Originally published at: https://blog.openrent.co.uk/landlord-guide-to-the-uk-general-election-2019/
We know that you will be considering how the plans of each party will affect you as a landlord at this general election. To help you quickly get a grasp on the main positions of each party, we have written a summary of what the three large national parties (the Conservatives, Labour and Liberal Democrats)…
It is obvious to me which party is trying to get votes of tenants by targeting all landlords
You have missed a collosal issue in labour’s manifesto.
Where you mention corporation tax is increasing which affects landlords in a Ltd Co, you have also failed to mention that dividend tax will increase to the rate of income tax. That means the effective tax rate these landlords pay will increase dramatically.
You also say the small businesses with a profit of under £300k will have the lower corporation tax. This is not clear in the manifesto as in one sentence it says profits below £300k and in the next sentence it says turn over of £300k. This needs to be confirmed.
Another monomuntal issue is that Labour want to increase capital gains tax to the rate of income tax. Consider landlords who refinanced prior to the GFC and are now in negative equity would be taxed over what they have so they would be trapped. Not to mention the increase for anyone selling.
Its dissapointing that these were missed and I think you should highlight these
The real pity is that none of the parties really seems to understand the viewpoint of the responsible PRS landlord. I’ve written to each of my local main party MPs, with contact details, inviting them to come take a look at how a well intentioned, multi property landlord runs his portfolio. So far, no contact, but I remain hopeful. It seems there’s one party that isn’t particularly fussed about hammering our sector of the market, but based on their track record in government, I can’t say I trust them to be any better than their competitors. It’s truly going to be a race to the top by everyone racing to the bottom. If only someone that could make a difference would simply listen & learn about what we do & how we do it. It seems that every one of the politicians seems to have an opinion & an agenda on us evil landlords. As everyone knows we’re the richest in our communities & will go into Christmas counting our massive piles of cash & making our Scrooge like plans for how to bleed our tenants dry in the coming year. Or am I thinking that’s what the politicians are doing with landlords in mind?
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Hi Rod, thanks for raising these points so that other readers can consider them.
Remember if the Tories get in you will lose the NHS, the financial costs of running the UK will mean more taxes and fewer services, works rights, minimum wages, environmental guidelines will be thrown out of the window, UK will be a vassal body to the US, and many more negative results besides being lied to at every turn - think NHS and taxes.
I have been a Tory voter apart from Blair - this time tactical voting for remain camp.