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come into some money - BTL to secure my future?

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Comments

  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    abaxas wrote: »
    People forget the most important down side of BTL.

    Once you get to 5+ properties you are stuck in the system and it can be next to impossible to bail out/sell up. If you cant liquidate your 'pension' and cant be bothered to service it, how are you going to get out?

    Do people really think they want the faf of no incoming when you are 80? Be serious here.

    Why are you stuck? We've got 8 properties plus another house that my MIL lives in rent free and we are certainly not stuck
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    abaxas wrote: »
    People forget the most important down side of BTL.

    Once you get to 5+ properties you are stuck in the system and it can be next to impossible to bail out/sell up. If you cant liquidate your 'pension' and cant be bothered to service it, how are you going to get out?

    Do people really think they want the faf of no incoming when you are 80? Be serious here.
    little information in the hands of some people is fascinating...

    if you have 5+ properties you should have a Ltd Co structure.

    Ltd Co structure's allow you to sell your properties free of Stamp Duty.
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    Thrugelmir wrote: »
    Tell me more.............

    Why? Are you thinking of going into BTL?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    chucknorris wrote: »
    Why are you stuck? We've got 8 properties plus another house that my MIL lives in rent free and we are certainly not stuck
    as i said little information in the hands of some people is dangerous...

    these people read and actually believe the sound bites on these forums a bit too much...
  • abaxas
    abaxas Posts: 4,141 Forumite
    chucky wrote: »
    little information in the hands of some people is fascinating...

    if you have 5+ properties you should have a Ltd Co structure.

    Ltd Co structure's allow you to sell your properties free of Stamp Duty.

    Corporation tax?
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    chucky wrote: »
    as i said little information in the hands of some people is dangerous...

    these people read and actually believe the sound bites on these forums a bit too much...

    I don't really understand what he meant by stuck to be honest chucky, Reno man has taken it to mean too much time managing them, is that how you took his comment?

    My wife works full time and I work 80% of a FT job and we cope ok.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    abaxas wrote: »
    Corporation tax?

    corporation tax is paid on profits, you could move a substantial amount of money into a personal pension plan for yourself and partner.
  • abaxas
    abaxas Posts: 4,141 Forumite
    RenovationMan wrote: »
    corporation tax is paid on profits, you could move a substantial amount of money into a personal pension plan for yourself and partner.

    Didnt they fill that loophole with director's pensions?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    abaxas wrote: »
    Corporation tax?
    as i said as i said
    little information in the hands of some people is dangerous...
    Corporation Tax at 20%-22% or would you rather pay Capital Gains Tax at 40% - that's a lovely position to be stuck in...
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    chucky wrote: »
    as i said as i said

    Corporation Tax at 20%-22% or would you rather pay Capital Gains Tax at 40% - that's a lovely position to be stuck in...

    28% atm chucky
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
This discussion has been closed.
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