Gov allowing tenants to buy PRS housing

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  • AndrewDod
    replied
    This is a pretty good summary - watch the videos of the man himself and decide if you want a fascist in power http://markhumphrys.com/jeremy.corbyn.html

    Unfortunately the voters are as thick as two bricks (some of them appear in the videos too). I cry for my adopted country.

    Eternal vigilance is the price of liberty

    Leave a comment:


  • AndrewDod
    replied
    Originally posted by JK0 View Post
    CGT is paid on more than the gain nowadays, as there is no allowance for inflation. Therefore I think charging at less than income tax is at least slightly fairer.
    Yes, but of course, so it is with tax on building society interest (mostly) which also just keeps track with inflation if you are extremely lucky.

    Fact is that massive and sustained inflation is exactly the way this sort of government extracts money from and punishes ordinary working people (i.e. the working class) until the thing collapses. Of course this type of government (Corbyn) is not there for the working class (or folk who live here) at all, and most certainly not for young people who will face devastation (apart from not getting Daddy's and Mommy's hard-earned cash either - or what is left of it).

    Leave a comment:


  • jpkeates
    replied
    I can't see a Labour government getting enough of a majority to get the kind of radical stuff they're proposing done.
    They'd need to lose Corbbyn, which would probably move them to the right.

    The housing market would be in a mess anyway - if anyone actually built the number of homes they keep promising, prices would fall and people wouldn't sell anyway.

    Leave a comment:


  • JK0
    replied
    CGT is paid on more than the gain nowadays, as there is no allowance for inflation. Therefore I think charging at less than income tax is at least slightly fairer.

    If the government push it up any more, they'll completely stall the housing market. I won't be selling any of mine, even under the present rules.

    Leave a comment:


  • jpkeates
    replied
    Originally posted by DPT57 View Post
    I just heard on the 6pm news that what did make it into the Labour manifesto is a pledge to raise CGT rates to be the same as income tax, ie up to 50%
    Which is very bad news, personally (although I don't think they can win with enough of a majority to deliver this kind of thing).

    On the other hand, before I had any property, I could never understand why income from investment was taxed lower than income from work. It's all income.
    The reason seems to be that richer people have capital and poorer people work and rich people run the country.

    Originally posted by Berlingogirl View Post
    If I put my houses in both mine and for each house, one of my children, will that affect CGT?
    You'd get a higher allowance (one each), assuming that stays the same, and, if the proposal is to tax CGT at the income tax rate it might be lower for some of you.
    But transferring the property might trigger CGT "now".

    If you put them into a company, the gain is income to the company, which is taxed at corporation tax rates (which will be 26% under labour). SO that might be appealing to a higher rate tax payer (but you've still got to get the money out of the company again!).

    Leave a comment:


  • banner257
    replied
    Anyone out there with any views on this matter, if landlords had a private company or tie the property up in some kind of Trust?
    I understand that housing associations can not sell their stock off, and then there is courts.

    Leave a comment:


  • Berlingogirl
    replied
    Originally posted by DPT57 View Post
    I just heard on the 6pm news that what did make it into the Labour manifesto is a pledge to raise CGT rates to be the same as income tax, ie up to 50%
    If I put my houses in both mine and for each house, one of my children, will that affect CGT?

    Leave a comment:


  • Berlingogirl
    replied
    I've got one empty house and will have another soon. I'm not letting until I see which party gets in.

    Leave a comment:


  • DPT57
    replied
    I just heard on the 6pm news that what did make it into the Labour manifesto is a pledge to raise CGT rates to be the same as income tax, ie up to 50%

    Leave a comment:


  • SimonRW
    replied
    We live in 'interesting times'. The politics of all the parties are very populist which means that anything can happen and very quickly.
    What we know for sure (well say 98% likely) is that Section 21 will disappear with the rewriting of the Housing Act. AST's will no longer be legal arrangements and thus all tenancies will become open ended. There will have to be 'outs' for property owners to evict tenants if for instance they can no longer afford to keep the property due to say interest rate rises and rental caps, death of the landlord etc. I think we can assume that no legislation will be retrospective. Also that evictions will likely be possible for anti-social behaviour or abuse, running of illegal activities et al.
    At a National housing forum meeting I attended last week, the anticipation was that 35% of new builds will be bought and rented since the 'Affordable Homes' schemes will not deliver. We are moving to a more European style of housing market. Ironic that!
    Tear this all up if we get a Marxist Government of course as all bets will be off.
    In preparing: I have not renewed my lodger's licences just in case they would be able to buy a proportion of my house, say my ground floor toilet which I am very fond of due to its sunny aspect, I am transferring ownership of the properties to my children who may need somewhere to live and will only allow ASTs on any contracts which renew in the next 6 months. I can do no more since I cannot sell anything at the moment.
    We live in 'interesting times'.

    Leave a comment:


  • jpkeates
    replied
    To reform the private rental sector, we will:

    Help young people into the rental market by establishing a new Help to Rent scheme to provide government-backed tenancy deposit loans for all first-time renters under 30.
    Promote longer tenancies of three years or more with an inflation-linked annual rent increase built in, to give tenants security and limit rent hikes.
    Improve protections against rogue landlords through mandatory licensing.
    Not the Liberal Democrats - other than as part of the 3 year tenancy "idea".

