Who is going to upgrade old UK housing stock, damp dumps, corporations? No chance. Small investors stop investing and sell, go live in Bali. Government hate successful individuals, as for cutting winter fuel allowance pure evil... shows what they are made of!
There is absolutely no question about the motive and general direction here. The motive is to make it so difficult for small landlords that they leave and then major institutions and corporations take over the housing market.
I remember in the late 60's and early 70's that council housing was in terrible condition. Single glazed metal framed windows, outside toilets, inadequate insulation and damp. It took ages to get them to fix anything
That's exactly what is happening the erosion of any person who dares to try and build a decent life for themselves and their family. They want upper class and know your place class.
Yes it can get worse and I am regretting the fact that I didn't start selling up properties in my name years ago. The banks and the Taxman/Tax person are the only ones profiting from my work, because of Section 24 and high interest rate. I have earned zero income for the last 2 year and I am still being taxed because my mortgage interest is slightly more than my income which cannot be classed as an expense in full.
Hi Thanks for the information, yes it will incrementally get worse. Unfortunately i don't see way out without landlord consultation scheme to understand and assess the damage this will have on People's lives.
@@UK-Property-Tax-Accountants people cant really riot up and say slum landlord because this is gone from a tax break to increased revenue stream for government. Less subsidising more capitalism for jurisdictions
Dont need to be a landlord any more. With gold going up 30% a year. That is 10 times the rent you get on any house rental return. You make more profit on 20k of gold coins in a year than you do on a 200k flat rental. After tax. Gold coins are tax free. Being that you cannot tax a currency.
The issue about gold is that you do not get an income from it rather than the gates. Which, may be enough for you, but not for others. Mixing different types of investments is always a very good idea to spread risk
Not easy to look at something like this in isolation as there is an interplay between so many factors. Policy changes will depend upon whether government, as previous ones have done, just look at individual aspects in isolation in a simplistic fashion. In broad outline for the future, the following need to be addressed: 1. We have an aging population and a declining birthrate. Do we try and make it easier for the young to start a family and have a secure home to live in or do we allow immigration to pick up the shortfall? 2. If we go down the immigration route then massive housebuilding and infrastructure is needed. This will require massive capital spend, quite possibly an increase in taxation and stiff public resistance. 3. Public services are deteriorating and require further investment. This will need further borrowing and that in turn will require further taxation. The question is, from where? 4. UK productivity per capita has flatlined over the past decade or so with the only growth coming from immigration numbers. The government want to improve growth and productivity and that will only be achieved from investment. That will require more borrowing and further taxation. 5. What happens if landlords start to sell? Are there enough potential buyers or will prices have to fall? Will the government be able to borrow enough or create enough new money to buy up some of this stock and turn it into social housing? Would they seek a discount, would they levy a tax on properties empty for too long waiting for sale? There are just so many questions but the current status quo doesn't function and needs to be addressed.
If the last cgt on unrealised gains happens then i will have to sell up buy gold with the priceeds never to return to the uk again stay in thailand where i am a citizen. And live on a % of my gold value going up at 30% last year. And my 2 kids would never have to pay IHT if they stay in thailand.
The really big thing on the horizon is EPC C, most landlords own older terraced properties, they will NEVER get to a C without massive investment........ just evict and sell and enjoy life. Let the govt and councils take up the slack :) There will be a lot of it !!!
I find that EPC irritating. I thought tory and labour were going to drop it last year. I will give a notice of non consent to my agent if i get a new tenant.
Why are they doing this and also moving up the rates for personal taxes also😂then they wanna cramp down on other assets people got, what they expect people to do
They want to drive property ownership to Corporations, institutions. What they should do is limit mortgages to purely the depreciated cost of construction, but index linked. That would stop the developers/landbankers from printing money from land. Additionally, the government should build on greenfield land at cost for long term rental. Much cheaper rents, it's crazy at the moment where people are paying on rent a huge percentage of their net income, the governments own guidance is that housing should cost around 12% of income for the lower to average paid. People would have more free cash to spend on other things in the economy, more saving, and more taxes.
Don’t believe a word of what journalists say. They always ask so called experts who are also in the dark. When they are right they say “t old you so”. When they are worn they blame the government of u-turns or other excuses
I only rent out my houses cos i kept on moving to different jobs and kept buying a new house near my work. I am letting people stay in my houses cos i am living in thailand now with my young kids. The tenants all pay discounted rents. I have not put up the rent on one house for 20 years now. If the tax gets too much i will just sell up and buy gold with the money whivh did 4 times better than property over the last 20 years. My dad built houses so i like houses. I did play monopoly lots with my brother too which tells youn to buy housrs and hotels. Game gramming as a kid.
Who is going to upgrade old UK housing stock, damp dumps, corporations? No chance. Small investors stop investing and sell, go live in Bali. Government hate successful individuals, as for cutting winter fuel allowance pure evil... shows what they are made of!
Fully agree with you and it makes me sad and Angry 😠
There is absolutely no question about the motive and general direction here. The motive is to make it so difficult for small landlords that they leave and then major institutions and corporations take over the housing market.
I tend to agree with you on that. Killing entrepreneurship altogether and make everyone employees to the system
I remember in the late 60's and early 70's that council housing was in terrible condition. Single glazed metal framed windows, outside toilets, inadequate insulation and damp. It took ages to get them to fix anything
Those days may return but maybe the government have learned their lesson
That's exactly what is happening the erosion of any person who dares to try and build a decent life for themselves and their family. They want upper class and know your place class.
