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Yes - I meant to say low tax liability not no tax liability for offshore investors rental income - It's limited to 20% regardless of income band (unlike UK residents) and of course there are CGT benefits as well As for new homes for asylum seekers - cost avoidance? Yes - it may be expensive providing hotel accom - but prioritising building new homes when so many are already needed but not being built? Would you not think that reducing the need would be more cost effective? As to why rent is so high, it is down to cost - which is now mortgage + tax liability (which is increased due to S24) + profit - not just supply / demand. But it does have a real impact - the demographic of London is changing to older, wealthier, owners (not all asset rich are cash rich). It's undeniable that there is a housing crisis. Are we doing enough of the right things to reduce it though? -
By Dogkennelhillbilly · Posted
1 and 3: rent is determined by supply and demand, not input costs. 2: foreign landlords are subject to UK tax for UK property rentals. https://www.gov.uk/government/publications/non-resident-landord-guidance-notes-for-letting-agents-and-tenants-non-resident-landlords-scheme-guidance-notes/what-the-non-resident-landlords-scheme-is 4: paying squalid hotels to house asylum seekers short term is fantastically expensive. This £200m is a relatively small amount (compared to the housing market as a whole) and will lead to a small increase in the amount of short term housing stock owned by councils. 5 and 6: because that's where the money is. You didn't mention the other "solution" proposed by various NIMBYs: oppose infill housing projects like the one discussed here and attempt to reduce their size wherever possible based on disingenuous arguments. -
How curious! Two of mine are flowering. Both are usually kept outside. The smaller one is budding all over. The larger one (with lighter green leaves) has a single, open flower. Both are now inside due to the freezing temperatures. -
Another recommendation for Iain and Paul at Oddbods. They have installed a shed base and built a new shed for me as well as removing an old boiler cupboard. I am very pleased with their work and they are also very efficient, friendly and excellent with their communication. I had an issue with the date of the shed delivery and Iain kindly moved his jobs around so it could be completed before Christmas. I have already asked them to quote for another job so would definitely recommend Oddbods!
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