Updating post from Reddit.
Rachel Reeves is under pressure from Labour MPs to increase taxes on landlords. Experts suggest three potential measures: charging National Insurance on rental income, creating a separate tax band for landlords, or imposing VAT on residential lettings. Critics warn these changes could discourage investment and worsen the housing crisis.
>Labour MPs are said to be keen on increasing the amount landlords pay on rental income. Tax experts told The Telegraph that Ms Reeves could force landlords to pay National Insurance on their rental income, introduce a separate tax band for rental income or levy VAT on residential property lettings.
> But Chris Norris, of the National Residential Landlords Association (NRLA), pointed out that landlords already paid income tax on rental income. He warned further taxes would “increase complexity, dissuade investment and risk deepening the housing crisis”. He added: “Rumours concerning the imposition of a ‘rental income tax’ are misleading as they suggest that such income is not already taxed just like all other personal and business income.”
> Mr Norris, chief policy officer at the NRLA, said: “Since 2015, landlords have faced a series of punitive tax and regulatory changes, such as the removal of mortgage interest relief and the introduction and subsequent hiking of the stamp duty levy on additional properties. “These changes have significantly impacted investment in the private rental sector, with many landlords leaving the sector and reducing their portfolios due to financial pressure and a lack of confidence in future returns. “With demand for rented homes at record highs and supply failing to keep up, policies that disincentivise investment will inevitably hurt tenants the most, leading to higher rents and reduced choice.”
Outcome: Rent goes up.
It’s already high, more people will default
Yeah the issue seems to be the underlying house price, ergo whoever has a mortgage in the property has to charge high rents to make a return.
Decades of housing being used as a speculative investment/retirement fund continues to extract crippling amounts of money from working people.
Fiddling around the edges with taxes would appear to do absolutely nothing to solve the real problem.
Yep and my insurance has gone up.
You can put the rent up, but if it goes wrong they can not pay you rent for 12 months and nothing much a landlord can do, other than go though the long drawn out section 8 process.
The people upstairs from me have not paid rent since last September - a big brand new 2 bed in London.
So it’s not always as easy as up the rent, the law is not with the landlord.
This is why I wish they'd actually focus on protections for tenants AND protections for landlords that help reduce the cost of rentals while balancing tenants being able to have a roof over their heads.
Tenants falling behind on their rent a little should be allowed & protected
Tenants refusing to pay for years should not be protected.
If they allowed faster eviction process for obvious cases where the tenants are just abusing the system, then insurance would decrease, rental properties would return to proper payers quicker and rents can go down.
Of course none of this will work in a vacuum. You still need massive house building.
I very much like this idea, give landlords incentives to drive lower rents.
Yeah it's just another piece of legislation for politicians to appear to be trying to do something knowing that it won't fix anything.
They'll do slightly more tax, landlords will raise rent to offset it.
More risk of non payment: rent goes up.
They’re enough people to replace the ones who can’t pay
Until Labour gets the finger out their backside and cuts immigration AND ramps up house building
Yes, then more houses are free for the councils to forcibly purchase/rent and stick migrants in.
they want that
What they (socialists) actually want is to force private landlords out of the rental market.
If landlords are selling and no one who who is currently renting can afford to buy, who buys the houses? Big investment companies, who become the new private landlords. These companies like Blackrock will never sell these assets once they’ve acquired them.
Why do “they” want this? Because if you do not own your home, and all the housing stock is owned by companies who won’t sell them it means you have no choice other than to pay rent for your whole life.
Why is this bad? Because if you have to pay rent, how are you going to be able to afford to retire?
And that’s what they want! They don’t want us to be able to retire. Because if we retire we become burdens on the economy rather than contributors to the economy. We have ageing populations in the West now, meaning that the proportion of pensioners to working age people is increasing so there are fewer people paying NI to fund retired people’s pensions. And unfortunately, their solution is to prevent us from being able to retire.
>Big investment companies, who become the new private landlords. These companies like Blackrock will never sell these assets once they’ve acquired them.
What you're describing here is quite literally the opposite of socialism
I couldnt tell if this was satire or not tbh
I believe they're suggesting socialists will be beaten by capitalists because the large investment firms will buy up housing stock when socialists make it untenable for landlords with smaller portfolios to keep hold of their's.