Yes it can get worse and I am regretting the fact that I didn't start selling up properties in my name years ago. The banks and the Taxman/Tax person are the only ones profiting from my work, because of Section 24 and high interest rate. I have earned zero income for the last 2 year and I am still being taxed because my mortgage interest is slightly more than my income which cannot be classed as an expense in full.
I feel your pain. I really do. ☹️
Hi
Thanks for the information, yes it will incrementally get worse. Unfortunately i don't see way out without landlord consultation scheme to understand and assess the damage this will have on People's lives.
@alqaimyouth indeed 🙄☹️
The exact same thing happened to me. Selling ASAP.
@sirrodneyffing1 it’s a shame to see people having to sell up because of government policies killing entrepreneurship
The renter left are gonna get a huge price increase and this is gonna be purely from government
I would have thought so
@@UK-Property-Tax-Accountants people cant really riot up and say slum landlord because this is gone from a tax break to increased revenue stream for government. Less subsidising more capitalism for jurisdictions
Dont need to be a landlord any more. With gold going up 30% a year. That is 10 times the rent you get on any house rental return.
You make more profit on 20k of gold coins in a year than you do on a 200k flat rental. After tax.
Gold coins are tax free. Being that you cannot tax a currency.
The issue about gold is that you do not get an income from it rather than the gates.
Which, may be enough for you, but not for others.
Mixing different types of investments is always a very good idea to spread risk
Look what they have done to second Home council tax in Wales - 300% of the normal rate - this will put lots on the market amd crash the market
Ouch 😓
Not easy to look at something like this in isolation as there is an interplay between so many factors. Policy changes will depend upon whether government, as previous ones have done, just look at individual aspects in isolation in a simplistic fashion.
In broad outline for the future, the following need to be addressed:
1. We have an aging population and a declining birthrate. Do we try and make it easier for the young to start a family and have a secure home to live in or do we allow immigration to pick up the shortfall?
2. If we go down the immigration route then massive housebuilding and infrastructure is needed. This will require massive capital spend, quite possibly an increase in taxation and stiff public resistance.
3. Public services are deteriorating and require further investment. This will need further borrowing and that in turn will require further taxation. The question is, from where?
4. UK productivity per capita has flatlined over the past decade or so with the only growth coming from immigration numbers. The government want to improve growth and productivity and that will only be achieved from investment. That will require more borrowing and further taxation.
5. What happens if landlords start to sell? Are there enough potential buyers or will prices have to fall? Will the government be able to borrow enough or create enough new money to buy up some of this stock and turn it into social housing? Would they seek a discount, would they levy a tax on properties empty for too long waiting for sale? There are just so many questions but the current status quo doesn't function and needs to be addressed.
Thanks ever so much for the considered and valuable insights 🙏
The are acting as Private Lets are Social Housing Stock. They are creating a massive Rental crisis as LL sell up.
And they will come with their begging bowls but no one will answer
If the last cgt on unrealised gains happens then i will have to sell up buy gold with the priceeds never to return to the uk again stay in thailand where i am a citizen. And live on a % of my gold value going up at 30% last year. And my 2 kids would never have to pay IHT if they stay in thailand.
You will be followed by many others I am sure ☑️
I’m a landlord and I’m selling up.
Another one leaves, which will only add problems to the housing sector. Sorry to see you go
The really big thing on the horizon is EPC C, most landlords own older terraced properties, they will NEVER get to a C without massive investment........ just evict and sell and enjoy life. Let the govt and councils take up the slack :) There will be a lot of it !!!
Agreed 👍
that will never come in, would cause absolute CHAOS. They are dumb, but not that dumb.
Sorry to say, but Labour have announced it. It’s coming….. like the plague in 2030. :(
I find that EPC irritating. I thought tory and labour were going to drop it last year.
I will give a notice of non consent to my agent if i get a new tenant.
Sell... Forget the UK
Who is coming with me to Spain then? 🇪🇸
Why are they doing this and also moving up the rates for personal taxes also😂then they wanna cramp down on other assets people got, what they expect people to do
Exactly ☹️
They want to drive property ownership to Corporations, institutions. What they should do is limit mortgages to purely the depreciated cost of construction, but index linked. That would stop the developers/landbankers from printing money from land. Additionally, the government should build on greenfield land at cost for long term rental. Much cheaper rents, it's crazy at the moment where people are paying on rent a huge percentage of their net income, the governments own guidance is that housing should cost around 12% of income for the lower to average paid. People would have more free cash to spend on other things in the economy, more saving, and more taxes.
@Tomm9y the cost of living is crazy at the minute for sure in the UK 😔
Todays Times says property capital gains will remain at 24%
Don’t believe a word of what journalists say. They always ask so called experts who are also in the dark. When they are right they say “t old you so”. When they are worn they blame the government of u-turns or other excuses
I only rent out my houses cos i kept on moving to different jobs and kept buying a new house near my work. I am letting people stay in my houses cos i am living in thailand now with my young kids. The tenants all pay discounted rents. I have not put up the rent on one house for 20 years now.
If the tax gets too much i will just sell up and buy gold with the money whivh did 4 times better than property over the last 20 years.
My dad built houses so i like houses. I did play monopoly lots with my brother too which tells youn to buy housrs and hotels. Game gramming as a kid.
Great share thank you 🙏
CLOSE THE HOUSE OF LORDS
It might be time to start thinking that way after the give em spiral the UK into the 3rd world
Landlords will just sell up and then there will be a real housing crisis. Millions sleeping on the streets.
If they keeping hitting Landlords.
100% agreed 👍
Land Lords will simply pass on this burden onto Their Tenants, What difference will it make , Crazy Law from even crazier Politicians 🤔😂🫣
You are right and it is the tenants that suffer 😔😡