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Rental income question

daresaints · 2008-09-22 20:32:07

The credit crunch caught me out big time as to secure a new build property I had signed the missives within the 14 day period requested by the builder (Persimmon-Scotland). I then couldn't sell my own house, tried to pull out but couldn't and things were getting very messy. To cut a long story short I somehow managed to…

Comments

Mutton_Geoff Posts: 4,080 Forumite

23 September 2008 at 12:13PM

I am a taxpayer too

My point is the government likes to encourage private ventures but then bends it's own rules to prevent the capital gain being included in the overall equation.

Coupled with the change in CGT rules this year, they are simply encouraging short term gambling rather than any long term investment (by removal of taper relief).

In some countries with tax systems similar to the UK (eg Singapore), it's possible to offset business losses against personal taxation on other income. Now that helps encourage entrepreneurs. Our system doesn't and as a high rate taxpayer, I consider that I already pay GB & Co enough every month.

Signature on holiday for two weeks
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