I can tell you have a kind soul because you're trying to find logic in a nonsensical comment
Socialism is when capitalism...
It's called managerial socialism and we are already in it.
>Big investment companies
The same investment companies (like BlackRock) who will buy the farmland when the family farms are pushed out of business.
The UK's private assets are going to be forcibly sold to global megacorps.
By a Labour government.
Let that sink in.
The same investment companies that hold regular meetings with Keith and Rachel from customer services, and direct their policy to enable it.
>What they (socialists) actually want is to force private landlords out of the rental market.
Who exactly are the socialists here? Because it's definitely not Starmer and Reeves.
To be honest a lot of the general public are aware of this it’s just depressing because nothing will change
Half my building is owned by one of these companies, and another building across the road
Yep, I give it a couple of decades before everything is owned by elderly people or these investment companies.
And then when the elderly people pass away, their descendants won’t be able to pay the IHT…. So the remaining privately owned homes will also be bought up by the corporations.
Do you really think that there is really someone who came up with a plan like that? Like sat down and said… “ok, if people retire, they become burden on the society, and we can’t allow that to happen, because we care about IT, so let’s increase rental costs by raising extra taxes on the landlords”
If yes, then my questions are - who are these people, why do they care about how much burden there is on society, and why are they so thick and cruel at the same time to think about it so one-dimensionally to come up with such a weird scheme to keep people from retirement by forcing the to rent by rescuing rental stock? Just sounds too delulu.
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>Why is this bad? Because if you have to pay rent, how are you going to be able to afford to retire?
I often see this said, but Housing Benefit exists.
Tbf this isn’t socialism it’s neoliberal policies at play .. Too many assets in the hands of the rich have driven up prices.
I saw a stat on this topic but not sure it is correct.
In short back in 50 / 60s there was 5.5 adult / retiree. That number is now 2.2. There is a big issue around this matter.
Nothing to do with rentals etc but still.
Update: The point I wanted to make again nothing to do with the topic is that I expect the pension is going to be not enough, and as one person said in the video I watched, means tested which is crazy if you think about it. the government have paid for everything by burning through the money we pay in taxes on current pensioners.
Second point is that I expect the NHS will be just there to keep the light on (Life and death) for anything else we going to have a American system with private health care.
This is the definition of overthinking it. Rachel Reeves wants to balance the books and has identified landlords as a group that is unpopular among labour voters, so she's raising taxes on them.
Analysis isn’t overthinking. Every policy has knock on effects, whether intended or intended.
The rental bill doesnt include max rent increase percentage?
A maximum annual rent increase will just mean that landlords like myself (and most private landlords) that don't raise their tents often or at all will start increasing their tents by the maximum amount every year so as not to be caught out. This is what happens every time price caps are implemented.
And get new tenants in every couple of years
Sell all your houses
The one that isnt law yet?
And it doesnt matter if the rent increases are capped. LL's will just max those increases every year until the property is making the required margins.
I haven't increased my rent for 3 years, a levy of VAT (20% i assume) or any additional taxes would be the final straw for me and i would hike the rent as much as i could to prevent making even more of a loss than i already do.
Typical
i am just wondering how landlord bill the tenant with VAT?
By increasing the rent?
and the tenant pay the rent with VAT?!?! so i do not know how it works
Or outcome: house prices go down as landlords stop hoarding and sell up.
Sell up.
It can only go up so far before people stop renting, or just move to a lower tier of renting (like multiple occupancy etc). The landlords will have to absorb some of it. If there is a mass selloff of rental properties it should help house prices a bit, but ultimately they is more of a lack of housing space than the rental market causing issues.
Increase taxes by £100? Landlords will increase rents by £100.
Which m'ron in Labour came up with this idea???
Rachel from accounts
I’ll have to put rent up by £125 to cover the tax on the increase and the NI
Only if the market allows it. If people don’t rent with your inflated price you’ll have an empty property costing you more.
Sorry mate, it’s a tongue in cheek comment, though in all seriousness the problem is there is more demand than supply so people will pay more …
I’ve managed to never evicted in more than 10 years of being a landlord with multiple properties and I’ve only put up rent for existing tenants 3 times.