    Leave a comment:


  • jpkeates
    replied
    Private Renters

    More than 11 million people rent from a private landlord and many of them are at the sharp end of the housing crisis. We will take urgent action to protect private renters through rent controls, open-ended tenancies, and new, binding minimum standards.

    Labour will stop runaway rents by capping them with inflation, and give cities powers to cap rents further.

    We will give renters the security they need to make their rented housing a home, with new open-ended tenancies to stop unfair, ‘no fault’ evictions. We will make sure every property is up to scratch with new minimum standards, enforced through nationwide licensing and tougher sanctions for landlords who flout the rules.

    We will fund new renters’ unions in every part of the country – to allow renters to organise and defend their rights.

    We will get rid of the discriminatory rules that require landlords to check people’s immigration status or that allow them to exclude people on housing benefit. We will give councils new powers to regulate short-term lets through companies such as Airbnb.
    So it didn't make the Labour Manifesto.

    Interesting to see if the end of s21 makes it into the other parties manifestos (it was already a Conservative policy under the last government).

    Leave a comment:


  • flexy
    replied
    I'm coming to the conclusion that it doesn't really matter who gets in. One lot may attack the rentals market differently to another, but fundamentally the whole business case is closed to screwed and I'm probably better off jumping before forced to do so (whilst everyone else will be doing the same!)... In reality I think I'm too late already.. The unfortunate effect of this is that I will need to evict my (good) tenant and put them in a position where they'll need to find somewhere to move to, even though the rental availability is reduced significantly. Hang on - isn't this is all what they are trying to stop :-)

    Shame the current Brexit stalemate situation seems to have made the market stagnate, but IF something actually moves forward on this, maybe we'll be able to get it sold off before the next punishment!

    Of course, this could all be a bit of an over-reaction, but... I'd rather loose a bit of an opportunity than I would a lot of my pension!

    Leave a comment:


  • jpkeates
    replied
    Originally posted by Slackjawedyokel View Post
    I’m currently evicting one couple(s21), and am formulating plans to renovate that property but I’m wondering if it’s all worth it, what with the likely removal of s21 and the possible right to buy.
    There comes a point where the number of things that might happen is so high that it becomes next to impossible to actually plan anything.
    But, if I were you, I'd just hang on for a few months.

    Who knows what'll happen?
    My own guess is that it will take the upcoming general election (that will be inconclusive), new leaders of the two major parties as a consequence and another general election to have any sense of where we're going.

    Leave a comment:


  • mariner
    replied
    Mogino

    Banned

    Leave a comment:

Latest Activity

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  • Reply to I'm fuming!
    by Mrs Mug
    Maybe he's OCD. And at the end of the tenancy, you'll get back the cleanest house you've ever seen.
    27-02-2020, 07:43 AM
  • I'm fuming!
    by Berlingogirl
    Just got to vent here!

    I've just got a text from the tenant to say that the (newly decorated and cleaned house) took him a week to clean to a reasonable standard and can I refund him a week's rent!

    That house is spotless!

    They only got the tenancy 10 days ago....
    27-02-2020, 07:34 AM
  • Reply to Capital Gains Tax Change April 2020
    by jpucng62
    This has been in the news for sometime so should not really come as a shock. It is our duty as LLs to remain abreast of the changes in law so make sure you read articles on sites such as this, regularly, to keep up to date.

    If you missed this piece of legislation are you aware of the changes...
    27-02-2020, 07:22 AM
  • Capital Gains Tax Change April 2020
    by TREK
    As from April 6th 2020 any capital gains tax due on property sales has to be paid within 30 days of the sale of the property, only found this out yesterday on the news section on landlord zone.
    26-02-2020, 18:47 PM
  • Reply to Returning Tenants deposit
    by jpucng62
    I think that your agreement is unfair and even if any part of it is lawful, the tenant has fulfilled his part by finding a replacement. If you do not like the proposed lodger that is not his fault.

    I understand it is your home, but do you want to keep a lodger that does not want to be...
    27-02-2020, 07:17 AM
  • Returning Tenants deposit
    by daisydee
    Hi, This is my first time posting so forgive any mistakes I make!

    Our lodger signed a lodger agreement when he moved in 6 months ago. The contract clearly states that the 'tenancy' is for the duration of 12 months and that only us (the landlords) can terminate the agreement by giving him...
    27-02-2020, 02:01 AM
  • Reply to EPC and S21
    by mariner
    SPC will require a rating higher than F after Apr 1.
    Explain to Ts that if they do not vacate by expiry date of the 2nd s21, they will be liable for hearing costs and Bailiff fees.
    27-02-2020, 03:23 AM
  • EPC and S21
    by Slackjawedyokel
    Hi, I’ve been trying to move tenants on from one property, without success, for around four months (two S21 notices because the first, issued by my letting agent, was due to expire between Christmas and new year, and I’m basically soft). The 2 month term of the second s21 expired on 22/2/20. They...
    25-02-2020, 11:38 AM
  • Reply to Agent fee for periodic tenancy?
    by mariner
    No, unless you offer a new Fixed Term Tenancy.
    27-02-2020, 02:52 AM
  • Agent fee for periodic tenancy?
    by leasee123
    Hi,

    I have a simple question for which I hope there is a simple answer. My tenancy agreement (i am the landlord) is close to expiry and the agent seems to think that they are due fees again even if the tenancy agreement moves to a periodic tenancy. I understood that I have to pay if the...
    26-02-2020, 18:35 PM
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