Updating post from Reddit.

197
INFORMATION
Posted by dalehitchy 3 weeks ago
Keir Starmer hints at tax rises on people with income from assets
386
58
Posted by Melodic-Document-112 3 weeks ago

Rents will rise to cover unfortunately 

Reply
33
Posted by Jakes_Snake_ 3 weeks ago

Rental property is an investment which investors will consider on an after tax basis. If after tax the returns reduce then investors will place their assets elsewhere and stop investing.

The supply of rental property available will reduce and until the returns after tax reach some equilibrium via higher rents, the number of rental properties will continue to reduce.

Given the lack of supply it will reach the equilibrium quicker. Everyone’s happy, tax raised is higher paying for public services, after tax returns for landlords are the same, rents are higher, tenants happy knowing somehow they are paying indirect tax for public services. 🥴

Reply
6
Posted by scotorosc 3 weeks ago

Stupid question. What happens to all the properties that they sell / stop investing in?

Reply
8
Posted by HighLevelDuvet 3 weeks ago

They are occupied at a lower density.

Reply
0
Posted by Anon 1 second ago
Reply
4
Posted by Additional-Toe-9012 3 weeks ago

As stated elsewhere, they on average result in lower density housing exacerbates the demand/supply ratio.

We have X million households who ideally want to live in a self-contained unit in desirable locations. We don’t have enough homes to satisfy this. So hence HMOs and high rental prices.

Reply
2
Posted by Jakes_Snake_ 3 weeks ago

They go to immigrants.

Reply
0
Posted by Anon 1 second ago
Reply
1
Posted by duncanmarshall 3 weeks ago

You make landlordism sound like a blight.

Reply
1
Posted by Pugs-r-cool 3 weeks ago

Yeah weird how when you describe something that is a blight, it sounds like a blight.

Reply
17
Posted by dalehitchy 3 weeks ago

Already said this but renters here are adamant it won't

Reply
10
Posted by Melodic-Document-112 3 weeks ago

Wishful thinking without basis 

Reply
2
Posted by IcyAfternoon7859 3 weeks ago

Spain is full of idiots who think that reducing tourism will reduce their rents

Humans frequently believe what they want to believe 

Reply
2
Posted by Disastrous_Yak_1990 3 weeks ago

I think this every time people are like ‘tax Amazon’. What’s going to happen? They lose money? lol. No, we’ll have to pay.

Reply
1
Posted by Floral-Prancer 3 weeks ago

Then the tax will rise, the increase in tax will be worked out after income so it won't be fixed.

Reply
1
Posted by zer0c00l81 3 weeks ago

Like it's not sky high already?

Reply
0
Posted by Negative-Oil-4135 3 weeks ago

I’m so sick of reading this. Landlords increase rent until breaking point already, extra cost on the landlord won’t suddenly increase tenants ability to pay more, you’re ALREADY squeezing the market to breaking point.

Reply
7
Posted by Flying_spanner1 3 weeks ago

You think that the landlord will just absorb the cost? They will not. If all landlord increase the cost slightly it will result in the tenants having no choice but to pay for it.

Reply
0
Posted by Anon 1 second ago
Reply
2
Posted by Ecstatic-Love-9644 3 weeks ago

The data shows historically similar tax rises have done 2 things:

  1. makes more landlords sell up and exit the rental market 

  2. remaining landlords increase rents to cover costs

If tenants can’t pay they sell, which makes 1) happen more. This reduces supply of rental properties (we have a lack of housing so demand already outstrips supply). So any tax/stealth tax on landlords will have a negative effect on their tenants.

The only solution is to increase supply. You can do this by building more homes (successive governments have promised to. It doesn’t happen mainly for bureaucratic reasons not political) or decrease taxes in landlords so more landlords enter the market and reduce rents with more supply.

Labour have promised to spend more on building housing just like the tories before the and the coalition government and the old labour lot. Despite this, rents have consistently outpaced inflation with all governments, and at a higher rate when the taxes landlords pays has increased. The maths just show it always gets passed on to the renters. 

The tax will give more money to the treasury, the net beneficiaries will be home owners who are not landlords. Landlords and tenants will be raising the capital, tenants actually pay these taxes as without them the landlords don’t exist.

Reply
0
Posted by Anon 1 second ago
Reply
22
Posted by Minute_Recording_372 3 weeks ago

I am in the weird position of never having been a higher rate taxpayer or a landlord but someone who has invested every spare penny since I was young to build a decent share portfolio over a decade later. I don't have FU money but I do have a pretty decent fund I still aim to contribute towards.

It feels a bit like this is a "fuck you in particular" budget to me but I don't mind too much. I'm cool with it. People who live off their assets can absolutely afford to pay more tax and as long as others in the same boat are coming on the same ride as I am for the good of the public coffers that's a good thing as far as I'm concerned.

