The budget now rubbish it is

[Noras]

my post should read how rubbish is this budget!

So I will only get a state pension and income from an investment property for my retirement ( monies from an inheritance ) as I have looked after my disabled son. So the Gov have gone against me as ever.

But have they gone against the extremely wealthy or huge corporates that exercise price transfer re tax tax or use franchises/ loan agreements etc to legally avoid tax?

Nope.

I actually loathe this government now. They always shield the wealthy and go for the middle classes. Those with a bit of bank interest or a single asset let’s tax that more - easy pickings.

Landlords have had to pay to register and have landlord licenses for just over 10 years in Wales. They gripe obviously, but it’s an income so they keep buying those properties to rent out.

I think people are missing the point on this- the government (and society tbh) don’t want btl unprofessional “doing to for my pension” landlords. They want professional landlords which is the norm in many European countries we view as aspirational, housing wise.

less btl landlords mean 2 potential outcomes- property prices reduce, and some renters can buy instead (we are already seeing this) or bulk purchases by professional landlords to provide rental properties (we are also seeing this)

it’s not an error, it’s intentional. The btl landlords just don’t seem to recognise it’s happening

Theres just no intent to fix the root cause of problems is there? Its not just this government, we’ve had the same attitude from all governments for 30 years.

I don’t want an extra £100 paid from public taxpayer money to pay a crooked private utility provider, I want the utilities nationalised and the system made cheaper in the first place by not having to pay shareholder profits. I don’t want sops in a broken system I want the system fixed.

Providing more and more money from the public purse that has to be paid to private rich shareholders, via privatised and therefore over priced housing, utilities, transport, education, and more money paid to shore up cheap wages - this is exactly what is bankrupting our country and working individuals while the idle rich get more and more money and power.

Yes the system is difficult to change now, it’s been given far too much headway. But this is Britain where it has been changed before, and how much longer do we have to wait for the change we need? This system is running out of road.

That’s not news and is talked about all the time on landlords forums.

The mistake government makes is thinking a) renters get a better service and b) that corporate landlords are happy to accept the mountains of legislation that still applies to them. John Lewis recently pulled out of a massive development near to me because of the renters rights legislation.

They are bankrupting the country? Short memory........!

The system is capitalism and no budget can fix that. It’s just fucked

Tax the wealth gained by privatisation and corruption amd plug the money into nationalising essential infrasture once again. We did it successfully once before in the first half of the 20th century.

This road only leads to complete collapse. There will be change then, and none of us will like it.

John Lewis have pulled out of a lot of investment recently due to their own capital constraints. They are a small landlord, but their stock is managed by a professional management company.

corporate landlords are of course happy to accept the legislation. They already have far more than you due to the size of their organisation and all the governance and regulation that has always applied to large landlords.

When I say you don’t realise it’s happening I mean btl landlords often complain and say the world will be worse off without them rather than selling up and accepting their fate.

I used to have a landlord who also spent 0 money on repairs to the property/maintenance. So I do believe it's possible. However, it isn't something I have a great deal of sympathy for. Anyone spending to maintain the property can deduct that from their taxable income. Anyone not spending any money and treating their entire rental income as "passive income" will indeed be taxed on that.

So pre-June 2026

What do you think happened when a landlord issues a no-fault eviction (s.21) when the tenant refused to leave after 2 months?

Answer:

lengthy eviction proceedings, involving an escalating journey of stand-offs en route to the courts - which during the pandemic caused an complete logjam of evictions proceedings

Section 21 was not a magic can-opener, it relied on the goodwill of most decent tenants to leave by notice expiry (which also protects future references)... if they had somewhere else to go

and...

Furthermore, the statutory advice from councils in terms of people genuinely facing homelessness after tenancy expiry, remains unchanged from s.21

you do not have leave at the end of your notice (and if you do without having somewhere else to go, you will be making yourself intentionally homeless, at which point, we can discharge our obligations to house you, temporarly, or otherwise)

There's always someone who loves to complain. No matter what the Government does or doesn't do, someone will find a reason to have a gripe.

.

Not all landlords want to sell up and ‘accept their fate’. Nor should they have to. The idea that a world filled with corporate landlords is some sunny utopia is laughable.

Higher borrowing costs are slowing down many corporate investors and the RRA will add to that. Corporate investors will want to get rid of problem tenants quickly and cheaply. They can do neither now.

Is that aimed at me??

£100 does not even begin to touch the edge of what i am owed in terms of total remuneration from society for the past work i have done, which all went straight to benefitting tge idle rich landlords and their totally wastrel undeserving heirs. Not even one month’s worth of it.

Sops of failure demand delivered 30 years late are laughably insufficient, insulting even. Id send the £100 back to them with a note if i thought theyd take any notice.

I’m not talking about doing zero maintenance.

I haven’t read all of your post but increasing taxes on multinational companies is generally a mistake, since they may then decide not to do business here. They certainly won’t invest in eg manufacturing here. This directly affects the job market - both jobs at the company and at its suppliers.

Ireland basically transformed its whole economy by offering very low tax rates to multinationals. That’s why it has lots of pharmaceutical factories and places like Amazon and LinkedIn have their European headquarters there. Those are good jobs that make a difference to an area. Those companies being in far, far more wealth than any higher tax rate would have done.

I assume one is referring to following parade of esteemed sires and dames:

David Camerong
Theresa Mayke-believe
Bore-us Johnstain
Liz Trust issues
Richer Sunak

because I'm in that kind of mood, shout-out to

Scammi Badenoch

This.

The markets like it, which is important to everyone. Remember Luz Truss and the mess made with the markets after her budget.

Yoda Lets Flats?

“that a world filled with corporate landlords is some sunny utopia is laughable“

or…. Germany? 😂

don’t forget with volume you can shoulder the risk of taking ages to get tenants evicted. Take a look at the accounts of someone like Peabody or home group- see how much bad debt and % evictions they shoulder. They can do it because they have 100,000 rentals

This.

There has been one legislation after another hammering landlords and those on the sharp end of the stick in impact are actually renters.

Some legislation has been good but it's gone way too far and renters are now being charged astronomical amounts just for landlords to break even.

I say that as someone who rented for a long time then rented out my own place for a short time when I moved abroad. I only wanted to cover costs but all the incremental tax and legislation costs meant that was quite a lot to ask for. Feel very sorry for renters and not sure what the government is thinking long term driving all the landlords out. Not everyone can or wants to buy!

@Noras I think this is actually what they want

They want people to sell up and they want big corporations to buy lots of properties and being in charge of rentals.

Smiley face emojis aside, if you did your research you would know that Germany is incomparable to the UK. They offer several tax advantages to landlords including no CGT payable on properties you've owned for 10 years or more and real-estate depreciation which means you can deduct part of your property's value over time against income tax in addition to special depreciation programmes for some.

I'd love to be a landlord in Germany.

That’s neither here nor there when we’re talking about the number of corporate landlords in the country is it? Pick Holland if you like, or Sweden

Last year, my small business paid more corporation tax than Starbucks in the UK. Not difficult as they paid none.

Multiply that by every business that can off shore profits.

My daughter has rented two flats in Manchester over the last few years. In one the rent was paid to a company registered in the BVI. In the other to a company registered in the Far East.

Too much of the tax burden is falling on the shoulders of too few and the appetite for reform is non existent.

Late stage capitalism on full display.