Rents are sky rocketing through lack of supply at present… I’m being reminded nearly weekly by our estate agent that they have tenants waiting and I could evict my current tenants in one property and put the rent up £200.
Pushing more landlords out through increased taxes or financial penalties won’t bring rental prices down and it doesn’t seem to be making a significant difference to house prices, that’s driven more by interest rates…
With the government bringing in nearly a million people every year the market will allow it.
A real party of the working classes would be stopping immigration.
Facts!
I don't know if you keep up with the world around you, but Labour just announced some of the tightest immigration restrictions in many decades 👍
So did the Conservatives, several times. Talk is cheap
Unfortunately there will be people who'd rent with them. It's not like only one landlord will raise prices. If all rents in my area go up by 100s£ I might as well just take the loss, as having a roof over your head isn't really a choice. And then even if there's someone cheaper - you need to account for moving costs, deposits etc. It isn't as simple as, oh this place is 100£ cheaper let me go there.
"If people don't rent."
My friend, this is not so easy. You need a place to sleep.
The tax is ad-valorum i.e, it applies across the market, and thus the rise in prices should be expected to be almost entirely passed on to the consumer given accommodation is an inelastic good.
Labour don't care that renters will feel the pain from this policy.
They care that they get a headline about "labour taxing landlords", which will satisfy the more neurotic elements of their base.
Probably the landlords of Labour
Hey renters, guess what this means for you?
That’s right, even higher rents!
Hey renters, tomorrow is Saturday, you know what that means?
That's right, even higher rents.
My landlord already wants to 'review' the rent this year. I wonder if it will go down or up this time
Everything means higher rents, it only ever gets worse for us while you lot get richer. Congrats.
Hey landlords, remember why we had laws put in place to stop this? So you won;t get lynched
A downside and consequence of the complexity of the UK tax system around how you are taxed on your income based on (1) its source - employment, dividends, capital gains, other investments etc., and (2) your age (people of pension age don't pay NI - would this exemption still apply?).
A simplified tax system where all income was taxed the same irrespective of its source would render discussions such as in the article irrelevant, but vested interested will argue against that.
This.
Abolish employee's NI and merge it into income tax.
Abolish dividend tax and merge it into income tax.
Lower income tax and/or increase state pension if we want to make this revenue neutral.
Feel like they are taking all the exact opposite measures to actually helping tenants. 🤦♂️
Anything but building homes.
Should just seize all the second houses tbh
If you push landlords out of the market by making them pay more, you end up with less rentals. Because owner occupiers live less densely than renters meaning demand down less than supply goes down, so in effect demand goes up.
Demand goes up, rent goes up.
Landlord-ism isn’t “The Problem” it’s a side effect of the problem. It’s like getting a headache due to a brain tumor and thinking you can solve it with paracetamol. Yay I can’t feel the headache anymore.
Owners live less densely than renters doesn’t imply that they live less densely simply because they are owners. I would suggest it’s far more likely that it’s just because owners are richer than renters and can afford more space.
Yes, exactly. When you make changes that push landlords out of the market, the homes then go to the “next richest”.
In effect you agree with me. All this is doing is making things harder for the poorer people that will still not be able to afford to buy but have even more competition to rent.
as an economist I don't agree. landlords selling will flood the market with supply and push property prices down. That is already happening where I have property due to a mix of airbnb and pre-stampduty rises.
It doesn't help those that are not ready to buy or don't want to though, but if for those that do buy, they will no longer be renters, and also will slow down the rate of rental turnover, which could slow rises.
However the reality is that unless they control large corporate landlords then they will just buy everything up and push up prices themselves. It's not clear how they deal with overseas landlords either. Not tackling those will be far more damaging than allowing UK based smaller landlords from renting out property.
Care to share the evidence that the landlords forced out the past decade or so have pushed property prices down?
As I pointed out in my post, owner occupiers live less densely than renters. Which goes against your second line.
Large corporate landlords aren’t buying up properties from Rightmove, they are almost exclusively funding new builds.
Well I'm talking about Bath, I don't have statistics for all cities and it's likely to vary.
But Bath has had a tonne of airbnbs that are selling up and other rentals going on the market. It's classic rental apartment size. For my apartment there were over 100 similar properties flooding the market within 1/2 mile radius.