Of course, I don't have an FU money accountant to devise grand tax avoidance plans on my behalf, so chances are people like me will actually be providing this tax money, whilst the institutionally wealthy will make their gains vanish somehow.

Reply
7
Posted by mikolv2 3 weeks ago

It is a fuck you in particular. They promised no tax increases on working people and watered down definitions time and time again. First, it's no taxes on working people but taxes on their employers (which definitely has no impact on workers, right?), then it's change the definition of working people to not include anyone who works but managed to invest their savings (like yourself). There's of course the "freezing tax bands is not increasing taxes" bit, it doesn't matter that you pay more but they can call it whatever they want. We pay through the fucking roof on taxes and none of it seems to be getting reinvested. Wouldn't even mind paying extra tax if it meant access to healthcare was better or roads were better or what have you but it's none of that. It's always the middle class that are the prime target, we have enough money to scrape some extra tax from but not enough to set up tax avoidance schemes. We're an easy target.

Reply
7
Posted by poulan9 3 weeks ago

Anyone not living paycheck to paycheck is in the cross hairs. This will all backfire as landlord costs get passed down to tenants, the same as any business does with costs.

Reply
0
Posted by Anon 1 second ago
Reply
1
Posted by Maetivet 3 weeks ago

The suggestion is that they will use this extra money to do the things you’re saying would justify paying more tax for you.

Reply
1
Posted by mikolv2 3 weeks ago

We'll see, I understood it as covering the "blackhole" i.e. maintaining the current level of service without extra borrowing. I'd love to be proven wrong.

Reply
1
Posted by duncanmarshall 3 weeks ago

Your definition of what a tax on a working person is is so loose that it's basically any tax. You deem it not only a tax anyone who has ever worked might pay, but a tax which might be tangentially passed on to them.

You might as well say someone who lives off their billion pound investment fund but does an hour of work a month is a tax on "working people".

Reply
1
Posted by AgeingChopper 3 weeks ago

They should have reversed the ridiculous N I cuts. Sadly the freezing of thresholds was always on the cards but it's particularly harsh to those on low incomes.

Reply
1
Posted by MightyBoat 3 weeks ago

At the end of the day, if you have enough money in the bank to pay yourself a good salary, chances are you are paying little tax compared to the average person. It's only fair to equalise that. I don't care about the "risk" you took. Risk is different for everyone so it's not a reasonable point of comparison

Assuming the government gets it's shit together politically (which is not guaranteed) the money will be invested in infrastructure to improve the country and make it better to live in. If the additional tax money could fund the NHS such that actually works effectively that would be a great fucking start. We need to start somewhere and equalising the tax burden is a great start IMO

The only people complaining about these taxes are the ones who are so used to low taxes and high profits that any increase is unthinkable to them. Why is everyone so fucking greedy??

Personally thats not going stop me from wanting to make money. I'll still do it and be happy I live in a country that treats employees and asset owners equally when it comes to tax.

We're all getting fucked by taxes. It's not a fuck you "in particular". It's more of a fuck as "AS WELL".

Reply
1
Posted by Kwinza 3 weeks ago

>They promised no tax increases on working people

If you have enough income from assets to feel this new tax you are not a working person.

Reply
8
Posted by [deleted] 3 weeks ago

[deleted]

Reply
5
Posted by Minute_Recording_372 3 weeks ago

Foreign aid is piddly on the budget and is a diplomatic tool that pays for itself at that price. If even the Tories didn't slash it for cash and the much needed PR boost it would have brought with the Reform/EnGlUND crowd you know it's important to leave it alone.

Reply
0
Posted by Anon 1 second ago
Reply
4
Posted by poulan9 3 weeks ago

Or Simply can we have a more lightweight, compact and cost conscious government...this swelling of the state has to be paid by taking money out of people's hands.

Reply
1
Posted by jeananddoolie 3 weeks ago

In 2023 the UK spent 0.58% of total GNI on foreign aid. You’re scared of the wrong spooks buddy. 

Reply
5
Posted by [deleted] 3 weeks ago

[deleted]

Reply
2
Posted by jeananddoolie 3 weeks ago

I guess if you’re a foreigner in need of aid I can. 

Reply
1
Posted by [deleted] 3 weeks ago

[deleted]

Reply
2
Posted by jeananddoolie 3 weeks ago

Correct. That 0.58% I keep reserved for foreigners, just like the exchequer.

Reply
2
Posted by [deleted] 3 weeks ago

[deleted]

Reply
1
Posted by Maetivet 3 weeks ago

Since when is ‘Italian’ a skin colour…?

Reply
1
Posted by spiderhotel 3 weeks ago

In the 1950s, Italians in the UK and USA were discriminated against and probably not benefitting from privileges of whiteness, like Irish people at the same time. There were even special slurs made to other and racism them. Maybe that's what he's talking about. Seems like it isn't that relevant to the situation today though.

