Politics of Taxing BTL Landlords

davejamal

So the budget says Buy to let landlords will not get full tax relief on mortgage interest unlike other types of businesses.

Let us be clear. This is not really about equality for all property owners, or about helping reduce the property bubble, or helping renters.

There is a hidden agenda.

The anti-landlord lobby is really driven by vested interests in the City. By making Buy-to-Let less attractive this forces small investors saving for pensions to invest in traditional funds with their accompanying fees which line their pockets. Unfortunately the anti-landlord bandwagon is an easy target, and the people who want more social equality do not seem to realize who is really behind the lobbying and out to benefit.

Innys1

So tell me, who REALLY was behind the JFK shooting? As a conspiracy theorist, I'm sure you know.

Graham_Devon

davejamal wrote: »

The anti-landlord lobby is really driven by vested interests in the City. By making Buy-to-Let less attractive this forces small investors saving for pensions to invest in traditional funds with their accompanying fees which line their pockets. Unfortunately the anti-landlord bandwagon is an easy target, and the people who want more social equality do not seem to realize who is really behind the lobbying and out to benefit.

How does it force anyone to do anything?

I suppose having to claim your actual expenses for improvements, like every other business, is also some huge conspiracy?

Old_Git

home owners don't get tax relief on the mortgage ,why should a landlord .
BTW I am a landlord I will miss the 10% deduction for wear and tear but I will get over it .

buglawton

The historical reason BTL mortgagees could claim all interest as an expense against tax was, it was treated as a business like any other. The new political dimension as of this Budget is: Housing is a special case and now needs different tax treatment.

ivavoucher

can somebody explain what this actually means.

btl mortgage of £84,000
interest only repayments: £250 per month.
I can currently claim the £250 as an expense.

how will this be effected by the new budget rule?

Old_Git

So we might have less BTL landlords ,that could keep house prices down and help first time buyers .

landlords might push the rent up to compensate ,

landlords might decide to collect some rent cash in hand .

Old_Git

ivavoucher wrote: »

can somebody explain what this actually means.

btl mortgage of £84,000
interest only repayments: £250 per month.
I can currently claim the £250 as an expense.

how will this be effected by the new budget rule?

you can claim the interest as a basic rate tax rate ,20%

If you pay tax at 20% there will be no change it you pay at 40% you will be allowed tax relief at 20% rate

blinko

overall this will benefit the economy in the long run.This is the right thing to do and IMHO should've been done a lot sooner. If you are a lower rate taxpayer there is no change.

Running_Horse

I would go a lot further and introduce a specific BTL tax to claw back a fraction of the billions thrown at private landlords in housing benefit. Wonder how many of those moaning about benefit claimants have been raking in wheelbarrow loads of taxpayers cash for not very much work.

Innys1

Running_Horse wrote: »

I would go a lot further and introduce a specific BTL tax to claw back a fraction of the billions thrown at private landlords in housing benefit. Wonder how many of those moaning about benefit claimants have been raking in wheelbarrow loads of taxpayers cash for not very much work.

This would deter private landlords in agreeing to HB tenants - as if that weren't hard enough already.

Many landlords simply say "No DSS". You think this change will make them more receptive?