The agents and my own manual research saw the values go down, places staying on way longer. Apparently the only places getting bought are mostly by all-cash investors looking for cheap desperate pickings.
ETA. Just re-read. This is not over the past decade, but more recently. Definitely since covid but also the tax declarations with airbnb apparently affected it - a lot of airbnbs going up.
Airbnb is a bit of a different story, that’s great news. Airbnbs are a scourge on our property market and the quicker they are converted back from providing 0 housing to providing actual housing is great.
Yes I 100% agree, even though it hits me.
I'm based in Barcelona and airbnb (& co) are an invasive parasite destroying the city.
FFS could they come up with any more ideas to push rent up.
Just build lots of houses, millions.
Don't add more tax to rent, do not pay above rental prices to house migrants, do not mess up the economy and push up interest rates.
Or stop mass immigration.
Just apply for her job already, please.
That's fine, I'll just raise the rent on my tenant. I don't want to do that but I'm not going to lose money on my investment. I won't suffer, but those who rent will.
My rental income is already a very small margin Vs tax & mortgage. I'm not going to pay for someone else to live in my house. Worst case I'll sell up and then the tenant loses their home to a FTB or gets rinsed by some soulless agency.
I know Reddit doesn't like Landlords, but forcing private landlords (real people) out of the market isn't a good thing. These rules will not apply to rental properties owned by companies.
You think it's bad now, can you imagine a world where the only rental options people have is to rent from dedicated rental companies owned by banks, pension funds or private equity...
Want to complain, speak to the bots or face a £25 admin fee
Late on Payments by a day, £25 late payment charge and a mark on your credit
Corporations are faceless they don't have feelings or compassion, they will charge accordingly and punish you if you don't comply.
And off shore profits so the country won’t even receive any tax from it
Interesting strategy. The government obviously think rent is too low. Let's see how it plays out.
The real solution is to just consolidate NI into income tax.
The UK would be far better off if we abolished ENIC, NI, and had a single rate of Income Tax.
Everything gets passed on to tenants. Have they thought about Taxing tenants instead.
Cut out the middle man. There’s a saving already. Thumbs up here 😄
Just abolish NI and the Personal Allowance.
Make it 25% basic rate and a 45% higher rate after 60,000.
Problem solved.
Surely this will only affect landlords that haven't put there companies in a LTD company?
yep the "little guys" who'll then have to sell up to Lloyds or blackrock
Shh.. don't give them ideas.
Labour should just legalise cannabis as a new source of revenue.
These piddling changes to already beleaguered industries is short sighted, ineffective and a waste of time.
Exactly. They're trying to increase tax on already taxed sources. That's not going to change anything.
Its not true - its a story made up by The Telegraph
There must be no Trans people they can bash today
charge VAT on rental? so the landlord also charge the tenant? whats their logic?
It’s the Tory graph ffs .
I agree think this is more of a rage bait article.
As someone who rents. I'm quite ok not seeing my costs go up thanks
As an ex-Landlord this is part of the reason I sold up….. this was always coming down the tracks and it’s not because of the people that own 2/3 rentals but the ‘big boys’.
It’s the same with the farmers they’re being screwed over because super rich tax dodgers saw a loophole and grabbed it.
Tax, tax and more tax. Then they take that money and give it to people who don't pay taxes. You voted for socialists and marxists so that it was you got
This pushes buy to let chancers out of the market but big corporations who have large property portfolios won’t really care. Their investment is a long term bet on housing in the uk constantly going up, as well as the short term returns on rent.
Disastrous
Let’s focus on these billionaires first, then work our way down
Note the Telegraph's use of weasel words here. It says "some MPs" want Reeves to charge more tax on landlords but never actually puts any names to any specific proposal. All the stuff about NI is from "experts" who have no direct link to Rachel Reeves or the Labour party.
Seems like rage-bait to me.
I can't wait till the entire rental market collapses from all this fuckery being done to landlords.
Watch the rents hit highest rates in history and homelessness proceeding it in record numbers.
Local councils think they have a problem with housing people now!? Watch this space.
The remaining housing stock (that is for sale by exiting landlords) will no doubt be swallowed up by giant conglomorates such as banking cartels, private housing giants etc. Who will then lobby government to revert laws back in their favor.