Reply
0
Posted by Anon 1 second ago
Reply
0
Posted by U_Score 3 weeks ago

Where have you been for the last 14 years?

Reply
0
Posted by Anon 1 second ago
Reply
0
Posted by Anon 1 second ago
Reply
3
Posted by Emmgel 3 weeks ago

You took responsibility for your own life and are not someone dependent on the state for day to day handouts

You are what Labour hate the most

Reply
1
Posted by Pugs-r-cool 3 weeks ago

No, they hate people who sit on their ass and live off of dividends and rent payments, leeching off of the economy while providing no benefit.

Reply
2
Posted by Eadbutt-Grotslapper 3 weeks ago

We already pay too much tax, they waste so much.

I know this because I have government contracts, when the government buys something they pay 10-50x the market value.

Maybe if they started putting shit out to tender instead of just approved companies that would change.

And how much freedom war have I financed in my fucking life? And for what? Who is more free now than they were 40 years ago? Certainly not me nor the millions of dead. Quite the opposite infact!

Reply
1
Posted by CareerSad8903 3 weeks ago

So are you saying you have maxed out a S&S ISA for 10 years in a row. Presumably you have about £300k. That’s a pretty good amount. The question would be if that’s not all in an ISA why? Presumably you’re safe at the moment?

Reply
1
Posted by Minute_Recording_372 3 weeks ago

No. It's not all in an ISA. It was. But I did a foolish thing in what looked like an emergency and now only a small portion of it is, even though I didn't end up using the money. That's not the government's fault it's true.

Reply
25
Posted by MaxLikesNOODLES 3 weeks ago

Kind of wild. Working hard in a FT time, used all my savings from years to get a BTL as it was the best investment vehicle for me, just trying to build some passive income because wages don't reflect CoL anymore here, and then wham, I'm penalised for it. I'm still working my FT job, so this is my second job technically.

I am both a working person and not a working person at the same time?

EDIT: Wow - last time I come to this subreddit. Assumed it would just be landlords sharing their views, but instead it's just full of hostility (from renters?) and unfounded accusations. Shame.

Reply
26
Posted by geo0rgi 3 weeks ago

It’s just the UK government trying to suck up all the money out there through taxes so they can siphon them to their mates through government projects.

One of the highest tax bases in the world yet nothing’s working properly and they need more and more taxes. Everyone that doesn’t see this is delulu af.

No wonder all the capable people have been moving to the US, UAE, Singapore etc. over the last decade, the government is actively destroying anything productive.

Reply
11
Posted by Firstpoet 3 weeks ago

Son has business in Singapore. 0% capital gains and max 20% income tax.

Reply
9
Posted by geo0rgi 3 weeks ago

Yet one of the countries with the best functioning infrastructure and services in the world. Wonder how is that possible on those taxes while in the UK we have an ever increasing number and quantity of taxes yet the services are getting worse and worse

Reply
10
Posted by Firstpoet 3 weeks ago

GDP per capita is around $89k. UK is about $46k

Very strict visa rules; huge work ethic; citizens guaranteed housing; no government schooling for immigrants or expats; no government healthcare for ex pats/ immigrants.

Such a logical place.

Reply
4
Posted by Tancred1099 3 weeks ago

It’s a city state, it cannot be compared to a country like the UK

Reply
1
Posted by Firstpoet 3 weeks ago

Per capita? No natural resources at all. Infrastructure destroyed by Japs. Multi cultural- Malay/ Chinese/ Indian. Was in a worse situation than UK after WW2. It certainly can be compared and the UK looks even worse in that light.

Reply
0
Posted by Anon 1 second ago
Reply
2
Posted by SnooStrawberries2342 3 weeks ago

And if you applied that logic to the UK, how many foreign workers would we need to bring in?

Reply
2
Posted by DomTopNortherner 3 weeks ago

You're ok with mandatory ethnic quotas and state ownership of all land?

Reply
2
Posted by SnooStrawberries2342 3 weeks ago

What proportion of those living in Singapore are poorly-paid foreign workers?

Is that something you want the UK to emulate? You think that vision can be sold to voters?

Reply
2
Posted by Fat-Alternative-9678 3 weeks ago

It's already there, bud. Walk into a hospital and you will see the underpaid foreign workers holding up the system despite being demonised by Farage et al.

Reply
2
Posted by SnooStrawberries2342 3 weeks ago

They're not underpaid because they're foreign though. Native British workers are poorly paid in the NHS too, don't forget. The only people getting rich off their work are the agencies they too often work for.

In Singapore those workers have fewer rights and less pay *because* they're foreign which is a tricky system to implement, for various reasons. There are also 10%+ more foreign workers as a share of the workforce, which would represent about 3 million extra foreign workers if applied to the UK.

