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This has not been thought through. It will hit the rental market because landlords will either sell or pass on the burden to the tenant (they have no choice, one doesn't do it for fun); it will hit the inland revenue because there will be many who flee therefore no longer pay tax; it will hit the first time buyer market as it will become harder to save for a deposit due to hirer rent while doing so; it will hit pensioners because many private landlords are often thus as they do not have private pensions. It is a nonsense to hit private landlords - the corporates will sweep up the buy to let properties from fleeing landlords and the inland revenue will gain less tax from income which previously paid more! Who on earth advised the govt this was ever a good policy?
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Rosemarie Macdonald
31 January 2016 18:51 PM
Completely and utterly agree - this has not been thought through. It will hit the rental market because landlords will either sell or pass on the burden to the tenant (they have no choice, one doesn't do it for fun); it will hit the inland revenue because there will be many who flee therefore no longer pay tax; it will hit the first time buyer market as it will become harder to save for a deposit due to hirer rent while doing so; it will hit pensioners because many private landlords and thus as they do not have private pensions. It is a nonsense to hit private landlords - the corporates will sweep up the buy to let properties from fleeing landlords and the inland revenue will gain less tax from income which previously paid more! Who on earth advised the govt this was ever a good policy?
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Rosemarie Macdonald
31 January 2016 18:48 PM
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From: Rosemarie Macdonald
31 January 2016 18:51 PM
From: Rosemarie Macdonald
31 January 2016 18:48 PM