Death of buy-to-let: landlords wake up to Osborne's 150pc ta
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Death of buy-to-let: landlords wake up to Osborne's 150pc tax 
.......This is in the Daily Telegraph Re: Budget sees new punitive taxes on buy to let profits that could go past 100% ?!.............So will BTL collapse, or will rents rise to cover ?...Either way absolutely shocking and not what you'd expect from Conservatives....................Bestial !!
.......This is in the Daily Telegraph Re: Budget sees new punitive taxes on buy to let profits that could go past 100% ?!.............So will BTL collapse, or will rents rise to cover ?...Either way absolutely shocking and not what you'd expect from Conservatives....................Bestial !!
king hell, sounds like someone wants to cool the housing market. With the amount of 'part time landlords' i know personally, it may be an attempt to quash the numbers doing it. It is after all messing with the housing market and making it even more difficult for first time buyers as house prices rise due to all of the richer second home owners and them snapping up every property that needs a small amount of work.
Having said that post recession they have really tightened btl mortgage eligibility so i would be suprised if numbers of btl are growing at a huge rate anyway (there are plenty buying homes to let cash outright in this area though)
The housing market needs to cool off anyway.
Having said that post recession they have really tightened btl mortgage eligibility so i would be suprised if numbers of btl are growing at a huge rate anyway (there are plenty buying homes to let cash outright in this area though)
The housing market needs to cool off anyway.
Edited by Rick1.8t on Saturday 22 August 11:30
Rick1.8t said:
With the amount of 'part time landlords' i know personally, it may be an attempt to quash the numbers doing it. It is after all messing with the housing market and making it even more difficult for first time buyers as house prices rise due to all of the richer second home owners and them snapping up every property that needs a small amount of work.
Having said that post recession they have really tightened btl mortgage eligibility so i would be suprised if numbers of btl are growing at a huge rate anyway (there are plenty buying homes to let cash outright in this area though)
The housing market needs to cool off anyway.
I buy this theory. Probably being done to get people on the ladder.Having said that post recession they have really tightened btl mortgage eligibility so i would be suprised if numbers of btl are growing at a huge rate anyway (there are plenty buying homes to let cash outright in this area though)
The housing market needs to cool off anyway.
Edited by Rick1.8t on Saturday 22 August 11:30
daytona365 said:
Death of buy-to-let: landlords wake up to Osborne's 150pc tax .......This is in the Daily Telegraph Re: Budget sees new punitive taxes on buy to let profits that could go past 100% ?!.............So will BTL collapse, or will rents rise to cover ?...Either way absolutely shocking and not what you'd expect from Conservatives....................Bestial !!
Any danger you could step off hammering the full stop key for a few seconds and link the article?.......This is in the Daily Telegraph Re: Budget sees new punitive taxes on buy to let profits that could go past 100% ?!.............So will BTL collapse, or will rents rise to cover ?...Either way absolutely shocking and not what you'd expect from Conservatives....................Bestial !!It isn't, of course, anything like a "150% tax"... All it is is saying "You can't count mortgage interest as an expense, once your income is past basic rate tax". Some landlords with big mortgages and low yields will find that turns their slim profit into a loss. This change was announced at the start of July, in the post-election budget.
It's silly season. Slow news month.
It's silly season. Slow news month.
It wont happen , this will be withdrawn or watered down before 2017, not that I am that bothered being that rare type of landlord who only carries a mortgage on my properties as a tax benefit, those that borrow a large amount of money to rent out a property have been attracted by the cheap interest deals that's what's at fault , a rise in interest rates will see most of them off.
Mind you ultimately the tenants will pay for this , if BTL landlords do sell up there will be less houses up for rent thus increasing demand.
Mind you ultimately the tenants will pay for this , if BTL landlords do sell up there will be less houses up for rent thus increasing demand.
I think most people will end up turning their BTLs into LTD company's, it's an absurd tax that would set a very dangerous precedent, ie taxing turn over not profit.
The housing crisis is down to the government not allowing enough planning for new homes & a huge population spike I. The last decade or so, bullying landlords won't help anyone.
The housing crisis is down to the government not allowing enough planning for new homes & a huge population spike I. The last decade or so, bullying landlords won't help anyone.
RWD cossie wil said:
I think most people will end up turning their BTLs into LTD company's, it's an absurd tax that would set a very dangerous precedent, ie taxing turn over not profit.
The housing crisis is down to the government not allowing enough planning for new homes & a huge population spike I. The last decade or so, bullying landlords won't help anyone.
and nothing to do with Brown;s raid on Pensions making Buy to let look attractive and certaing an army of amatuer property tycoons and huge numbers of bottom feeder letting agents charging thoudnas for less than 100 gbp of work at application.The housing crisis is down to the government not allowing enough planning for new homes & a huge population spike I. The last decade or so, bullying landlords won't help anyone.
mph1977 said:
RWD cossie wil said:
I think most people will end up turning their BTLs into LTD company's, it's an absurd tax that would set a very dangerous precedent, ie taxing turn over not profit.
The housing crisis is down to the government not allowing enough planning for new homes & a huge population spike I. The last decade or so, bullying landlords won't help anyone.
and nothing to do with Brown;s raid on Pensions making Buy to let look attractive and certaing an army of amatuer property tycoons and huge numbers of bottom feeder letting agents charging thoudnas for less than 100 gbp of work at application.The housing crisis is down to the government not allowing enough planning for new homes & a huge population spike I. The last decade or so, bullying landlords won't help anyone.
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