Reply
2
Posted by All-Day-stoner 3 weeks ago

Singapore is a city state. How can you compare it to a country?

Reply
2
Posted by Boboshady 3 weeks ago

Don't they also have massive taxes on luxury items? Like, 100% tax on cars? Massive taxes on alcohol etc?

Reply
1
Posted by Firstpoet 3 weeks ago

Yes. Having a car is hugely expensive.

Reply
1
Posted by jeananddoolie 3 weeks ago

You spelled “to plug the canyon in the budget created by the tories” wrong.

Reply
1
Posted by goodneth 3 weeks ago

I'm sorry who is moving to UAE, I mean apart from misogynists and homophobes? A literal shit hole.

Reply
0
Posted by peterukk 3 weeks ago

Taxation of low- and middle-income earners is actually quite low compared to most European countries, but the tax system is very progressive

Reply
2
Posted by FilthyDogsCunt 3 weeks ago

You literally just called it 'passive income'. 🙄

Reply
10
Posted by MaxLikesNOODLES 3 weeks ago

Yeah it's not really passive, that was a mis-phrasing by me. Passive would be something I didn't put any work into like dividends. I put a lot of work into this property to provide the best possible service for my tenants.

Reply
1
Posted by DomTopNortherner 3 weeks ago

Maybe you should have just got a second job on the tools then.

Reply
0
Posted by Anon 1 second ago
Reply
2
Posted by Cultural_Response858 3 weeks ago

I know it's crackers.

Reply
2
Posted by Neat-Parfait5512 3 weeks ago

In the same position as you. Don’t earn massive amount of passive income as I kept rent the same for a while because I saw it as a long term investment for my daughter to live in later in life… now I’m worried about how I will be stung trying to do righg after working all my life. Don’t have loads of extra cash

Reply
2
Posted by BabiYodaa 3 weeks ago

How dare you work hard and try to invest your money! /s

This sub is begging for people like you to sell up for some reason, so large cooperations can gobble up every last house in the country and triple their rent. Can’t wait to come here and “I told you so” some day.

Reply
1
Posted by Hellohibbs 3 weeks ago

Your working person income will not be taxed. Your non working person income will be taxed. How hard is that to understand? Just because you have a job it doesn’t mean you can avoid accountability elsewhere.

Reply
1
Posted by Tvdevil_ 3 weeks ago

to be fair mate. being a landlord is like being a parking warden, you chose one of the most hated things to do, need to deal with that hate that comes with it.

that said being 1 property landlord isnt a job its very much an investment, which makes it prone to things like this - "as they say can go up aswell as down."

Reply
1
Posted by DomTopNortherner 3 weeks ago

It can't be both a second job and passive income. Definitionally.

Reply
1
Posted by AlanWardrobe 3 weeks ago

>get a BTL as it was the best investment vehicle for me

That's nice - for the family living there it's a home and a stable future, but for you it's a way to make money.

Reply
0
Posted by -dEbAsEr 3 weeks ago

I genuinely can’t wrap my mind around calling it “passive income,” and getting aggrieved like this.

You’re fully aware that you’re getting hundreds of hard earned £ a month from someone, for doing nothing. With essentially zero risk. And yet still you manage to make yourself the victim.

The less there’s such a thing as free money for people who already have money, the better. Minimal risk “passive income” is the definition of parasitism.

Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
0
Posted by Anon 1 second ago
Reply
21
Posted by Odnnnnn 3 weeks ago

Say bye bye to private landlords and hello to higher rent costs and houses being bought up by soulless companies

Reply
11
Posted by TheFuzzball 3 weeks ago

Having both rented and looked at buying a previously HMO-rented house... private landlords are every bit as soulless as a big company.

The main difference if it's mostly big companies it'll be easier to hold them to account.

Reply
4
Posted by Thaiaaron 3 weeks ago

I'm a landlord and im not souless, I love to come round in the morning and let myself in their house and make them a coffee in bed. I fill their fridge with milk when it gets low and I make sure their TV works properly by watching it for an hour every day and testing the sofa comfort.

Reply
2
Posted by Inevitable-Hat-1576 3 weeks ago

Good guy landlord

Reply
2
Posted by Thaiaaron 3 weeks ago

They often get startled when I walk into their bedrooms with a hot cup of coffee and gently stroke their face at 6am, but regardless of their job or when their lectures are, I think it's a great time to be woken up to sieze the day.

Reply
1
Posted by Active78 3 weeks ago

Or price gouge.. if a new development is 90% of that postcodes property they can charge what they like

Reply
4
Posted by TheFuzzball 3 weeks ago

Yeah! Private landlords would never price gouge!

Reply
7
Posted by Shot_Principle4939 3 weeks ago

The dint have the means to buy up literally everything like BlackRock and co

Reply
5
Posted by TheFuzzball 3 weeks ago

I'm mostly being fececious, I do realise which subreddit this is.