They then can control the market, laws and renters rights. People will be begging to bring back private landlords back, but it will be too late.
This is how you corner a lucrative market and size money making assets. When people ask what happened, just remeber people voted for this because they were to blind to see the long game.
People think rents are unaffordable now, wait till they double or triple the prices. Same as they did with hiking ground rents on apartments.
If you think you would be better off under these lot, have a look at some of the housing association properties with mould problems, roofs falling through from damp, etc.
A reminder to the eejits in charge. Most modern BTL landlords have a mortgage, typically with a 35-40% deposit... i.e. THE BANK owns 60-70% of the Capital value of a property. Landlords can't claim mortgage relief anymore, if they press on with this then there is going to even more Landlords exiting en-masse
Yeah, taxing the extractive corporations, multimillionaires, and billionaires more is out of the question, but jabbing renters in the eye makes sense.
Yeah, and we'll all react by increasing rents.
They haven't thought about this have they?
So that will mean all rents will go up and the people that will pay this extra tax will be *checks notes* working people.
Isn't national insurance capped at a moderate-high level?
This would just benefit corporate landlords and punish single rental landlords.
If they wanted to do anything serious they'd say that private corporations pay 30% tax on domestic rentals revenue, even playing field for private landlords, not some piss take posturing
Vat on residential property...
With the tax on farmers and these changes to housing it’s clear a massive land grab is about to happen..
This article seems more like it’s trying to stir the pot than report actual news. It claims Reeves is being pushed to hit landlords with new taxes but doesn’t name a single MP who’s actually said that. Just vague references to “some MPs” and a few quotes from ex-advisers or people no longer in key roles. No clear proposals, no one going on record. It’s mostly speculation being passed off as something more serious.
Where did the Labour Party manage to find MPs this fucking stupid ?
Philosophy, Politics, and Economics (PPE) courses at Uni.
I don’t think that this goes far enough to keep all the poor people poor…
15% national insurance and 20% VAT is only about 35% more cost to renters.
These are rookie numbers. Trump can tariff China, why can’t we tariff the poor?
Just think how much we could raise for the NHS if we put a 100% tariff as well as NI and VAT on rent…
Tax increases, prices go up. Tax decreases, prices go down.
Labour MPs are fools. Houses are expensive because there is more demand than supply. Adding NI to landlords income will reduce supply and increase rents further.
All the retired landlords will not be paying national Insurance has she thought this through ?
Ffs just put minimum income tax on foreign earning like the USA does.
Sod all the multi millionaires calming all earnings from tax havens.
This will just make rent go up even more lmao
So a few backbenchers are pushing for something and the Telegraph reports on it as though it's near enough party policy?
Landlords dont pay national insurance on rental income?
I have all my properties in a Ltd company so I assume I'm gucci?
"The Telegraph", yeah that same fine example of journalism that caused a panic in the pensions market last year with this fine piece of reporting:
Job losses are already through the roof due to the changes labour has made, perfect time to increase rent across the country 👍. I'm sure all the family's struggling will be able to pull out their magic money to pay for it.
In other words they will tax the landlord who like the shops they tax will just take it out on someone else so the consumer will be the one paying more and the rich continue to get the same as they got before this
Great idea during a house shortage and demand Labour!
Sounds crazy. I’m sure landlords aim for a minimum of x % profit so will just increase prices accordingly.
VAT on residential letting would just be paid by the tenant wouldn't it? VAT is paid by the consumer, just collected by the businesses they buy from. That does not make sense.
The idea that some kinds of income, eg if you invest in shares and sell them, are taxed at very low rates; other kinds of income, eg self-employed income, is taxed at a much higher rate but still less than employed income makes little logical sense - at least not as structured now.
I'm not sure why you would want specifically to tax residential letting more than other kinds of income on capital. Even if the end result didn't put rents up *much* it would almost certainly put them up a little. Is that where we want to be?
And this will affect the large rental companies who let the majority of rental property's how?
They already pay less tax on rental income than private citizens who are landords
I’m no landlord fan but interest rates have already fucked the rental market, the Labour Party is so out of touch that it hurts. Why can we just increase taxes on the ultra rich?
They are total imbeciles.
