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Just as in any religion which by its very nature is a false ideology BTL is seen in the same vein.
You can't convince ideologues.
Some of them are stupid enough go as far as killing themselves in the name of false ideologies!!
I don't think people are prepared to accept the BTL party is over.
It is which is why I am getting out of conventional BTL.
I will become a lodger LL immune from S24, CGT and lodger income taxation.
It is the only way to go if I want to keep to basic letting.
So we agree that the Conservatives aren't likely to extend S24 to companies, and that Labour will increase corporation tax.
Why do you think that Corbyn would only target companies for an increase in landlord taxes? Why wouldn't he just abolish all mortgage interest relief for all landlords? I think that would be easier for him to sell to his supporters and more popular with them then just a reduction for companies. I can easily see him doing that, but excluding HA and other social landlords.
Peter I think we will have a second phase of S24
I call it S24B
it would be so easy to do
Corbyn will have to fund the NHS Welfare ect ect now May has set the ball rolling with funding
I think the Conservatives would be a better choice but how much better is up for debate
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 believe calling it S24B and talking about extending S24 to companies is just confusing the issue.
I do not believe the Conservatives are likely to extend S24. I am sure that if they had intended to do more than they would have done so in one go. That is better politics. Get all the tax rises out of the way early on so that by the next election people will have adapted and will be less upset I believe they bought in S24 to help stop a repeat of 2008. I am sure they are now far more concerned with Brexit. They excluded small landlords - those who have a few properties as a pension as theysuspect such people would tend to vote for them. They also won't want to addect companies whilst BTR is a big part in their trying to increase building to make it look like they are doing something about the housing crisis.
I could see Corbyn abolishing all interest relief for (non-social) landlords as a political gesture. Eliminating it rather than reducing it would make him seem tougher on landlords and might well please the idiots of GR. He could say the money used would be used for council housing. Technical tampering to extend the reduction in relief would be much harder to sell and might just make him seem weak.
I agree, I expect eventually all tax relief to be removed for individuals and companies with exception the of HA and social landlords.
you and I Essex have a similar view on this topic
I could see a glimmer of hope and its this
The Govt could do a deal here with Landlords and its this
If the Landlord charges a Fair Rent or a Controlled rent simmer to HA or Councils they could than have Tax relief on there Mortgages
If the Govt offered this it would bring the PRS in line with Councils and HA
It would be seen as being fair and giving a Tenants a better deal
I think that would be too difficult to keep checking, also many companies are using debt and interest payments to keep their tax low and the public would support further restrictions on tax relief on interest payments for all companies, add in that the government needs to raise more tax and it looks like an easy target.
The way I look at this is there is going to be a crunch here at some point
and the Govt will realise this issue they will have If Landlords step away from the sector
The elephant in the room here is looking at us in the face S24 should have never been retrospective
Its a very silly policy and badly thought out
They will provide support to housing associations, CPOs of areas needing regeneration and will work with builders to build a large number of properties in a relatively short time. Have a read of the CPO Tower Hamlets used and subsequent development of the area I mentioned in this post.
You can see from this That BTL landlords are not going to be considered as a Housing Option
I stand by my views I think BTL is on a slow fuse if its leveraged
The Golden days are over really