If I'm being intellectually honest I do think a few big companies owning all of the rental stock would create problems.

Reply
4
Posted by Shot_Principle4939 3 weeks ago

I actually also think it's "the goal"

Reply
0
Posted by Anon 1 second ago
Reply
3
Posted by Active78 3 weeks ago

My point is you can take rent increases to a tribunal and rents can't go higher than normal range in the area, if you own the whole area you set the norm.

Reply
2
Posted by tjvs2001 3 weeks ago

Lol

Reply
2
Posted by Spiced_lettuce 3 weeks ago

They really need to introduce legislation to prevent this from happening

Reply
1
Posted by duncanmarshall 3 weeks ago

Soulless companies are somehow not private landlords?

Reply
0
Posted by Myssed 3 weeks ago

Isn't a soulless company a private landlord?

Reply
15
Posted by Wise_Outside_6991 3 weeks ago

Labour, the party for the absolute poorest workers only. Not for anyone who scrimps and saves for years and invests their money to try to help improve their family life. Shameless corrupt gift-taking politician.

Reply
2
Posted by ParkingMachine3534 3 weeks ago

The poorest workers are going to get shafted by Labour too.

Labour are for the white collar and public sector.

Reply
0
Posted by Anon 1 second ago
Reply
15
Posted by Randomn355 3 weeks ago

Interesting that maintenance, paperwork and being on call 24 hours a day isn't consider working.

It's a very... odd definition.

Reply
15
Posted by Cultural_Response858 3 weeks ago

I remember the weeks of 'not working' I recently enjoyed between tenancies on one of our properties - fixing holes in doors, putting fences back up, painting, hedge trimming, trips to the tip, trips to B&Q, co-ordinating plumbers/electricians/carpet fitters. It obviously is 'work' but not just as narrowly defined by the current government.

Reply
9
Posted by SirLostit 3 weeks ago

I’ve just spent 14 months rebuilding a property (by myself). New floors, kitchens bathrooms, plumbing, new boiler and rads, new electrics, consumer unit, and painted throughout. Got someone to render the outside and plaster a few walls. Plus getting all the safety checks done.

I can honestly say it didn’t feel much like ‘not working’

Reply
0
Posted by Anon 1 second ago
Reply
5
Posted by Randomn355 3 weeks ago

Yeh, given that we can't charge for our time (fine, I get the problems with that), suggesting that it's not work and taxing it higher as a result though?

Just malicious really haha

Reply
0
Posted by Hellohibbs 3 weeks ago

I own a house and I fixed my garden fence the other day can the government give me some free money please

Reply
0
Posted by Anon 1 second ago
Reply
3
Posted by Manoj109 3 weeks ago

I know right? Maybe we should tax our MPs more because I don't consider what they do as work .

Reply
0
Posted by iwentouttogetfags 3 weeks ago

Mps represent you and their constituents. You have every right to write to your mp about anything and everything you dont like. 

That's their job.  While mps do indeed own properties they rent out, they're just as bad

Reply
1
Posted by AgentOrange131313 3 weeks ago

I think the governments angle is about what value is being added to the economy, that send to be the underlying goal with these decisions

Reply
2
Posted by Randomn355 3 weeks ago

I guess mobility and flexibility adds no value, then, on that basis.

Want to move away for uni? Move closer to work? Move to somewhere you'll get a better job? Move closer to places that offer what you want? Moving somewhere with flexibility so you confirm you like the area before committing?

Are these all worth nothing, as your point suggests? It's difficult, verging on impossible for some of these if you have to buy.

Reply
1
Posted by one_pump_chimp 3 weeks ago

They are the costs of home ownership. Everybody has to do this if they own a property regardless of if they rent it out for a passive income

Reply
1
Posted by Randomn355 3 weeks ago

There's costs to having a kitchen.

But notice how restaurants maintaining theirs counts as work. Why shouldn't the same apply?

It's already well known that even within the industry of renting assets, tenancies are treated far harsher.

Reply
1
Posted by vladimirandestragon 3 weeks ago

If it is work then presumably you should pay national insurance contributions on your income from doing it from doing it at the same rate as employment income?

Reply
1
Posted by Randomn355 3 weeks ago

Or the tax structure is simplified to account for it.

Reply
1
Posted by vladimirandestragon 3 weeks ago

So you think your tax on rental property income shouldn’t increase because it’s income from working but also that it shouldn’t be taxed like income from working? Interesting position.

Reply
1
Posted by Randomn355 3 weeks ago

I think it's a symptom of shortages in the market.

The same way the car industry, or graphics cards weren't taxed more when semi conductors were hard to get hold of.

Instead, society recognised we need to solve the root issue.

What I think is we should do that.

