Chris Bailey Discusses Section 24 [VIDEO]
Chris Bailey, Chartered Accountant, landlord and Founding Director of Less Tax 4 Landlords, speaks with Vanessa Warwick for PropertyTribes.com about his thoughts on Section 24 and where the government could go next.
View the original post and comment on PropertyTribes.com
For videos explaining Section 24, the impact of Section 24 on your cash flow and much more…
Watch the full video of the Landlord Investment Show ‘Fireworks of Brexit’ debate with Iain Duncan Smith and panel of experts.
On the 5th of November there were fireworks of a different sort at the National Landlord Investment Show in London’s Olympia Exhibition Centre. Less Tax 4 Landlords founding director Tony Gimple was joined on stage by Iain Duncan Smith (former leader of the Conservative Party), Andrew Neil (broadcaster and journalist), David Smith (Sunday Times economics editor and Property Notify columnist) and Gavin Fraser (managing director of High Street Residential) for a lively debate discussing all things Brexit, politics and how the outcome of the next UK general election will impact private landlords and the UK property market.
The first half of the debate focused on the election, with the seemingly right-leaning panel discussing the possible outcome and the challenges that each one presents. Also how each outcome impacts the Brexit position and its timetable.
Tony Gimple believes that with a Tory majority we will leave the EU and the country will get on and forget about Brexit and do what the UK is best at, which is being a free-trade zone, bringing the best into the UK and outputting the best. However, he went on to say that if it’s not an overall Tory majority he wasn’t sure what the outcome would look like. He said, “the truth of the matter is that Brexit has been a sideshow.” Jump to question here.
In contrast, Andrew Neil questioned Gavin Fraser about his opinion on the deadening effect of Brexit uncertainty on UK investment. Gavin believes Brexit is critical to the property market, property development is funded by foreign capital and the flow of capital in and out of the UK is fundamental to getting supply and demand right. Jump to question here.
The panel seems to be unanimous in thinking a Corbyn government would be bad news for landlords, says Andrew Neil, but already under a conservative government landlords have had to endure a ban on tenant fees, a cap on deposits, stamp duty levy of 3% on landlords and the government have been looking at three year tenancy terms. He asks Iain Duncan Smith, “what else do you have in store for landlords?” Watch Iain Duncan Smith’s answer here.
The audience was then given the opportunity to ask questions which covered topics such as the possibility of a Conservative government reversing George Osborne’s decision to cancel tax relief on Buy-To-Let mortgages. Hear the question here.
Andrew Neil concluded saying that there are a lot of issues to resolve relating to housing and the property market, and he urged landlords to speak to politicians and to ask them about the issues that concern them the most and to try hard to get housing higher up the agenda. Only then might Landlords get some worthwhile changes.
2019 Property Investor Show Panel Debate. Watch ‘The State of the Market’ recording in full.
On the 4th October 2019 at the Property Investor Show, Less Tax 4 Landlords founding director Tony Gimple was joined by Richard Blanco (London Representative,The National Landlords Association), David Cox (ARLA), David Smith (Policy Director, RLA) with the debate hosted by Kate Faulker (BBC TV & Radio personality and Managing Director of Property Checklists). Together they discussed the state of the property market. View on You Tube here.
Each panellist gave their thoughts on the key topics that investors and landlords should consider. Some discussed macro and micro economics, including the impact of Brexit on the property market, whilst others talked about issues such as the abolition of Section 21. There was even a discussion on the pros and cons of Rent to Rent.
The panellists also expressed the view that, given somewhat subdued demand as a consequence of anxiety about Brexit when (and if!) it eventually happens, pent-up demand is building. And, with supply levels in many parts of the UK being so low, this was likely to lead to a market ‘bounce’ in the future for a brief period, although probably not in the longer term.
On tax, Tony Gimple pointed out that 58% of landlords had reported their 2017-8 tax bill was higher than the previous year as a result of S24, with only one in eight consulting a specialist tax adviser for help. It was agreed by all that this was the one area that landlords and investors seek specialist advice as it’s important to get help before future tax changes come into effect.
Ken Livingstone defends his housing record at the Landlord Investment Show
On the 13th June at the National Landlord Investment Show, Less Tax 4 Landlords founding director Tony Gimple was joined on stage by former Mayor of London, Ken Livingstone; Mortgages for Business MD, Steve Olejnik and Knowledge and Product Editor of the Mail...
BBC’s Andrew Neil questions panel of experts (including Iain Duncan Smith MP) on Brexit, Government policy, intervention and the future of the Buy to Let market
On the 21st March at the National Landlord Investment Show, the Rt Hon Iain Duncan Smith MP joined a panel of experts, including Less Tax 4 Landlords founding director Tony Gimple, to discuss Government policy, intervention and the future of the Buy to Let market.
Chaired by BBC politics presenter Andrew Neil, the panel also featured Paul Mahoney (Nova Financial Group) and Sarah Davidson (Knowledge and Product Editor at the Mail Online’s money section, This is Money).The debate ranged over a wide variety of pertinent topics, such as Brexit and house-building, as well as the obstacles homeowners and landlords currently face.
Property TV Question Time Ep 161 – Tony Gimple, Stephen Galpin and John Howard
https://youtu.be/y__UsJKlWBQ Learn about working with councils, and the best way to own a property portfolio in this interview with Tony Gimple (Less Tax 4 Landlords) Stephen Galpin (London Property Consultant) and John Howard (Property Developer) Questions in...
Property TV – Property Question Time S1 EP 142 – Tony Gimple, Paul Mahoney and Joanna Leggett
https://youtu.be/2CKTbOiS6Uw Tony Gimple (Founding Director of Less Tax 4 Landlords) is interviewed in this Property Question Time Episode 142 and is joined by Paul Mahoney (Nova Financial) and Joanna Leggett (Leggett Immobilier) Questions in this episode...
Property TV Property Question Time S1 EP 146 – Tony Gimple, Paul Mahoney and Simon Zutshi.
https://youtu.be/fmYpCUeFFqY Here in this Property Question Time, Tony Gimple (Less Tax 4 Landlords) answers questions about section 24, paying 50% of next years tax bill and holding property in a limited company. He's also joined by Paul Mahoney (Nova...
Proper Wealth Episode 13 -Buy to Let Property Tax
https://www.youtube.com/watch?v=ck0I3iVxciw Learn about the three major changes in relation to property and property investment in this interview with Tony Gimple (Less Tax For Landlords) and Paul Mahoney (Nova Financial Group). The changes in tax have forced...
Where is the private rented sector heading? – Property Investor Show Oct 2018 panel de-brief
One hot topic debated at the Property Investor Show at ExCel London this past weekend was the state of the BTL market. Hosted by private landlord and National Landlord Association Rep Richard Blanco; Peter Littlewood of landlord association iHowz, Tony Gimple of Less...
Property TV Property Question Time EP 139 – Tony Gimple, Paul Mahoney and Joanna Leggett
Tony Gimple discusses the pitfalls of becoming an expat, along with the complications of inheritance tax when running a property business. Questions in this episode include: Am I still subject to UK tax if I become an expat? Are my heirs liable for 40%...
Property TV Property Question Time EP 138 – Tony Gimple, Paul Mahoney and Joanna Leggett
Here in this Property Question Time, Tony Gimple discusses how being pushed into the 40% higher tax bracket could lead to a much higher tax bill due to Section 24, along with a discussion on why it is not always sensible to become a Ltd company. Questions in...