They should charge based on how many properties you own. Like 2 or less properties = minimum rate. And as you add more so does the increase
Nice, rent will go up. Taxes taxes taxes. It only gets worse. They never lower them once we get used to them.
I'm being made homeless because my landlord is selling the property, everywhere else is double the rent I'm currently paying and there are no social houses.
So what does the government do make it worse for landlords to rent properties, stopping The Rise in housing allow that helps people pay rent, and not building enough social houses, but if you're coming over to Britain in a boat you get a nice hotel room to stay in.
This woman is a complete cock
A direct tax on rental income seems counterproductive yes. You don't want to drive existing rents up or create an environment where it makes more financial sense to leave properties empty. Taxing second/third properties directly or focusing these sorts of taxes on business areas you want to mostly get rid of anyway such as airB&B would probably be the better play.
If they impose VAT can we reclaim VAT then?
How about we tax the wealth of the 350 richest people in the country who own £770bn 🤔 instead of further hammering independent landlords
Blackrock happy
Feel free. I'm still rinsing it through an Ltd.
Labour are a disgrace wtf
All this will do it cause rent to spiral higher.
Anything to take from Brits to pay for immigrants
So rent goes up, great.
They are so incredibly stupid. Why do NONE of them ask the question "and then what happens?" when someone suggests this crap?
Either rents go up directly, or landlords start selling, which lowers number of properties availble to rent which means rents go higher anyway.
They haven't a sodding clue.
I just can't figure out where the Landlords will get the extra money from to cover a hike in tax in one form or another.
This article was allegedly written by a Money Reporter who looks about 12. It uses language like 'urged' without naming sources and describes this unsubstantiated info as a tax raid. It's based on some info in a separate article in The Times which is behind a pay wall, so can't be verified easily.
The Reddit post uses the verb 'wants' again without any. actual.evidence.
In other words it's a load of rabble rousing bollocks until proven otherwise.
She ain't got a clue, none of them have a clue about what they are doing. Everything they do just makes people's lives worse.
They’ve already charge national insurance on the money that paid for it.
This reads as small landlords being forced out to corporate ones, you will own nothing and like it.
Why??
The rent is already sky high. The landlords will pass on the costs to the tenants, like employers passed on the NI increase to their employees.
Lets ponder for a second, how will that end...
"Alexa, show me a surefire way of worsening the housing crisis."
Labours stupidity is this sector is appalling now…
The immediate impact of this change… rent goes up. Again.
Longer term, landlords continue that tend of selling up or even tightening their belts further on necessary maintenance.
Even worst for tenants, the lack of available stock drops yet further and there is no competitive element and even less choice.
Landlords desperately need to be encouraged to stay in the game so that the market can properly regulate itself.
Taxes on landlords are already very high. How does this one sector (plus oil and gas) get penalised more than any other and somehow it makes sense?
This will just drive up rents and increase scarcity. I’m not even a landlord and I think it’s bollocks.
It’s the telegraph. Just ignore them and file this shut under rumours until RR gives a budget.
Boring
I think just rationalise the tax system for Landlords.
The comments on here; If you're living tenant rent cheque to tenant rent cheque, you maybe need to be in another game.
Obviously we can do without rental properties. There's no demand. Let's all demonise and jump on landlords. That seems like a good idea. Let's have a capitalist society that excludes landlords. They are just scum. After all, no one else makes any profit for providing a service? Do they?
You’re missing the bigger picture here - if you tax landlords they will just pass it onto the rental poors
Keeping this scum class down and dependant on renting assets from the wealthy instead of ever owning anything for themselves keeps them as quasi slaves to pick berries and do things with rudimentary tools such as mops
99% of the population shrugs their shoulders.
I wouldn't worry about it. Most of them have rentals.
Discourage investment? From what? Foreign buyers or… you know… landlords who caused the mess? Cmon.
Anything to hurt landlords helps the housing crisis because no landlord provides or creates any homes, just charges people for the privilege of being outbid when trying to own it themselves. Nothing is lost but greed when a landlord is removed and an owner occupier (who would previously have been outbid) moves in, and suddenly has a future without the vagaries of renting.
