Politics of Taxing BTL Landlords

jjlandlord

ScorpiondeRooftrouser wrote: »

Buy to let is an atypical business. It doesn't produce employment. It doesn't generate wealth. It produces no end good for society as a whole. There's no reason to encourage it.

You clearly have a poor understanding of economics.

BTL does produce direct employment: Some landlords do that full time.
BTL does generate wealth: Landlords make a profit.
BTL does produce an 'end good for society': A place to live.

ScorpiondeRooftrouser

Innys1 wrote: »

So what about the agents, builders, gas engineers etc who do work for BTL landlords?

It does generate wealth for the landlords in the same way that a fund manager generates wealth for their clients. Or are you suggesting fund/investment managers are atypical too?

Students may not agree that BTL produces no end good (whatever that is) for society as a whole. Those on working visas and seconded staff would probably feel the same.

They would do said work for private owners; it doesn't generate additional work.

And of course it generates wealth for the landlords but purely by moving it from other people. It doesn't produce anything.

ScorpiondeRooftrouser

jjlandlord wrote: »

You clearly have a poor understanding of economics.

BTL does produce direct employment: Some landlords do that full time.
BTL does generate wealth: Landlords make a profit.
BTL does produce an 'end good for society': A place to live.

Employing yourself is not generating employment. One person making a profit at the expense of another person is not generating wealth. The places exists; the builders produced them.

Innys1

ScorpiondeRooftrouser wrote: »

They would do said work for private owners; it doesn't generate additional work.

And of course it generates wealth for the landlords but purely by moving it from other people. It doesn't produce anything.

It's been a long time since a letting agent or a gas safety engineer has done any work on my own private house. Do they do any work for you? If not, where is the additional work they would do?

As for builders, rental properties need a lot more maintenance than a privately owned property because the tenants don't look after something that isn't their own. So, no, the available building labour couldn't be used elsewhere.

So only those who produce something create wealth? That means hotels, travel companies, transport companies, the film industry, the financial services industry as a whole, the internet to name but a few create no wealth.

Admit it, you don't have a clue about economics, but, instead, are just jealous of BTL landlords

jjlandlord

ScorpiondeRooftrouser wrote: »

Employing yourself is not generating employment.

Of course it is. It creates one employment: Yours.

ScorpiondeRooftrouser wrote: »

One person making a profit at the expense of another person is not generating wealth.

Err, selling a service to someone is not making a profit at the expense of the customer.

As I said: deep ignorance of economics.

ScorpiondeRooftrouser

jjlandlord wrote: »

Of course it is. It creates one employment: Yours.



Err, selling a service to someone is not making a profit at the expense of the customer.

As I said: deep ignorance of economics.

Your ignorance is speaking for itself I'm afraid.

ScorpiondeRooftrouser

Innys1 wrote: »

It's been a long time since a letting agent or a gas safety engineer has done any work on my own private house. Do they do any work for you? If not, where is the additional work they would do?

As for builders, rental properties need a lot more maintenance than a privately owned property because the tenants don't look after something that isn't their own. So, no, the available building labour couldn't be used elsewhere.

So only those who produce something create wealth? That means hotels, travel companies, transport companies, the film industry, the financial services industry as a whole, the internet to name but a few create no wealth.

Admit it, you don't have a clue about economics, but, instead, are just jealous of BTL landlords

It's glaringly obvious what most of those industries create. The transport industry creates nothing? Are you insane? Certain parts of the financial industry it's true do nothing but move money from one place to another, much like buy to let which provides a service that people would rather not have.

Why would I be jealous of BTL landlords?

Prothet_of_Doom

Just in the process of buying our first buy to let, and the only thing that might change is that I WILL pay more tax, and it won't impact my voting for the evil !!!!!!!s that are in charge.
That it has always been my intention to be a fair and reasonable landlord, offering quality accommodation to working families, at a reasonable price, whilst building a future income stream that will provide that extra something into my retirement, is clearly not what the Tories want. What they do want is the really rich to get richer.

patman99

Wonder how many BTL landords end up with their entire paid-for stock being owned by a company based somewhere like the Cayman Islands or the British Virgin Islands in order to avoid Tax ?.

Tesco use this method to avoid a huge amount of Tax each year.

Anyway, there will always be a need for rented accommodation. There are a certain number of transient workers who need somewhere temporary to live whilst undertaking 6 month contracts in parts of the country they don't live in.

Maybe the single British worker who rents will take note of how his Eastern European workmates go about renting. 1 person rents the property, then having got the keys, moves-in, installs bunk beds and then rents the beds out to his fellow countrymen at £50 per week.

Innys1

You wrote this:

ScorpiondeRooftrouser wrote: »

They would do said work for private owners; it doesn't generate additional work.

And of course it generates wealth for the landlords but purely by moving it from other people. It doesn't produce anything.

Which implies, in your fairytale world, that wealth is not created unless something is PRODUCED - at least according to your definition.

ScorpiondeRooftrouser wrote: »

It's glaringly obvious what most of those industries create. The transport industry creates nothing? Are you insane? Certain parts of the financial industry it's true do nothing but move money from one place to another, much like buy to let which provides a service that people would rather not have.

Why would I be jealous of BTL landlords?

Yes, the transport industry doesn't producing anything - moving something from A to B is not producing anything. Nor do hotels, the travel industry or anything else I listed. So, they don't create wealth, at least according to you.

As for a service people would rather not have, tell that to the Uni students, those on working visas or seconded employees which I listed earlier and you conveniently ignored.

Plus, I note you didn't respond to my point concerning unemployed agents, gas engineers and builders. It must have slipped your mind - not.

Finally, you're jealous of BTL landlords because they have more money than you do or ever will. That's pretty obvious.............as is your ignorance.