I think that it's different to a pure labour pursuit, and it should ultimately be treated the same as any other company. Instead there is currently a punitive system designed to introduce additional admin burdens and entry costs for no benefit.

Reply
0
Posted by NoOneExpectsDaCheese 3 weeks ago

Being on call 24 hours a day? You're having a laugh right? I've rented from many different landlords, and at best they'll come within the week. Most likely ignore you, and try and shaft you on the deposit for their own benefit.

You are not on call when you have to reply to a text saying "I'll come on x day". Grow up.

Reply
2
Posted by Randomn355 3 weeks ago

Sounds like you don't know the regs on getting stuff fixed.

Might benefit you to understand tenant rights before complaining about a lack of tenant rights.

Reply
0
Posted by Anon 1 second ago
Reply
14
Posted by ReasonableWill4028 3 weeks ago

All this does is increase rent prices on tenants, nothing more.

Reply
3
Posted by No-Extent8143 3 weeks ago

So are you saying we should lower tax for landlords?

Reply
2
Posted by Floral-Prancer 3 weeks ago

Then the tax will rise with that.

Reply
3
Posted by Bertish1080 3 weeks ago

Exactly so it’s lose lose for the landlords, most will probably sell up now and put the money into other investments.

Reply
1
Posted by Floral-Prancer 3 weeks ago

Which is what the government want, they want people to be home owners not tenants and landlords, so much money is lost through housing benefit from the cost of housing not being reflective of the public income

Reply
2
Posted by Bertish1080 3 weeks ago

Another way for this government to save money after taxing up to the hilt and then some more.

Reply
1
Posted by Floral-Prancer 3 weeks ago

What

Reply
1
Posted by TheBrazenBeast 3 weeks ago

And God forbid people who need a first home, will now have a better chance of getting one........

Reply
0
Posted by Anon 1 second ago
Reply
9
Posted by [deleted] 3 weeks ago

[deleted]

Reply
1
Posted by JLaws23 3 weeks ago

Politicians are so full of shit it makes me sick.

Reply
7
Posted by Cultural_Response858 3 weeks ago

Well everyone saw this coming a mile off.

Reply
7
Posted by PoutineRoutine46 3 weeks ago

its the 'they arent working people' thing that we didnt see.

Reply
13
Posted by Cultural_Response858 3 weeks ago

It's ingrained in the Labour party. Unless you work 40 years for the council or are a nurse you are a horrible capitalist

Reply
8
Posted by PoutineRoutine46 3 weeks ago

Batten down the hatches for 4 years.

They are transitory.

I doubt they'll even last 18 months tbh.

Reply
11
Posted by Prize_Mycologist1870 3 weeks ago

If the Tories even begin to look half decent, Labour won't be doing another term. Look how badly the Tories had to fuck it before Labour eventually got in recently. Wow.

Reply
1
Posted by TimeAndDetail 3 weeks ago

Comical if not so tragic

Reply
0
Posted by Ok_Palpitation_1918 3 weeks ago

You mean reality?

Reply
2
Posted by PoutineRoutine46 3 weeks ago

No.

Reply
4
Posted by robbberry 3 weeks ago

In all fairness, who here actually thinks they’re “working class” as a landlord?

Reply
3
Posted by cleanutility 3 weeks ago

My best mate bought his flat when he was 20. Paid for the whole thing. Then bought a house with his other half. Kept hold of his flat as “part of my own pension” he is a plumber. He rents that flat out where does he fit.

Reply
2
Posted by Thetallerestpaul 3 weeks ago

He started out working class, and he's earnt his way out of that with good choices, and hard work.

Reply
2
Posted by cleanutility 3 weeks ago

He’s still working class. We all take the piss out of him calling him a property mogul but he basically came from a council house in a really shit area and bought a flat in the same area. I think some Landlords have a bad rep. Don’t see why someone like him should get shit. What else is he supposed to do other than sell me the flat for 75% under market value.

Reply
1
Posted by Thetallerestpaul 3 weeks ago

I don't think he should get shit, unless he's a shitty landlord, which I'd hope he's not given how you've described how he came up. But if he's got more than one property I don't think he's working class in the way Labour were talking about it. Really, owning your house and doing skilled, well paid work like a plumbing is middle class, let alone also being a landlord, based on some definitions.

Reply
2
Posted by FilthyDogsCunt 3 weeks ago

Incoming cope from idiot landlords.

Edit - lol, permanently banned for this, must have touched a nerve with the mods.

Reply
3
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
4
Posted by maybeex 3 weeks ago

Lowering rents will only happen if they increase density, raising taxes will only raise the cost of doing business. A better tax would be to close the loopholes in the system wo rich guys can pay peanuts, what about a worldwide income tax to citizens? Lots of british people keep their money abroad?

Reply
3
Posted by OGSachin 3 weeks ago

Anyone whose renting should be fucking petrified by this.

