Would you buy a buy to let at the moment

rockitup

Rinoa wrote: »

You are right that HMRC are looking more closely at BTL and the new Tenancy Deposit Scheme provides them with lots of juicy information.

However, I believe their efforts are concentrated on those they believe to be evading tax rather than those who openly declare profits on their tax forms and legitimately use the allowances available. Although I accept there are probably rules stipulating how many you can buy and sell over a period before they class the transactions as a business.

It would be interesting to know what those rules are now.

I seem to remember about 3 years ago they were starting to liase more with Land Registry to check on more home sales where they had information(?) that the property was used as a BTL but no rental income and expenses figures had been declared on the owner's tax return. They were obviously trying to collar a nice big chunk on the Capital Gain when the property was sold and then it would have been too late to claim every allowance available.

More recently another crackdown has become apparent and as you mention the deposit schemes provide a good bit of info for HMRC and I suspect a lot more peeved tenants may end up blowing the whistle too these days.

I did dabble in BTL but pulled out a couple of years ago, I cannot see any reasons why it would be worth returning to this market for another 10 years or so. I have started a monthly investment into property Unit Trusts to diversify my portfolio but they are Global Property UT's and not restricted to the strangled UK market.

Harry_Powell

I remember that also, as indeed you do, as you just said. indeed.

Thrugelmir

Harry_Powell wrote: »

This time next year we'll be millionaires, Rodney. :rotfl:

If you knew anything about investing you'd know that using the EIS (Enterprise Investment Scheme) is far more tax efficent then BTL.

Harry_Powell

Thrugelmir wrote: »

If you knew anything about investing you'd know that using the EIS (Enterprise Investment Scheme) is far more tax efficent then BTL.

Please find any post where I stated that BTL was tax efficient. Indeed anywhere where I said that BTL was even a good investment?

Bit of an ad hominem attack there Thrug, though something to be expected as theyare your stock and trade.

Thrugelmir

Harry_Powell wrote: »

Bit of an ad hominem attack there Thrug, though something to be expected as theyare your stock and trade.

At least I hold a balanced view that I amend as events unfold. Rather than post bull and bear tosh. With sweeping generalisations of people you've never met. One of your earlier contributions today to the debate is below. Part of the reason that this forum is destined to remain below the radar.

I'd love to know the REAL background for some of the resident bears. Do they all live in the back bedrooms and cellars of their parents, surrounded by tins of beans and wearing tin hats?

I've never 'seen' such a risk adverse set of people. No wonder they don't own houses, they haven't the snuff to make anything of themselves because they're too busy quaking in their boots and posting their trash on internet websites trying to make other people as scared of life as they are. It's sad really.

I'll happily debate with anyone and respect their view, even if we differ in opinion. Reading juvenille verbal diatribe, no thanks.

Harry_Powell

Thrugelmir wrote: »

At least I hold a balanced view that I amend as events unfold. Rather than post bull and bear tosh. With sweeping generalisations of people you've never met. One of your earlier contributions today to the debate is below. Part of the reason that this forum is destined to remain below the radar.



I'll happily debate with anyone and respect their view, even if we differ in opinion. Reading juvenille verbal diatribe, no thanks.

Did I hit a raw nerve, "Mr live at home with parents"? :rotfl:

You seem a bit free with your own sweeping generalisations, "Mr If you knew anything about investing you'd know that using the EIS (Enterprise Investment Scheme) is far more tax efficent then BTL" :rotfl:

Spartacus_Mills

http://www.thisismoney.co.uk/mortgages-and-homes/buy-to-let/article.html?in_article_id=509346&in_page_id=56

Spartacus_Mills

To answer the original question as this thread seems to have descended into Harry being an arrse and Steve J biitching at Graham Devon (things never change) I would most certainly not buy a BTL.

Malcolm.

Spartacus_Mills wrote: »

To answer the original question as this thread seems to have descended into Harry being an arrse and Steve J biitching at Graham Devon (things never change) I would most certainly not buy a BTL.

The intelligent decision should depend on how cheap the individual property is.

If a bargain, then why not?

chucky

Malcolm. wrote: »

The intelligent decision should depend on how cheap the individual property is.

If a bargain, then why not?

too right - those that are saying they wouldn't invest in BTL are saying they wouldn't on 'moral' grounds - they're not making a financial decision on the price that is being paid on the asset and the return on it.

i'm happy to see a good yield and good additional income hitting my bank account each and every month.

i'm also happy to have bought at lower prices ensuring decent capital appreciation which is always a nice little bonus.

those are two good reasons to buy a BTL... at the right price of course...