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Trendo Ben
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As LL need to increase rent to meet new tax oblidations , i would think that the first thing they will do is reduce availabilty to very needy social housing tenants...these people certainly wont be turning into OO any time soon. LL have only had it "good " due to low interest rates, when they go up the party wil be over for many overnight, with the new tax proposals in just means a whole lot more Landlords AND tenants will be suffering a whole lot sooner. Landlords provide a service at market rates, owner occupiers have the upper hand in terms of No CGT, a very generous tax free rental income from rent a room, and no tax to pay on rent ing out garages etc...... LL are battered with income tax on profits (soon to be on turnover ...money they actually dont have ) then CGT when they sell. Landlords are legally obliged to make sure gas and electrical systems are regularly inspected and are safe , OO dont have this obligation.
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From: Trendo Ben
02 September 2015 18:58 PM