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FREE landlord softwareThe Chancellor is building for the future - if he can get planning permission https://t.co/N7HlqGrnM3 pic.twitter.com/sozMWushB8
— Telegraph News (@TelegraphNews) November 25, 2015Thursday, November 26, 2015
Chancellor building for the future
What UK building boom?
UK housebuilding: boom, what boom? https://t.co/eWjbmOhJz5 pic.twitter.com/F5PKxf5vwo
— The Lex Column (@FTLex) November 26, 2015Wednesday, November 25, 2015
Landlords to be surcharged
From April 2016, landlords will have to pay a 3% surcharge on the stamp duty band for the property. This is on top of the recently announced increases in tax for higher rate landlords. I can only hope that my purchase of my barn conversion in Derbyshire will beat the latest changes.
This means that for example properties worth between £125,000 and £250,000 where the stamp duty is 2% will pay 5%. For the average buy-to-let purchase price of £184,000 this will add an additional transaction cost of £5,520. Have a look here at the current stamp duty land tax rates
George Osborne anticipates that the change and new stamp duty surcharge on landlords would raise £1bn extra for the cash strapped Treasury by 2012.
Property Hawks view on surcharging on stamp duty surcharge
This is yet another raid by the Treasury on UK landlords. What is worrying is that the State is placing it's own value judgement on what is deserving housing and what isn't by eroding the level playing field of housing costs established after the eradication of MIRAS in the 1980s. It is a retrograde step in housing allocation and will only lead to complications and anomalies. How will it be policed? Wont there be a massive incentive for landlords to 'pretend' to purchase a property as their home only then to subsequently rent it.The answer as always is not trying to artificially re-allocate housing between tenures through the tax system but to design a system that enable enough new housing to be built to provide for our increasing housing needs.
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Tuesday, November 24, 2015
European country's housing spend
What % of European households spend more than 40% of income on housing? Interesting new Eurostat. Oh Greece! pic.twitter.com/vh7Tunicag
— Paul Kirby (@paul1kirby) November 23, 2015Take advantage of our discounted landlord insurance rates
Landlord jailed for 15 months following fire
A Prestatyn landlord has been jailed for 15 months following a fire at his rental property killed five people.
Unbelievably, landlord, Jay Liptrot, 43, from Prestatyn, Wales was also working as a fireman at the time of the blaze and the court heard how he was one of the firefighters at the" forefront of brave efforts" to rescue the five from the flat after the blaze was started.
Mr Liptrot pleaded guilty to a charge of failing to take general fire precautions and exposing people to risk at Caernarfon Crown Court. The installation of a fire door would have meant that it would have taken 30 minutes before the fire swept through the upstairs flat, but instead the “woefully inadequate” door made of glass and thin wood failed to act as a barrier between the communal hallway and stairs leading to the upstairs flat, and instead funnelled heat and smoke upwards “like a chimney”.
Tragically, Lee-Anna Shiers, 20, Liam Timbrell, 23, their son Charlie, Ms Shiers' nephew Bailey, four, and niece Skye, two, all died in the rental flat in Prestatyn back in 2012.
Due to Liprot's profession as a firefighter, the judge categorised his 'culpability' as high.
Mr Liptrot must also pay £4,200 prosecution costs and a £100 victim surcharge.
The blaze was started by a neighbour, Melanie Smith after a row with Ms Shiers' regarding a pushchair left in the shared hallway of the flats. Smith has been sentenced for 30 years for murder.
Landlords focus on cheaper homes
Landlords focus on cheaper properties https://t.co/42kYyjbZQ0
— Personal Finance (@ftmoney) November 24, 2015
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