Nope, taxing landlords more means higher rents and less rental properties.
Not breathing space - more like choking families and businesses to death. No hope is left for the future.
Councils will have to house more people in Travel lodges โฆ
This is a Budget that gives breathing space to families and businesses, and hope for the future.
๐๏ธ Taking 70,000 more retail, hospitality and leisure business out of business rates and revitalising our high streets.
๐ก ยฃ1.5 billion extra for social and affordable homes, taking spending to ยฃ40 billion over the next 10 years.
๐ชยฃ4.7bn for Your First Home, which is expected to support around 70,000 first-time buyers who donโt have access to the bank of Mum and Dad.
๐And unlocking the potential of every part of this country with a new wave of devolution.
Labour decisions. Breathing space today, and fresh hope for the future. ๐น
๐จ๐ฎ๐ฑ Netanyahu's Likud party is now claiming Israel's election was STOLEN...
In a statement posted by Netanyahu, Likud alleged widespread criminal activity at Arab polling stations, including bribery, threats, violence, multiple voting, and identity fraud.
Likud had already submitted 775 complaints alleging irregularities at Arab-majority polling stations on Election Day.
Israel's Central Elections Committee said during voting that it had found no indications of systematic ballot tampering, while investigating individual complaints.
Source: @netanyahu / Writer: Samuel
Many landlords planned and worked hard for property rentals because there were no other retirement options available in the private sector.
Now, the UK government is taking a wrecking ball to it.
Many tenants will lose their homes and have to be housed by councils in Travel lodges causing council taxes to explode even higher
Netanyahu is naturally trying to steal the Israeli election after clearly losing. Among his current anti-democratic tactics, he is alleging widespread voter fraud and claiming that โArabsโ conspired against him. He is also pushing Trump to reignite the war with Iran and likely plans to let Israel be struck to create another crisis narrative and seize power.
More bad news for #uklandlords
From April 2027, rental profits in England and Northern Ireland are set to be taxed more heavily than wages, and todayโs Budget widened that gap.
Last November, the government announced separate tax rates for property income, two points above the standard rates: 22%, 42% and 47%.
In todayโs Budget, the Chancellor said rates on income from property and savings will rise by a further two percentage points from April 2027. Tax on employment income and dividends is unchanged.
If the rise applies across every band, as reported, landlords would pay 24%, 44% and 49% on rental profits. The exact rates will be set out in the Budget documents.
For a higher-rate taxpayer, that would mean 44p of every ยฃ1 of rental profit going in income tax.
Many UK landlords are reviewing their options, and some are looking overseas. One thing to be clear on: the UAE has no personal income tax, but UK tax residents remain liable to UK tax on overseas rental income and gains. Where you invest doesnโt by itself change what you owe HMRC. Take independent tax advice before making any decision.
Our free Abu Dhabi Investor Guide sets out the full UK tax picture: https://t.co/8T1OYgz8ur
This is general information, not tax advice.
#BuyToLet #UKLandlords #PropertyInvestment
Labourโs budget has proven two things today.
They havenโt got a clue how to save our economy and they are coming for your money.
Only Reform can be trusted to lower your bills and save our country.
@MoorgateMermaid@BlickRothenberg Healey doesnโt understand private enterprise economics - heโs mainly worked in the public sector, like the rest of the Labour Party.
Landlords have a choice - sell up or pass on the increase to the tenants
Why did God create evil? The answer struck me to the core of my soul!
A professor at the university asked his students the following question:
Everything that exists was created by God?
One student bravely answered:
Yes, created by God.
Did God create everything? - a professor asked.
"Yes, sir," replied the student.
The professor asked :
If God created everything, then God created evil, since it exists. And according to the principle that our deeds define ourselves, then God is evil.
The student became silent after hearing such an answer. The professor was very pleased with himself. He boasted to students for proving once again that faith in God is a myth.
Another student raised his hand and said:
Can I ask you a question, professor?
"Of course," replied the professor.
A student got up and asked:
Professor, is cold a thing?
What kind of question? Of course it exists. Have you ever been cold?
Students laughed at the young man's question. The young man answered:
Actually, sir, cold doesn't exist.
According to the laws of physics, what we consider cold is actually the absence of heat. A person or object can be studied on whether it has or transmits energy.
Absolute zero (-460 degrees
Fahrenheit) is a complete absence of heat. All matter becomes inert and unable to react at this temperature.
Cold does not exist. We created this word to describe what we feel in the absence of heat.
