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Why the Chancellor loves Landlords


Wight Flight

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Thinking about this, the difference to the exchequer's income between the two is massive.

Let's take an average £300k flat. 

First time Owner occupier buys. Gov gets stamp duty of £0k. 

Owner occupier pays off mortgage for years. Gov gets 0

Owner occupier sells after 10 years. With property prices doubling (yes, I know!). Gov gets 0.

Over the ten years, Gov receives £0 tax

-----------------------------------

Wealthy Landlord buys. Gov gets £14k stamp duty.

Landlord receives £15k p.a. in rent. Gov gets £6k per annum income tax

Landlord sells after 10 years. Gov gets 84k CGT

Over 10 years, Gov gets £158k tax.

------------------------------------

And just in case there was a way round it..

Owner occupier dies in occupation. Gov gets 0.

Landlord dies after 10 years. Gov gets £120k inheritance tax.

 

I can't see them totally killing off this golden goose anytime soon.

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Thats all very recent.

In your case IoW, stuffed full of holiday lets ukgov gets fuckall bar a leveraged banking system.

Ukgov wants rid of LL with debt.

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