Get ready for more taxes on BTL

thesaint

Ad, I bet the Buy to let market will be still here in 10 years time, do you believe everything you read in the papers?

Instead of spending all of your time (4-5 hours?) of each day looking for articles that support your crack-pot theories, why not spend half of it (2-2.5 hours) on looking at ways of bettering your life?

Envy is not one of the 7 deadly sins for no reason.:beer:

keeperbear

thesaint wrote: »

Ad, I bet the Buy to let market will be still here in 10 years time, do you believe everything you read in the papers?

Instead of spending all of your time (4-5 hours?) of each day looking for articles that support your crack-pot theories, why not spend half of it (2-2.5 hours) on looking at ways of bettering your life?

Envy is not one of the 7 deadly sins for no reason.:beer:

Completely agree with your view of the poster called "Ad". He wants to ban/tax/outlaw anything that he doesn't like. A total crackpot.

Graham_Devon

lynzpower wrote: »

I dont know why the rejoicing here if this happens.

I can see where I live being sold. And what I have to move somewhere else ( costing me admin charges, credit charges) plus moving costs of vans ands the like ( few hundred quid) to rent somewhere which is likely to be more expensive

I dont know WHY so many MSErs seem to think that constricting the market,taxing LLs more, makes it any better for moneysavers like me who cannot afford mortgages at the current state of play.

Could you explain this one to me please?

It simply doesnt, and this is what people can't see. A mass selling of BTL homes would cause panic, pushing housing up even further. Then you have all the first time buyers still living with parents / in groups, who would see this, and push themselves further to get the BTL sales quicker, pushing the renters out of the market further.

I've said it on another thread slaming BTL. Force them to sell up and your forcing people to buy their own homes. That means maybe tripling the number of people needed to buy a house....that means houses become more valuable.

People don't seem to see this, they think if BTL's sell up, housing will come down loads, as there will be loads of properties avaliable.....but they are not thinking of the people who are currently renting that property....they have to find somewhere now aswell as the first time buyers.

What would all those renting actually do if their landlords sold simutainiously (sp) over the space of 3 years because the taxman has pushed them to it? People think we have a 'have and have not' now!? Christ!

amcluesent

>A mass selling of BTL homes would cause panic<

I recall reading that Robert Tchenguiz was putting together a £500M fund to buy properties from distressed BTLers at fire sale prices.

keeperbear

realwildone wrote: »

There now seems to be a massive push from most of the media and some polititians to stem the flow of BTL.

It now looks highly likely that there will be more taxes for the BTL brigade or at least an end to taper relief.

Now is the time to dump your BTL and move into something else. Any later will be too late.

The government has done what they intended to do. Hold up the housing market and increase social housing at the publics expence. Now they can target that same group of people (which most of the population hate) with a new set of taxes.

Funny how I have seen no anti-BTL articles in the Financial Times. "Most" of the population do not care about BTLers. I know I don't. Who cares if they make money? If property falls in value this small amount of media interest in bashing BTL landlords will instantly cease.

Rather than quote such media hyped nonsense, can you explain how BTL landlord's should be taxed? If I buy multiple rental properties through a property company, explain how you would tax my company differently from say, a construction company?

In addition, any government trying to tax the pensions of BTLers would lose office. Why? Because the media would call it a stealth tax on ALL PROPERTY OWNERS. As a property owner myself, why can't I rent out my property for a short period without being hit by tax penalties? Finally, do you know that property owners selling their main residence pay NO TAX on any gain, whilst BTLers pay capital gains tax on ALL their gains from a sale? I say let's tax all property owners when they sell their houses!!!!

thesaint

amcluesent wrote: »

>A mass selling of BTL homes would cause panic<

I recall reading that Robert Tchenguiz was putting together a £500M fund to buy properties from distressed BTLers at fire sale prices.

Yes, and Tony Blair went to war looking for weapons of mass destruction.

The similarity is they're both waiting in hope...

Graham_Devon

keeperbear wrote: »

Funny how I have seen no anti-BTL articles in the Financial Times. "Most" of the population do not care about BTLers. I know I don't. Who cares if they make money? If property falls in value this small amount of media interest in bashing BTL landlords will instantly cease.

Rather than quote such media hyped nonsense, can you explain how BTL landlord's should be taxed? If I buy multiple rental properties through a property company, explain how you would tax my company differently from say, a construction company?

In addition, any government trying to tax the pensions of BTLers would lose office. Why? Because the media would call it a stealth tax on ALL PROPERTY OWNERS. As a property owner myself, why can't I rent out my property for a short period without being hit by tax penalties? Finally, do you know that property owners selling their main residence pay NO TAX on any gain, whilst BTLers pay capital gains tax on ALL their gains from a sale? I say let's tax all property owners when they sell their houses!!!!

They already do in a way. Just tax the buyer instead, but many people selling pay the buyers stamp duty. Thats a big enough tax me thinks!!

And unless the seller is moving to another country, or moving into a rental, they are going to have to pay stamp duty on their new home too. So thats a tax for buying / selling.

If of course it's the children selling after their parents have passed away, they could be faced with the death tax, which is even worse...

realwildone

Both, me because tomorrow is too late to sell and i'm stuck with my properties, and my tenants because I will be forced to sell for 40% of the market value and they will have to live on the streets.

Sorry but they don't live on the streets. They buy the houses you are forced to sell for 40% less.

keeperbear

The media have certainly turned and seem to have the knives out for the 'Buy to let' crowd. One year ago these articles were unheard of. :eek:[/quote]

You TWO sources include the Daily Mail, a rag which provides ranting and unfounded headlines every week. "The Great Housing Crash Crisis" one week, "Filthy rich homeowners force homeless FTBers to live on moon" the next.

realwildone

Funny how I have seen no anti-BTL articles in the Financial Times. "Most" of the population do not care about BTLers. I know I don't. Who cares if they make money? If property falls in value this small amount of media interest in bashing BTL landlords will instantly cease.

http://observer.guardian.co.uk/cash/story/0,,2109813,00.html

just because it is not in the FT doesn't mean it will not happen. All mainstream press are carrying this story today. It will happen.