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Could landlords be in for a further tax in the budget?,dare I say the majority being older!
The Tories encouraged BTL,so most invested as an as a pension,but word is he may slash tax relief on them too
Where will all this stop,I wonder?
The direction is more tax, in a way or in another...economy started to slow in 2017 due to Brexit (+0.2% 1Q, +0.3% 2Q, further sign of deterioration..), hence either Tory or Labour at a later stage would target LL more and more...Residential BTL would be a target...I just focus on commercial and mix residential/commercial, or small development opportuynity, or larger JV with Land owner...
It won't be tax as such
It will be removal of 'generous tax reliefs' on pensions etc
Could even remove all tax relief for S24
After all there are very few young LL! !
Sorry PT members but most of us are old gits!!!
There will be new private rental taxes
Like very costly membership fees for compulsory membership of a LL redress scheme.
The more you have the more you will pay
Removal of tax relief on pensions would hit the young not those who have taken their pensionsm since most of it comes on paying into pensions. It would also harm public finances in the long run. The was some talk of switching to an ISA like system, which gives relief in a different form and could be used to reduce overall relief, but again the toung would be affected most.
The young don't invest in pensions unless they have been auto enrolled and those pensions aren't worth anything
They just subsidise the State from having to hand out pension credit etc.
The young don't stay young and as they grow older the sensible ones will want to invest in pensions.
As for subsidising the state that is why I said it would be bad for public finances in the long run.
GR by definition isn't sensible.
They believe in Santa Corbyn which tells you everything about the naivety of GR.
What's that one about fooling the people some of the time! ?
Trouble is the damage will have been done
Corbyn will be the new PM though for some reason I reckon there would be a bloodless coup and McDonnell would take over
Momentum are extreme hard left and McDonnell is more their man
Always remember when Ken Livingstone did the same to Ian Mackintosh of the old GLC when Labour won the GLC elections.
Politicians of today aren't interested in the pension issues of GR.
Most of them will be dead and buried by then.
GR would rather have the latest iPhone than contribute extra to a pension
YOLO is their attitude.
They won't become sensible anytime soon.
GR has produced an idealistic and stupid generation who expect everything for nothing including a nice house near Mummy and Daddy in the SE.
Pensions are the last things on their mind; they just aren't cool!
They just want to have their rent made cheaper by Santa Corbyn so they can spend more on lifestyle.