For the tired old argument of, “well my tenants couldn’t afford to buy”, that doesn’t matter because the next wealthiest potential owner occupier moves in, their rented flat becomes available and, obviously, the supply of housing remains precisely and exactly the same, except for the landlords squeezing too many people into a property.
Good
Who are these unnamed 'critics' who always say it will somehow be a disaster if wealthy people pay their fair share of taxes, and what qualifications have they got?
Unearned income should be taxed at the same rate as earned income.
Taxes on landlords should rise, but you need to legislate rent caps at the sane time, or the greedy sods will just increase their already obscene rents
>Critics warn these changes could discourage investment
Okay, good
>and
Wait…
>worsen the housing crisis.
Erm, what???
The notion that not taxing landlords is super good for tenants, actually, is pure hogwash. Private landlords are, by and large, leeches.
That said, the proposal seems daft on the face of it. Taxing landlords will just translate to increasingly unaffordable rent, making even basic housing less attainable. If the government is desperate for a cash injection, they're not going to find it by squeezing the people who can't afford a mortgage.
Are there any more ways we can screw small time landlords?
Rents go up then. Awesome
Yes. Do all three. Screw the naysayers.
Rent’s going up folks.
And rents go up.... I am ok with this if 4 million new social homes are built. That's the answer to many British ills.
Corbyn doesn’t look quite so bad now.
Every other person who is self employed has to.
You want the benefits of running a business you have to take on the same responsibilities of everyone else.
Is every other self-employed person taxed on the revenue of their business instead of the profits like landlords? or are we making silly comparisons?
Why is rental income (profit) not already subject to class2 NI?
People don't realise the overheads being a landlord. Rates are very high and renovations and repairs can cost tens of thousands. My family has property. One will need rendering soon at a cost of approximately £50000.
Yet another reason it should be abolished and rolled up into income tax.
Labour are finished
Labour, the party of workers, are finished because they don’t encourage landlordism? Lmao
The same labour that has targeted small businesses owners, workers and elderly?
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This government goes from one disaster to the next. No wonder the you gov polling yesterday had Labour and Starmer in the bin and Reform surging.
Change is coming.
How about caping what landlords charge. Instead, it’s the age old tactic - lob a tax on that. We any our cut.
Is too dumb of an idea to be seriously contemplated by the government, won’t get traction.
Either ban multiple dwelling ownership (they won't) or do what other countries like Singapore do - massive increase in stamp duty for multiple property owners, companies, foreigners and non-citizens (it's a sliding scale).
For example at the moment in Singapore foreigners have to pay SIXTY PERCENT stamp duty plus a MINIMUM of a TWENTY PERCENT downpayment (cash sources only, no loans allowed).
That would soon "cool the market" and let people actually get on the property ladder....
This is becoming sinister. Inventing new Taxes or adding taxes to new forms of income that traditionally don’t have them is just off.
These tools shouldnt be used as a tool to push people to default on their loans or target a specific demographic of the market for the sole reason that the government are inadequate at fulfilling their promises (building more housing).
Landlords don’t write or sign in law, they aren’t politicians. They don’t have massive influence like the global corps that have our parliament in a chokehold.
Most landlords are working people. Ridiculous
It's the problem with most things in the country. You can't charge the rich people causing the problem because they will immediately pass the costs on. Is there any way to stop them passing it on or do you have to just come up with another solution entirely
Why not just limit how much property a person can own.
10 is a good number. Enough to make a profit, and enough to release property back on the market to lower prices, and bypass shitty hmos everywhere
This will be fun. Their immigration plan will reduce the number of people entering the country, which will also mean less demand in the real estate market because fewer people will be searching for a flat to rent.
This could help renters because, eventually, with less demand, prices will drop. However, there will also be less tax revenue, and the government will lose millions of pounds.
Their solution is to prevent this loss by increasing taxes on landlords, which will be added to rental prices.
Just repeal all/most taxes for a land value tax. Fairest way to do this
Are these critics the landleeches that will have to pay more taxes on their investment properties?
I never really understand how measures to tax landlords make the housing crisis worse. The house doesn’t get demolished and it has no other purpose than to house people. I can see how it will increase prices but the price is going to be capped at a level people can afford regardless.
Increase housing taxes should only come combined with rent controls and a massive house building/repurchasing program.
