Tax relief on renting

macaque_2

What if the government gave renters 10% tax relief on their rents? I'm sure it would be self funding (if you see where I'm going on this).

MrRee_2

There should be zero tax on BTL properties, after all - we are offering a community service.

BoGoF

macaque wrote: »

What if the government gave renters 10% tax relief on their rents? I'm sure it would be self funding (if you see where I'm going on this).

They already do....if the property is let furnished.

What's your point?

macaque_2

MrRee wrote: »

There should be zero tax on BTL properties, after all - we are offering a community service.

Hey! Don't have a go a me, I'm on your side. We all know what busy lives BTL's lead. What with Oprah at 3 and then Judge Judy at 4. It can be no surpise that silly little details get missed; like tax returns. Renters are here to help:

Macaque: Mr HMRC, I would like to claim my 10% on my rent for 2011 paid to Arthur Smith of 35 Rachman Drive.

Mr HMRC: I'm confused. Arthur Smith doesn't own a second property

Macaque: Oh dear, have I said too much?

Mr HMRC: No no, thats fine. Thank you very much. Just send in your claim and we will send you a cheque by return with a bunch of flowers.

reweird

macaque wrote: »

What if the government gave renters 10% tax relief on their rents? I'm sure it would be self funding (if you see where I'm going on this).

I would be marching on Parliament. Home ownership is a class thing, so why should those of us who take a risk in buying a property be less well off than a lowly renter?

macaque_2

reweird wrote: »

I would be marching on Parliament. Home ownership is a class thing, so why should those of us who take a risk in buying a property be less well off than a lowly renter?

Risk??? Whoa, slow down there!

The vast majority of house buyers didn't have a clue what risks they were taking when buying into the bubble. In fact the whole financial services industry went out of it's way to hide the risks.

And if nanny hadn't stepped in to rescue you, you would have crashed and burned years ago. You are happy with free market economics when market is going up but you are the first to demand government intervention when the pendulum swings. How often have we heard bulls on this forum demanding the retention of low interest rates, the return to loose lending or the use public money to support house buying.

Remember that it is pensioners who rely on bank interest rates for income who are paying the price of your foolish antics. Lets have a little bit more humility please.

gailey_2

macaque wrote: »

What if the government gave renters 10% tax relief on their rents? I'm sure it would be self funding (if you see where I'm going on this).

Interesting idea.

I assume 10%rebate on rent but unsure of details.

who pays the tax? as thourght it was the landlord not the tennant?
or is the tax factored into the rent price?
Assumed it was just vat at 20%

But at end of day we broke and cant afford tax rebates for anyone right now.

A better idea would be this new scheme they started for businesses to get credit.

maybe using one of state owned bank to stimulate market by supporting first time buyers to get on ladder.

Think theres few schemes

part buy/part rent but they hard to get onto
less deposit but on new builds only and few being built.

chucknorris

gailey wrote: »

Interesting idea.

I assume 10%rebate on rent but unsure of details.

who pays the tax? as thourght it was the landlord not the tennant?
or is the tax factored into the rent price?
Assumed it was just vat at 20%

But at end of day we broke and cant afford tax rebates for anyone right now.

A better idea would be this new scheme they started for businesses to get credit.

maybe using one of state owned bank to stimulate market by supporting first time buyers to get on ladder.

Think theres few schemes

part buy/part rent but they hard to get onto
less deposit but on new builds only and few being built.

The thread isn't meant to be taken seriously, it's having a light hearted go at landlords that actually do receive tax relief on the mortgage interest and/or implying that there are quite a few landlords that don't pay as much tax as they should.

gailey_2

chucknorris wrote: »

The thread isn't meant to be taken seriously, it's having a light hearted go at landlords that actually do receive tax relief on the mortgage interest.

ta sorry dident realise:rotfl:

its tough one as private landlords do provide a service.
especially with lack of social housing.

Dident realise landlords did get tax relief but guess they sort of self employed so any good accountant could minimise what tax paid.

chucknorris

gailey wrote: »

ta sorry dident realise:rotfl:

its tough one as private landlords do provide a service.
especially with lack of social housing.

Dident realise landlords did get tax relief but guess they sort of self employed so any good accountant could minimise what tax paid.

There's a lot of bitterness on this particular board so there is a lot of goading going on (although the OP doesn't particularly do this in a nasty way, although some others can and sometimes do, from both bears and bulls).

gailey_2

chucknorris wrote: »

There's a lot of bitterness on this particular board so there is a lot of goading going on (although the OP doesn't particularly do this in a nasty way, although some others can and sometimes do, from both bears and bulls).

No bitterness or goading here:o

find some posts confusing.

The title sometimes about renting and always gets onto conversation about those who own mocking renters yet again and boasting how well off they all are.

other day there was same title rent decreased and rent increased!

Do wish people could just get on.

The economys a mess right now.

practical discussion based on facts be more useful than 2 sides arguing all time. as tories say we all in this together!