A student continued:
Professor, does darkness exist?
โ Of course it exists.
You're wrong again, sir. Darkness also does not exist. Darkness is actually the absence of light. We can study the light but not the darkness.
We can use Newton's prism to spread white light across multiple colors and explore the different wavelengths of each color. You can't measure darkness. A simple ray of light can break into the world of darkness and and illuminate it. How can you tell how dark a certain space is? You measure how much light is presented. Isn't it so? Darkness is a term man uses to describe what happens in the absence of light.
In the end, the young man asked the professor:
Sir. does evil exist?
This time it was uncertain, the professor answered:
Of course, as I said before. We see him every day. Cruelty, numerous crimes and violence throughout the world. These examples are nothing but a manifestation of evil.
To this, the student answered:
Evil does not exist, sir, or at least it does not exist for itself. Evil is simply the absence of God. It is like darkness and coldโa man-made word to describe the absence of God. God did not create evil. Evil is not faith or love, which exist as light and warmth. Evil is the result of the absence of Divine love in the human heart. It's the kind of cold that comes when there is no heat, or the kind of darkness that comes when there's no light.
The student's name was Albert Einstein.
@Steven_Swinford Healey doesnโt understand private enterprise economics and thinks landlords will absorb the costs, rather than pass them to the tenants.
A general election is needed ASAP
Itโs discrimination against hard working private landlords, already facing hardships.
It will cause rents to rise, something Healey hasnโt grasped, as he is unqualified for the role, and mainly has only public sector experience.
Labour need to call a general election, as they donโt represent the electorate and have a sitting unelected prime minister
BREAKING
The OBR says the tax raid on landlords - increasing property income tax rates by another 2% - will:
1) Make it less likely that people become landlords, โreducing long term rental supplyโ and leading to a โsteady long-term rise in rentsโ
2) See landlords simply pass on costs to tenants, increasing rents
So income tax for higher rate taxpayer is 40%, plus 2% for NI
Rental income and bank interest for higher rate taxpayers was 40%, and no NI
Then Rachael Reeves increased it to 42% starting in April.
With some logic, that income regardless of source is in effect taxed the same (leaving dividend taxation aside)
But now Healy is increasing it to 44%
Is this their attempt at a wealth tax?
We'll make landlords and the cash rich pay higher rates than workers?
Sadly, the UK government has very little private sector experience & only knows how to make money by confiscating it from hard working and entrepreneurial people โฆ
Increased tax on Rental income will hit Renters.
An extra 4% for all my tenants, means nearly half of all the rent they pay now goes to the government
Not the Landlord who paid for the house, maintains it and takes all the risk
@cristo_radio@KirstieMAllsopp@GBNEWS
Healey is financially illiterate & has very little private sector experience.
He hasnโt worked out that more costs to private landlords will result in higher rents or he doesnโt care.
The shear level of incompetence is staggering tbh โฆ
No one will stand up for small private Landlords, 1st the Tories & now our current Government tax them more & more. But when the only landlords are faceless multi nationals owned by those who pay far, far less tax, if any, someone will realise what a mistake has been made.
Nope, the extra costs will be passed to the tenants.
Healey, as most Labour MPs and conservative MPs, is financially illiterate and has practically very little experience in the private sector - sad, but true โฆ
Has John Healey driven what could be the final nail into the coffin of the buy-to-let market by increasing tax on rental income from 2027?
This will disincentivise people from speculating on buy-to-let. Now harder for landlords to pass on costs to renters because of the Renters' Rights Act tribunal.
Trump seriously thinks solar panels roast animals alive. They jump onto them and boom, you've got yourself a public BBQ! ๐
Seriously, America, you've got an absolute idiot for a president. It's beyond ridiculous! ๐๐๐
These are the stats John Healey doesnโt want you to read.
Unemployment will rise to 5% in 2027.
The tax burden is going up AGAIN to the highest since WW2.
By 2031 weโll be spending ยฃ160bn/year on debt interest alone โ up ยฃ36bn/year.
Borrowing forecasts for the next 5 years have risen ยฃ65bn since March.
Households will be worse off in every single year of the five-year forecast than they were in March.
Itโll take until 2029 to get back to 2019 levels of prosperity.
Growth will be abysmal. GDP per capita grows less than 1% in 2027. Itโll peak at less than 2% per year, despite the AI revolution.
The national debt will stay above 95% of GDP.
We are on a fiscal knife-edge. Britain is Broke. Britain needs Reform.