BTL is in desperate need of reform

Wee_Willy_Harris

StevieJ wrote: »

Strange, because that is what I am looking for as well.

Trust me, it's not.

chewmylegoff

StevieJ wrote: »

BTW when I propose that rent should be allowed to be claimed as a deduction against rental income, I suggest this as a substitution for mortgage interest and maintenance not as well as. My intention is to put the person who rents out and then rents somewhere else in a similar position to someone who had just stayed where they were.

they already are in a similar position, unless they decide to rent a more expensive home than they previously had.

i think it's rather odd than you think the tax system should be used to help someone to move to a more expensive house without having to pay the extra money that it costs.

why limit yourself to giving a tax break to people who keep their house and rent somewhere else more expensive. why not also advocate a reintroduction of MIRAS, but only for non-FTB moving to a more expensive property.

Graham_Devon

IveSeenTheLight wrote: »

Your other point about making it harder for BTL's, it would just restrict the supply, meaning that there would be more competition from the demand of renters and because the supply is restricted, likely increase the rents.

As I said, everything. Every single thing from the landlords on here is "dont do this, it will put rents up". Don't think we have had one single discussion surrounding renting where the same people haven't said the same thing, whether it's LHA restrictions, policy, regulation, or falling / rising house prices.

Quite the opposite. If BTL's were discouraged, for example, house prices would fall, and less would rent.

Simple supply and demand, as Hamish says, there is nothing else. Apart from that doesn't seem to count when talking about anything in which regulation could be imposed which would make things harder / less beneficial for the property investors.

Graham_Devon

StevieJ wrote: »

BTW when I propose that rent should be allowed to be claimed as a deduction against rental income, I suggest this as a substitution for mortgage interest and maintenance not as well as. My intention is to put the person who rents out and then rents somewhere else in a similar position to someone who had just stayed where they were.

But why!??

It was THEIR decision to move and keep ties to their old house.

I'm really struggling to grasp your thoughts on this, as it seems, is everyone else.

chewmylegoff

Graham_Devon wrote: »

I'm really struggling to grasp your thoughts on this, as it seems, is everyone else.

i'm guessing that stevie has rented his house out and moved to a more expensive rental property?

whilst we're on the subject, i would like a tax break for 31 year old accountants with a worrying amount of grey hair (obviously the qualification age for this tax break would increase by a year every year).

Graham_Devon

I'd like a tax break on my diesel, as I chose a job 20 miles from the house. Obviously this tax break would only be on diesel and on journeys over 19 miles to work. Everyone else I'm not all that concerned about.

DervProf

chewmylegoff wrote: »

a worrying amount of grey hair

Tip of the day -

Worrying about the amount of grey hair you have will cause your hair to go grey.

StevieJ

chewmylegoff wrote: »

i'm guessing that stevie has rented his house out and moved to a more expensive rental property?

whilst we're on the subject, i would like a tax break for 31 year old accountants with a worrying amount of grey hair (obviously the qualification age for this tax break would increase by a year every year).

Wrong, I don't see why someone should pay tax on income when they are having to pay rent elsewhere. Why do you keep saying that they gain by renting a more expensive house, my system would be neutral at best i.e. they couldn't claim more rent as a deduction than they are receiving in rent at most they could claim the same. I can only think that you are trying to wind me up

Wee_Willy_Harris

StevieJ wrote: »

Wrong, I don't see why someone should pay tax on income when they are having to pay rent elsewhere. Why do you keep saying that they gain by renting a more expensive house, my system would be neutral at best i.e. they couldn't claim more rent as a deduction than they are receiving in rent at most they could claim the same. I can only think that you are trying to wind me up

But why do you feel the taxpayer should make you better off than any other renter?

twadge_face

DexterA wrote: »

Rentals transfer money from the have nots to the wealthy, many who live in tax havens abroad. They are a drain on society. All rental stock should be nationalised and used for the good of the nation. The FSA needs to take ownership of the BTL problem and show some teeth.

I think this is a really good idea.

Until I want to rent out my home for a profit. :mad:

My! A nation divided!