Reply
2
Posted by No-Extent8143 3 weeks ago

Are you saying we should lower taxes for landlords? What level of taxation would be good in your opinion?

Reply
4
Posted by mikolv2 3 weeks ago

Tax profits, not revenue... like every other source of income ever. That would be a good level of taxation. They're doing everything to address the housing crisis from the wrong side, people need somewhere to live and until they've built enough housing for everyone, they won't ease the problem by taxing landlords more.

Reply
0
Posted by Anon 1 second ago
Reply
0
Posted by Anon 1 second ago
Reply
0
Posted by Anon 1 second ago
Reply
3
Posted by Shot_Principle4939 3 weeks ago

Pension companies and BlackRock are setting these policies.

Reply
3
Posted by Intelligent-Bee-839 3 weeks ago

It doesn’t bother me tbh, but if it’s anything to do with this government, you know it’s going to be a fuck up.

Reply
3
Posted by Inve5t0r 3 weeks ago

Why are trusts not targeted, it’s always the middle class who pay the burden?

Reply
3
Posted by iwasmakavelli1 3 weeks ago

Cannot wait to hoover up all the properties into my LTD company at a discount 💪

Reply
3
Posted by Mclarenrob2 3 weeks ago

Some of us worked fucking hard to save up over £25,000 for the very reason Kier Twatface Starmer mentioned, incase anything happens. Pure evil. Worse than the tories.

Reply
3
Posted by theazzazzo 3 weeks ago

It's such a sad time for hardworking landlords. just so sad. Very sad

Reply
3
Posted by BabiYodaa 3 weeks ago

It’s all fun and games until landlords are forced to increase rent further.. the government is already 95% to blame for sky high prices from rent to tomatoes! Now they will fuck us all even more.

Tax the super rich, tax the cooperations! And for fucksake, STOP wasting all our tax money with shit decisions.

Reply
3
Posted by EmphaticallyYes 3 weeks ago

My rent will go straight up immediately after it’s announced.

Reply
3
Posted by vanillaxbean1 3 weeks ago

Will this put off Buy to Lets? There's so much newbuild properties near where I live. I first thought, fantastic, more property available for people to buy their own homes and at reasonable/affordable prices. However when I request more info, they're all buy to Let's unless you have 40% (sometimes even more or all) of the deposit, making it impossible for the average person to buy. A 1 bed flat listed for 130k, but you need a 60k deposit if you want to live in it yourself, if you buy to let you only need 10% of the deposit.... It's such a shame... I don't understand the reason to alienate actual home buyers.

Reply
2
Posted by phpadam 3 weeks ago

This is very-wrong. First Time Buyers have access to 0-5% deposits, landlords have 1 lender offering mortgages with 15% deposit but most lenders require a minimum of 20% deposit.

You should talk to a mortgage adviser about this, as i have no idea how you have got this so wrong.

Reply
4
Posted by Shot_Annual_4330 3 weeks ago

CGT on property sales remains the same. What's the big deal? From a uklandlord perspective this will only hit landlords if it also affects dividends tax so will hit people who use Ltd companies as a tax dodge.

Reply
3
Posted by Ill_Mastodon8324 3 weeks ago

Yep! You have to assume that people aren't reading the article..

Reply
2
Posted by Ill_Mastodon8324 3 weeks ago

The article explicitly says no plans to raise cgt on sales of property...

Reply
2
Posted by fjr_1300 3 weeks ago

What a twat

Reply
2
Posted by Neat-Parfait5512 3 weeks ago

What are landlords looking to do? Retain property and hike up prices or sell?

Reply
2
Posted by 2222_human 3 weeks ago

Horrible news for renters

Reply
2
Posted by Senior-Book-8690 3 weeks ago

I never voted for this spinless worm of a prime minister. I've used these words so i don't have to swear at him.

He had gone back on most things he promised not to do.

He is a mean tory in disguise. What has become of the Labour party? This man is a joke

Reply
1
Posted by ConsidereItHuge 3 weeks ago

Oh no some landlords get taxed. The horror.

If you don't like it don't join an industry where corporations are making life hell for millions of people.

Reply
2
Posted by Senior-Book-8690 3 weeks ago

Your right it's corporations who might be making hell of a lot, but when you have a small one single landlord, it really isn't good.

Reply
1
Posted by ConsidereItHuge 3 weeks ago

The industry is what it is. Those are the risks of being a landlord, there are plenty of rewards to offset it.

Reply
2
Posted by Senior-Book-8690 3 weeks ago

The number of i know who wsnt to leave due to difficult tennants is unreal they just want to sell and leave. And these are not slumland lords either

Reply
1
Posted by ConsidereItHuge 3 weeks ago

They should sell up if it's a problem.

