Get ready for more taxes on BTL

Graham_Devon

realwildone wrote: »

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

How?! Why haven't they bought already if they can suddenly, on a whim, buy a house they are being forced out of?

Gorgeous_George

realwildone wrote: »

Its because of these people aren't taxed that you cannot afford a home. Your bad luck is their good luck.

This is clearly untrue.

All profit from BTL is taxed. I am a standard rate taxpayer and my profit of less than £500 was taxed in 2005/2005 at 22%.

To earn this I spent about 2 weeks cleaning and decorating after my tenants left the house unfit for purpose. Family and friends helped one way or another. None of this work could be offset against tax.

If I sell, CGT is charged with a very limited allowance for taper relief. CGT is charged in the year that the property is sold. I spent 7 months making the house habitable working most weekends. That effort is not taken into account. The profit from HPI would take me into the same tax bracket as people like David Beckham (40%) leading to a CGT bill of £17K.

Do not pretend that BTL is not taxed.



GG

realwildone

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?

Comments like this are crazy. BTL has ruined the lives of thousands of people who now have to rent rather than the excitement of buying and owning their own home. Many more are now subjected to debt slavery. The lives of thousands of people will be improved by the introducing of tax laws to kill off the parasites who prey on these people.

These parasites enjoyed the ability to buy their own first home at one time and now they stop others from enjoying that same benefit.

realwildone

Do not pretend that BTL is not taxed.

I am not saying it is not taxed. I am saying it is not taxed enough. What now seems guaranteed now Gorden is in power. Is that tax relief will be scrapped and there may even be other taxes introduced on the BTL brigade. What a GREAT way to increase taxes, at a time when the coffers need boosting, at an industry which is hated by the majority of the population.

realwildone

Asking questions like that will make 'realwildone's little brain implode.

realwildone, I have a challenge for you. Press 'preview post' before submitting your post. Have a quick read of it and see if it would make any sense to anyone with a bit of intelligence.

If you have any children, ask them to proof read it for you, they will pick up the 'Sillyness' in a second, from the mouths of babes...

Don't get angry with me. Get angry with yourself for allowing yourself to be caught up in the governments social housing and tax scam. I spell good, but type fast and poorly.

thesaint

realwildone wrote: »

Don't get angry with me. Get angry with yourself for allowing yourself to be caught up in the governments social housing and tax scam. I spell good, but type fast and poorly.

I am not at all angry, I am generally happy with my lot.:j

My reference to getting your posts proof-read by the kiddiewinks was more to do with the fact that your brain doesn't seem to engage before you type.

Take your time and think about your flawed logic, you are embarassing yourself more with each post.

Ad

keeperbear wrote: »

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.

Erm... because you disagree with someones point of view you stoop to calling them a crackpot. Nice.

I posted some links to articles which some may find enlightening. I didn't write them. Perhaps all the writers of the linked pieces are crackpots too.

Gorgeous_George

realwildone wrote: »

I am not saying it is not taxed. I am saying it is not taxed enough. What now seems guaranteed now Gorden is in power. Is that tax relief will be scrapped and there may even be other taxes introduced on the BTL brigade. What a GREAT way to increase taxes, at a time when the coffers need boosting, at an industry which is hated by the majority of the population.

Don't mistake a few posters on t'Internet with the majority of the population.

Are we seriously saying that BTL LLs should be taxed more punitively than footballers and millionaires? Most BTL LLs probably pay 40% tax already.

I say they should add VAT to rent. Maybe tenants are the kerb crawlers of the BTL trade (humour).



GG

Ad

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?

The rental market will always exist as there will always be a demand for it. No I don't always believe what I read in the newspapers or for that matter whats shown on the television news.

thesaint wrote: »

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?

The articles linked here are easily found in a couple of minutes. National newspaper websites are regularly updated and easily navigated.

So the writers of the pieces in the links shown here are all crackpots. Insults are the last weapon and the lowest form of reply.

thesaint wrote: »

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

Greed is also a deadly sin.

Gorgeous_George

Newspapers write what they think their readers wish to read. If only they would stick to reporting news maybe I would be tempted to buy one again.



GG