The Property Podcast TPP209 What does the Spring 2017 budget mean for property investors
The teams at RMP and Yellow have both grown in this past week. RMP have said hello to Julia and Christa, and Yellow have welcomed Donna and Nicole. So that's been a pretty busy week for us all round really!
We've also been creating some more free courses this week. Check out the ones that are there already here, and look out for a brand new course in the next few weeks.
News story: World's fastest hover train could go from Liverpool to Manchester in 7 minutes.
The Robs could not be more excited about this, even if it does seem quite a long way off right now. It combines some of our favourite cities to invest in, plus trains (and we all know how much Rob B like's trains!). So this is probably one of the most exciting news stories they've seen in a while.
Check out more about the potential Maglev train here.
The Spring Budget
This is a mini-budget, if you will. We've had to dig pretty deep to find something to say on this as The Chancellor did not mention housing at all. Here's a brief summary of points you might want to note though.
- Nothing about mortgage relief or stamp duty...in fact, nothing about housing at all!
- As before – Corporation tax will fall to 19% this April, and will then fall to 17% in April 2020. So good for those holding properties in a company
- The tax free dividend allowance for company directors will be reduced from £5K to £2K from April 2018.
- Extension until 2019 until landlords need to keep digital records and send quarterly updates to HMRC
- Rent-a-room relief – The government will consult on proposals to redesign rent-a-room relief, to ensure it is better targeted to support longer-term lettings. This will align the relief more closely with its intended purpose, to increase supply of affordable long-term lodgings.
And from the makers of The Northern Powerhouse...
Did you enjoy the Northern Powerhouse...then you’ll love the Midlands Engine! We don't have much to say on this right now, but watch this space.
Resource of the week
A lack-lustre budget but to make up for this we have not one but two resources of the week!
Managing your credit file is not exciting, but it is important. It's good to checkout a regular snapshot of how things are doing. The first resource this week is from Money Saving Expert and is called Credit Club. It's super useful and once you're signed up they will do the rest.
You can also get a free score from Experian now. This used to be around £15 per month, so is well worth checking out.
Continue the conversation over in the forum
What did you think to The Budget? Did you get as ridiculously excited over the prospect of the hover train, as Rob B did? Let us know over in the forum.
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