Capital Gains tax: buy-to-let investors must tear up retirement plans

carolt

http://www.telegraph.co.uk/finance/personalfinance/capital-gains-tax/7773029/Capital-Gains-tax-buy-to-let-investors-must-tear-up-retirement-plans.html

Oh diddums, however will they cope.

Forced to own only 1 house each!

And they might have to pay for their pensions themselves, instead of getting me to pay for them.

My heart bleeds for them.

abaxas

Agreed,

Tax activities that transfer wealth, encourage those that create it.

Asheron

Idiot, some people are dumb and get big loans to buy 2 or 3 houses.
The house bubble grows people think they will get rich quick. Sure.

But you are also just as dumb laughing at them.

carolt wrote: »

http://www.telegraph.co.uk/finance/personalfinance/capital-gains-tax/7773029/Capital-Gains-tax-buy-to-let-investors-must-tear-up-retirement-plans.html

Oh diddums, however will they cope.

Forced to own only 1 house each!

And they might have to pay for their pensions themselves, instead of getting me to pay for them.

My heart bleeds for them.

Really2

carolt wrote: »

http://www.telegraph.co.uk/finance/personalfinance/capital-gains-tax/7773029/Capital-Gains-tax-buy-to-let-investors-must-tear-up-retirement-plans.html

Oh diddums, however will they cope.

Forced to own only 1 house each!

And they might have to pay for their pensions themselves, instead of getting me to pay for them.

My heart bleeds for them.

What about taxing capital gains on your pension carol? Not sure why you would laugh at someone having their pension plans being destroyed.

I presume a 40% tax on any captial gain would be appropriate even for pensions, interest etc.

I am not pro BTL but I am not one for laughing at people for doing things to provide an income at retirement.
But I suppose if they own outright they get a rental income and when they peg it then family can keep it.

It could result in less houses being sold Carol not more as people look to hold for over generations instead of short term gains.

nzmegs

What aboput people like myself who bought another home for an elderley relaitive who couldn't get a mortgage? I make no income from the rent and never have. My relative will now lose half of their profit from the eventual sale of the home. it looks like we will be supporting our relative even though she lives in her own home (albeit with my name on the deeds)

carolt

nzmegs wrote: »

What aboput people like myself who bought another home for an elderley relaitive who couldn't get a mortgage? I make no income from the rent and never have. My relative will now lose half of their profit from the eventual sale of the home. it looks like we will be supporting our relative even though she lives in her own home (albeit with my name on the deeds)

Can you not transfer the house into their name?

Your case sounds rather unusual - a shame, certainly, but I can't see there being many people that applies to.

carolt

Really2 wrote: »

What about taxing capital gains on your pension carol? Not sure why you would laugh at someone having their pension plans being destroyed.

I presume a 40% tax on any captial gain would be appropriate even for pensions, interest etc.

I am not pro BTL but I am not one for laughing at people for doing things to provide an income at retirement.
But I suppose if they own outright they get a rental income and when they peg it then family can keep it.

It could result in less houses being sold Carol not more as people look to hold for over generations instead of short term gains.

I am no pension expert, but surely this does not apply to proper pensions, Really?

I'd welcome less BTL merchants testing the water for a few years, Really, I assure you.

carolt

Asheron wrote: »

Idiot, some people are dumb and get big loans to buy 2 or 3 houses.
The house bubble grows people think they will get rich quick. Sure.

But you are also just as dumb laughing at them.

What a reasoned argument.

Are you in a huff because I laughed at your Rothschild post?

I don't think a man who posts endless conspiracy theories is really in a position to call anyone else dumb.

Really2

carolt wrote: »

I am no pension expert, but surely this does not apply to proper pensions, Really?

I'd welcome less BTL merchants testing the water for a few years, Really, I assure you.

I agree, it does not apply to proper pensions, but you have to admit if people had purchased as a form of pension why should they be punished more than any other form of pension.

Horace_Wimp

Am I missing something here?

Wasn't CTG just reduced from 40% to 18% a couple of years ago?

If that's true, then surely there was always going to be a great risk that it would go back up again at some time in the future

silvercar

I thought the aim of including BTL in retirement planning was to have the properties mortgage free by retirement and have the rental income as part of income stream. Seems more balanced than selling up and having your whole pension pot invested.