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Wednesday 20th Budget Discussion
EvilJaz
Posts: 75 Forumite
The dates coming up soon, and i'm sure it will affect us all in some way.
Anything you'd like to see? i'm hoping for some more FTB aid and i am also hoping the tax benefits for BTLing get scrapped
Anything you'd like to see? i'm hoping for some more FTB aid and i am also hoping the tax benefits for BTLing get scrapped
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Would like to see a decent renters tax applied as an incentive to get into the housing market. Tax could be applied directly inverse to the amount of squalor the renter currently accepts. The more squalid the more tax. This would also naturally lead to those afore mentioned renters with motivation to improve their lot in life.0
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Some people said it was the crappest 'rabbit out of the hat' of any budget for a generation when fuel duty was reduced by one penny in 2011.
I'd like to see Osborne go all out to produce something even more lame as his 'big thing' this year - how about a cut in vat to 19.75% on a Kit Kat Chunky.0 -
I would like to see the £250 per month limit on share save schemes raised. It has been at this level for years now and greatly restricts you being able to benefit from low share prices.0
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What tax benefits do you mean? AFAIK, BTL is treated the SE as any other business.
He must be talking about offsetting the mortgage interest against tax, but as you rightly say that is merely what any business can do. Unless he is saying that the 10% wear and tear allowance is too generous, but that is merely a simplified alternative to claiming capital allowances and isn't very significant anyway.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 stop0 -
Chucknorris i am.
Also.
Again i am no expert and merely repeating what friends have told me.
But say i bought a completely run down property. A complete dump. Could i not let it out cheaply for 6 months. Then refurb the entire house and then offset the cost against tax?0 -
Chucknorris i am.
Also.
Again i am no expert and merely repeating what friends have told me.
But say i bought a completely run down property. A complete dump. Could i not let it out cheaply for 6 months. Then refurb the entire house and then offset the cost against tax?
why wait 6 months?
I bought a property and modernised it before leasing it out.
The refurbishment was part of the capital expenditure costs:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Chucknorris i am.
Also.
Again i am no expert and merely repeating what friends have told me.
But say i bought a completely run down property. A complete dump. Could i not let it out cheaply for 6 months. Then refurb the entire house and then offset the cost against tax?
Can you be more specific, do you mean after the refurbishment you then live in the house or sell it? I need to know so that I can fully answer in detail. Also what sort of refurbishment work are you taklking about?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 stop0 -
Say a brand new kitchen and bathroom.
Maybe not live in it straight away but maybe sometime in the future?.
Sorry if i say something silly, i am no expert. Just find it interesting.0 -
Say a brand new kitchen and bathroom.
Maybe not live in it straight away but maybe sometime in the future?.
Sorry if i say something silly, i am no expert. Just find it interesting.
Yep, I bought a property, put in a new kitchen, tarted up the bathrooms / ensuite, laid new carpets throughout, painted throughout and then leased the property out.
No reason to wait 6 months.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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