BTL tax giveaway

wecanhelpu

2 billion pounds - the tax relief for buy-to-let landlords

0 pounds - the tax relief for first time buyers

http://money.guardian.co.uk/property/buyingtolet/story/0,,2109150,00.html

Gorgeous_George

But ALL businesses receive tax relief on their borrowings. Costs are ALWAYS off-set against tax and there are many blatant tax avoidance scams outside of the BTL market.

However, it's always nice to get a reminder as to why I rarely buy newspapers.



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Lyncroft

Your smug reply probably didn't help.

Gorgeous_George

SMUG:
Exhibiting or feeling great or offensive satisfaction with oneself or with one's situation; self-righteously complacent: "the smug look of a toad breakfasting on fat marsh flies" William Pearson.


Sorry but I fail to see your point.




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Lyncroft

Agree, probably being a little over sensitive here though it may be the little inserted smiley thing, the name Gorgeous George (you're not Galloway are you?) and the avatar. Incidentally, smug people often don't realise they may come across as being smug. Christ, I think I'm being smug now! LOL.

Gorgeous_George

I nearly always sign off with a smilie. Gorgeous George is a name some of my friends gave me and I rather liked it. Usually, George has already been taken. The avatar is just that, an avatar. It might be due a change soon or I could just not bother with one but it is helpful when scanning threads to find where I left off.

I do not consider myself smug. In general, I'm happy with my lot.

It takes much more than a few words in a post on a Saturday morning to make me think about someone in the way that wecanhelpu referred to me. I find it offensive and reported the post as such. It's the first time since I joined that I have felt that way. If it had been said to my face I would have probably thumped him but would no doubt have regretted it after. Chances are, he would not have said it to me in person.

Gotta go, my keyboard is running out of ink.



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wecanhelpu

I rest my case

Gorgeous_George

A third member for my ignore list.



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wolvoman

I can't see what the fuss is about, the interest on a loan can always be offset against a business or trading expense. This is nothing new, certainly not some loophole that's suddenly appeared.

And think of this example (very common in fact).
If I have to move temporarily for my job and therefore rent out my flat in the interim, why should I not be able to offset the interest on my mortgage against the rent coming in?

Gorgeous_George

Of course it's nothing new wolvoman.

Sadly, these forums are increasingly frequented by people who have huge chips on their shoulders. BTL LLs are blamed for the all the problems with the housing market.

Tenants expect LLs to clean up after they have left. Even the new Tenancy Deposit Scheme has started to come under attack because tenants still don't get their deposit back in full when they leave properties dirty. Of course, there are poor LLs and good LLs. Some people cannot distinguish between the two. There are also good tenants and bad tenants and it is my guess that the percentages are about the same as for LLs.

The housing problem will only be solved by either:

1. Building more houses

or

2. Lowering the population



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Jonbvn

A link from the gruaniad is hardly the basis for unbiased policy regarding BTL. After all, I'm sure that I can provide links from the torygraph showing how wonderful BTL is.

AFAIK this board is for money saving. It is not for grinding whatever political axe someone may have. Unfortunately, this board seems to have become akin to HPC.com