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Ros Beck
Landlord
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About Me

Landlord

my expertise in the industry

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Ros Beck

From: Ros Beck 26 August 2017 16:26 PM

Ros Beck
I have heard of this man and heard him speak once on the radio. He doesn't seem too bright so I wonder why he is seen as some kind of expert. The experts on this are the IFS, ICAEW, the iea and the CML for starters. Also two former members of the MPC, Professor David Miles and Dame Kate Barker have spoken out against it. The crux of the matter is that profit = income - costs. The idea that you cannot deduct the main cost of a business when calculating profit is a nonsense. That wouldn't change if only one person in the country was facing this bizarre new tax regime. As James, above, has said, however, even given the Government's underestimate of landlords affected (they haven't included base rate taxpayers who will become higher rate taxpayers because their finance costs will artificially inflate their 'profit' and they will be taxed on a fictitious income), it would still mean more than 400,000 landlords. As this will be the landlords with the highest finance costs, naturally, they will have the most properties (apart from those who have a few expensive properties with high mortgages on them), and it is estimated this is likely to affect 4.6 million tenants. The term 'tenant tax' isn't perfect; I would call it a tenant and landlord tax, but that's a bit wordy. So far I have increased my rents by 10% in preparation for this tax, whatever you want to call it, and this tax will come from the tenants, go into my bank account and then be sent off to HMRC. So in this way it can be seen to be a tenant tax, with me as the tax collector, although as time goes on I will expect to also have to absorb some of the costs. It will be a shared burden between landlord and tenant and will cause havoc and misery in the PRS. To defend it when you understand it is to be an idiot and/or a liar.

From: Ros Beck 05 April 2017 09:01 AM

Zero Deposit Zero Deposit Zero Deposit