Reply
2
Posted by Senior-Book-8690 3 weeks ago

Yes thats what alot are doing. I know of someone whose got a very bad tennant, drying clothes inside, causing damp from condensation throughout the whole property.
The council dont want the tennants as they dont have any council houses to house people.

Reply
1
Posted by ConsidereItHuge 3 weeks ago

Everyone dries clothes inside, it's nearly UK winter.

Reply
2
Posted by Senior-Book-8690 3 weeks ago

Drying clothes inside, on radiators, can cause condensation. You need dehumidifier or dry them in dryer.

Reply
1
Posted by ConsidereItHuge 3 weeks ago

Or crack the window.

Reply
1
Posted by scotorosc 3 weeks ago

"Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains — all the while the landlord sits still. Every one of those improvements is affected by the labor and cost of other people and the taxpayers. To not one of these improvements does the land monopolist contribute, and yet, by every one of them the value of his land is enhanced. He renders no service to the community, he contributes nothing to the general welfare, he contributes nothing to the process from which his own enrichment is derived…The unearned increment on the land is reaped by the land monopolist in exact proportion, not to the service, but to the disservice done." - Winston Churchill

Reply
2
Posted by [deleted] 3 weeks ago

[deleted]

Reply
1
Posted by scotorosc 3 weeks ago

Refute the point, not the person.

Reply
1
Posted by Ok_Palpitation_1918 3 weeks ago

Finally. We start using money to produce and innovate rather than paying these fucking cunts

Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
1
Posted by SniffMyBotHole 3 weeks ago

Good. You shouldn't be making the amount of profit you do on owning a property to rent out, greedy shites.

Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
1
Posted by Taca-F 3 weeks ago

Fuck me, the level of desperation from the greedy bastards on this thread is something else.

Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
1
Posted by ComprehensiveAd8815 3 weeks ago

I’m enjoying the schadenfreude.

Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
1
Posted by MrVillainsDayOff 3 weeks ago

Good. Landleeches are nothing but welfare queens who leech from the hard work of the tenant whilst never fixing any issues with the property whilst simultaneously being more than happy to raise rent every year.

The only issue will be that the money for nothing crowd (landlords), will raise rent. Which is why we need rental controls in place.

Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
2
Posted by Reevar85 3 weeks ago

I'd like to see where the taxes rise before making a judgement. If ISAs are kept but reduced, I do not see a problem. No normal working person can come close to maxing out yearly ISA contributions.

I think what is needed and this government needs to start working with other governments towards is the taxation of loans taken against assets to avoid income tax. A taxation of drawings from trusts in tax havens ( want to keep cash in the Carmen's that's fine, but to spend it that is a tax to bring th cash in the country) or go an live in your tax haven.

Reply
1
Posted by Mysterious-Arm9594 3 weeks ago

Why should rent seeking be taxed less than work?

Reply
1
Posted by spaceXhardmode 3 weeks ago

Thankfully we are all so broke in this country it will barely effect anyone

Reply
1
Posted by Whiterose1995 3 weeks ago

Won’t somebody please think of the poor landlords

Reply
1
Posted by Whiterose1995 3 weeks ago
Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
1
Posted by 123shorer 3 weeks ago

Good

Reply
1
Posted by Satoshiman256 3 weeks ago

Bunch of leeches.. Makes me sick.

Reply
-3
Posted by _shedlife 3 weeks ago

Keep squeezing! I personally want to see a larger landlord exit.

Reply
2
Posted by ed_cnc 3 weeks ago

Why? - There will still be the same number of properties available for people to live in

If every landlord sold up today, people still wont be able to find properties to live in

Reply
2
Posted by _shedlife 3 weeks ago

Because rents will go up as landlords exit. And I'm a non resident landlord with an exceptionally low LTV.

Reply
1
Posted by Unkown78787 3 weeks ago

Probably going to bring the back the investment income surcharge 😂

Reply
0
Posted by APx_35 3 weeks ago

Not once seen a decent private house hoarder so that's a very welcome change.

At least it allows this country to move on and drive some real reform in regards to renters rights.

If he can add a boomer tax as well for those house hoarders selling now that would be the cherry on top.

Reply
1
Posted by uklandlords-ModTeam 3 weeks ago

This is a community for Landlords. You can be anti-landlord in other places like /r/HousingUK/

Reply
0
Posted by scotorosc 3 weeks ago

"[Landlords] are the only one of the three orders whose revenue costs them neither labour nor care, but comes to them, as it were, of its own accord, and independent of any plan or project of their own. That indolence, which is the natural effect of the ease and security of their situation, renders them too often, not only ignorant, but incapable of that application of mind."

Adam Smith in The Wealth of Nations.

Reply
0
Posted by dixieglitterwick 3 weeks ago

YES!!!!!!!

Reply
0
Posted by RandyJerkins 3 weeks ago

Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

Reply
0
Posted by Anon 1 second ago
Reply