Are Tax Changes for Landlords Coming ?

[Richlist]

All the main political parties have said they will NOT increase  Income tax, National Insurance, VAT or Corporation tax. Whoever wins the election is going to need to raise £billions to fund everything. How will they do it ?......a new wealth tax, increases in stealth taxes, changes to CGT or perhaps they'll just hit landlords, as usual. Anything seems possible.......I cant imagine that landlords will escape. 

[Carryon Regardless]

Unhappy to be corrected, as I hope I'm right (just not far right).

There are signs that there has been recognition that the continual attack of LL's has created a rental property shortage.

But how Labour would / will justify leaving us alone, while things balance out, would be a challenge for them. After all they have said how they are going to make our lives more difficult.

But where the money comes from for their vague policies is as mysterious as where the magic money tree was planted by magic granpa.

[Melboy]

You can guarantee that the Labour and Conservative will make sure that you will be paying more indirect tax rather than the 3 election losing direct taxes which are NI, VAT and personal taxation but the Conservatives have already hit personal taxation by not raising the inflation threshold of £12,300 before personal tax kicks in and that remains in force until 2027.    I think they will also make sure that you when you depart this World they will skim even more money off your remaining wealth than they do already. I know of quite a few older people who are making sure that their hard earned life's wealth pile is diminished slowly but surely to avoid inheritance taxes etc. by helping their children and grandchildren and having major works carried out on their property like my next door neighbour...new roof, new double glazing, new driveway, new heating system just to get rid of surplus cash and he is not the only one around here either doing this.

[Richlist]

You don't have to spend your money in that way to put it out of reach of IHT. Spending it to avoid tax is a very short sighted way to deal with the problem. Most people take no professional advice about the subject. Of course, if you want to make gifts to family or improve your property then that's your choice but it's not entirely necessary. I consider your neighbours way of avoiding IHT the lazy approach......but we are all free to choose to spend our money in any way we want.

[Carryon Regardless]

I would have thought that spending to improve a property is going to increase its value. So come ashes to ashes time, assuming that the inheritance tax threshold is passed, then the inheritance tax due is increased.

Then, as peoples spend their dosh, those that will have increased revenues should then be paying more tax on their profits. The treasury sees a benefit earlier.

But I see the principle of having a flippin' good time while we can, or a new kitchen to keep some one happy.

 

 

[Melboy]

All this talk by the Conservative and Labour leader about the many taxes they are NOT going to raise leaves either party leader with a limited choice of where the money is actually going to come from to pay for the agenda that both  leaders say they will do. So that leaves only Council tax, Property banding reform (favoured by Labour) More inheritance tax, Landlords of course (another obvious choice by both Parties ) and probably a few more not so obvious taxes which will increase. Anybody reading this who is old enough to remember the Labour Government headed by one Harold Wilson back in the mid 1960's his Government and Chancellor caused the "Brain Drain" of talent out of the UK with their outrageous tax rises and the wealthy and the wealth creators fled the UK in their thousands.

Happy Voting!     😄

[Carryon Regardless]

Screwing more tax out of us isn't easy. 

I don't see it would bolster the treasury revenue by much to hit our profits any further.

They might hit our capital gains again, but I think it would be v difficult to justify. If that matters anyway.

I'm not saying that the politicians possess much intelligence, especially the jealous labour lot. But if this industry isn't going to look fruitful enough there isn't going to be enough takers in the future, to support the need for housing those the state can't support. Since so many of us older gits are bailing out, that is becoming crucial, if not critical. And there is (I believe) recognition of that. After all the media are now telling us how many tenants are being hoofed so their landlord can sell.

I'm sure that labour are going to re introduce a rent reform bill. If that is too socialist, and I see that it may well be, there will be an increasing return to unsavoury practices to terminate tenancies. Landlords will see there is little to lose by such.

I do feel there is a slow awakening at Westminster.

[Richlist]

There are lots of obvious areas where tax can be increased. Let's take CGT as an example....currently 18% & 28%. This could easily be brought in line with income tax rates at 20% & 40%.

Insurance tax, air passenger taxes, tourist tax etc etc etc.

If you vote Labour you WILL be paying higher taxes, for sure.