Inside information

[mickflynn39]

 

A senior Tory politician involved in housing (I can name him if necessary) has let the cat out of the bag and confirmed what a lot of us are already probably thinking and fearing. They want anyone involved in the landlord business to become a proper business. They have got it in for non incorporated landlords. In his narrow view, you are not a proper business unless you incorporate.

 

It is important for us all to be as aware of the macro economic environment when planning our businesses. I am not incorporated and will not be going down this path anytime soon. I rely on income from rent and crunching the numbers I am far better off not incorporating as things stand. In future I will be stress testing my portfolio to see what impact the removal of mortgage interest relief will have on non incorporated landlords. I strongly suspect this will be the next thing they do to try to speed up the removal of private landlords from the market. I believe the reduction to a 20% allowance for mortgage interest costs is just the first phase in removing the relief.

 

One thing is for sure. It's only going to get tougher for non incorporated landlords.