Richlist Posted March 3, 2021 Report Share Posted March 3, 2021 I didn't see any anti PRS announcements in the budget.....no tax rises, nothing adverse.......that's certainly not what I was expecting. Capital Gains Allowance fixed at £12300 until 2026 Happy days Quote Link to comment Share on other sites More sharing options...
Phkarentel Posted March 3, 2021 Report Share Posted March 3, 2021 54 minutes ago, Richlist said: I didn't see any anti PRS announcements in the budget.....no tax rises, nothing adverse.......that's certainly not what I was expecting. Capital Gains Allowance fixed at £12300 until 2026 Happy days Feels like a stay of execution Quote Link to comment Share on other sites More sharing options...
Melboy Posted March 3, 2021 Report Share Posted March 3, 2021 I shall wait to see what he hasn't announced. 😀 ie No impending tax rise notice on Vehicle Excise Duty? Quote Link to comment Share on other sites More sharing options...
Richlist Posted March 3, 2021 Author Report Share Posted March 3, 2021 Just read on another forum that March 23rd is the key date for announcements on CGT, property & wealth tax. So, not out of the woods yet...... Quote Link to comment Share on other sites More sharing options...
Melboy Posted March 3, 2021 Report Share Posted March 3, 2021 The Chancellor stated today that 12,300 CGT allowance remains in force. Quote Link to comment Share on other sites More sharing options...
Richlist Posted March 3, 2021 Author Report Share Posted March 3, 2021 Yes, see my post at top of page. Quote Link to comment Share on other sites More sharing options...
Nev M Posted March 3, 2021 Report Share Posted March 3, 2021 Lets see what the March 23rd brings then. Fingers crossed. Quote Link to comment Share on other sites More sharing options...
Melboy Posted March 4, 2021 Report Share Posted March 4, 2021 I was listening to a financial expert last night and he stated that just a 1% rise in interest rates will wipe out completely the Chancellors budget forecasting. Frightening as it is generally expected that IR will rise within a year. Overall now that I have had time to digest the budget I don't think it was particularly that great but in his defence he has a hell of a job ahead in keeping the UK finances stable. Quote Link to comment Share on other sites More sharing options...
Nev M Posted March 6, 2021 Report Share Posted March 6, 2021 Frightening & interesting point on the interest rates and it does look like it will be hard for them to keep them down. The Government Bonds price also suggesting a interest rise. Agreed on the budget also and we will all have to sacrifice to help the country recover, i just hope its not aimed at CGT and Capital gains / more landlord expense. I am understanding on other direct & stealth taxes are needed for us to recover. They need to get the EU customs & tariff agreements sorted out post brexit amidst other issues as hurting business badly but hidden to a degree by the lockdowns and Covid. Quote Link to comment Share on other sites More sharing options...
Melboy Posted March 7, 2021 Report Share Posted March 7, 2021 My biggest fear is that this anti Landlord /BTL Government will pass legislation permitting Local Councils to keep a register of all the rental properties and have the power to fine landlords heavily for any minor/major infringements. This will raise an enormous amount of money for local councils...........just like their camera controlled bus lanes. I do believe in some areas of the country it does cost £300 per property to be on the Council register........not too sure about that as a fact though. Quote Link to comment Share on other sites More sharing options...
Carryon Regardless Posted March 7, 2021 Report Share Posted March 7, 2021 Mel you have recognised that Wales already have this effectively. In liddle 'ole England it's called Selective Licencing. The local Gov't apply for a licence and go through the process of asking us our opinion. I might suggest this is socialist councils that like this. Hydburn charge circa £800 each 5 years, I'm 2 years in the period 2. Stated each property would be inspected within the first year, after 7 years no sign thankfully. My view is that T lifestyle will be ignored and notices will be served for improvements. I am also responsible where my T's are unruly and antisocial ( an initiative M/cr have acted on a fair bit. LL have been accountable for rapes within their properties). It is here now just down to councils to apply and implement. I suppose they are watching the guinea pigs to see if there is overall advantage, financial mainly. Quote Link to comment Share on other sites More sharing options...
Nev M Posted March 7, 2021 Report Share Posted March 7, 2021 They are starting Licencing in Luton but delayed due to Covid for some reason. I think is set last i looked around £500 every 4 years and they said they use the money for staff to do spot check inspections on LL properties and no doubt will place fines for any non compliance they see or notice for improvements in set time period for minor things potentially. If the Tenant checks and reports you for not having the licence (They can check online) then there is a big fine up to a years rent proposed. Quote Link to comment Share on other sites More sharing options...
Grampa Posted March 7, 2021 Report Share Posted March 7, 2021 On 3/3/2021 at 2:46 PM, Richlist said: I didn't see any anti PRS announcements in the budget.....no tax rises, nothing adverse.......that's certainly not what I was expecting. Capital Gains Allowance fixed at £12300 until 2026 Happy days Unless you have a number of properties in a Ltd Co so the corporation tax increase could apply. Granted the income would have to be over 50k to start to kick in though. Quote Link to comment Share on other sites More sharing options...
Carryon Regardless Posted March 7, 2021 Report Share Posted March 7, 2021 In Hydburn a non licensee can be fined £20K and rents for the last 12 months returned. Quote Link to comment Share on other sites More sharing options...
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