peddling Piffle" The talk of building up public services to their previous levels - e.g 20,000 extra Police Officers in 3 years is sadly not analogous to lowering taxes in any meaningful way...
Predictions for the next budget is pretty much a waste of time, as any major changes will only be reversed under the Labour Government. Conservatives have post the plot , Boris- having seen his reaction to the Ambassador and together with other actions is not fit to be PM. If he does become PM then the conservatives can look forward to many years in the wilderness and probably the end of the party as we know it.
Douglas agreed. He's not even PM and he's already admitting to mistakes.
As I've said before, he failed abysmally as both London Mayor and Foreign Secretary.
I can't understand how anyone who watched the debate and last nights interview would want him to have any sort of power at all.
Boris will be a disaster for this country. We can only hope his tenure at #10 is a short one.
Fortunately, labour are hopeless too.
I call them all The clowns of Westminster
we are in a bad place because of bad management which has gone on for 40 years
I would like to see honesty and good business practice in the UK
I am not totally anti EU but I am against open boarders This who issue could have stopped 3 years ago If the EU had allowed Border Control
we are all running around like headless chickens no one knows the answer to the problem
My answer is simple bring in Border Control and stay in the EU
we never joined shengin and we never joined the Euro
so we are different anyway again its just bad management
I dont care about straight Bananas
and do you know what my generation thats the older generation will not be around in 20 25 years or less
It will be the young who wanted to stay in the EU who will be here
I believe the government will maybe look to stem the flow of Sec 21`s which are at crisis levels
They cannot build fast enough so they need to house the homeless fast
So I believe possibly 3 things may happen:
1) Sweeteners for LL`s to sell to tenants (like Phil says . ) Win win for both
2) Sweeteners for LL`s who buy / sell to other LL`s with tenants in situ
3) Sweeteners for Councils who start buying off LL`s with tenants in situ
Jonathan Clarke. http://www.buytoletmk.com