Get ready for more taxes on BTL

Guy_Montag

It scares me that I'm tending to agree with GG more these days (or is he agreeing with me more?)

Let's build some new towns & let some villages grow, rather than leaving them to stagnate & become nothing more than retirement & holiday
villages or dormitory towns. Though I'd like it if we could avoid building on any more playing fields & parks.

Those outside the S.E. can have zero rated stamp duty for the first three transactions & zero rated business rates for the first decade, tapered in for the following decade.

mystic_trev

thesaint wrote: »

So when the House Price Crash comes:rolleyes: a seller will have an extra 2 months of mortgage payments to endure before allowing the whole market to take a chance to buy their property?

You've highlighted an interesting problem with BTL investment Saint. Unlike other 'geared' investments where you can close positions quickly, with BTL you can't, which is one of the reasons it makes it a dangerous situation to be in at the moment.

HugoSP

I like the idea of the government providing more tax breaks for one or poss two BTLs.

Maybe we could take this a stage further and put the homeowner at an advantage over BTLs by incentivising the purchase of certain types of houses for owner occupiers.

There are some really good suggestions on how to help homebuyers split over three threads at the moment, maybe one could be started to capture them all on.

Jay_B_2

Somerset wrote: »

- Not everyone will be able to buy a property. That might sound harsh in today's aspirational society ( I heard Gordon Brown rabbit on about it ) but it's a fact. Not everyone can afford a Porsch or Greek villa etc. It's just life. If you are a road sweeper in Central London ( no offence to road sweepers ) it just isn't going to happen, whatever market correction happens. That's where social housing comes in ... or should.

Im a road sweeper (no offence taken) . I know that I wont get a Porsch or Greek villa and that a lot of people that walk past me every day (and even younger than me) probably will have these things one day, or even now! I do get jealous sometimes - but the only way Im gonna get my £850 a month is to put my 45 hours a week in.:o

Guy_Montag

Jay_B wrote: »

Im a road sweeper (no offence taken) . I know that I wont get a Porsch or Greek villa and that a lot of people that walk past me every day (and even younger than me) probably will have these things one day, or even now! I do get jealous sometimes - but the only way Im gonna get my £850 a month is to put my 45 hours a week in.:o

(no offence to road sweepers)

I find it odd, that you, who seem fairly articulate, can spell & use correct grammar (though there's a couple of missed apostrophes in there) are working as a road sweeper, when there's plenty of people who can't do any of those things in clerical jobs, which are presumably better paid (or at least you can sit posting on MSE all day).

Jay_B_2

I've been off all week - first since May - and I needed some info on getting my bank charges back (not hundreds, only £90).
I was OK at English at school but not much good at anything else. I use my computer a lot too. I have done an office job. The pay wasn't that good and I was made redundant after six months. I had already been a road sweeper before and the lad at the job centre came up with a vacancy. It was with a private firm which paid less for more hours. Some of the people who work there on the same job as me seem quite bright but they dont seem to get many interviews for better jobs.

tsstss7

Gorgeous_George wrote: »

Some good ideas there pinkshoes.

Maybe charging VAT on rent would be the answer. The VAT threshhold is about £60K so any LL with annual rental income of £60K+ would have to charge VAT on all his rentals. This would limit the number of houses people could own. Not sure why this really matters though but it would surely see the end of housing associations.


GG

Interesting proposition not true about [EMAIL="HA@s"]HA's[/EMAIL] paying VAT though, they are non-profit making orgs and exempt as far as I am aware!

Not sure that the number of houses owned by a LL is the most relavant factor either - the worst BTL rentals I've seen when house hunting are those where the LL has obviously gone into it unprepared and not got much of a clue (the best was when she'd obviously painted over a damp patch to hide it and it was starting to show through already!) a professional LL is usually a better bet (not EA's though - too many charges). A professional LL is also very unlikely to be the slightest bit concerned about the next house price crash....

Gorgeous_George

If I pay myself £1,000 per week, I'm non-profit making too.

If HAs didn't make a profit, they wouldn't exist.



GG