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Idea to balance up mortgage relief
iom_dave
Posts: 13 Forumite
Currently I could BTL a 4 bed, rent out 2 other rooms and reclaim my half interest and use rent a room relief - seems a bit stacked in favour of BTL (ignoring price rises/falls and stabilising).
Or I could be a 2 bed flat, live in it and not reclaim interest and be much worse off
I suggest that the interest relief on resident homes rented out is changed from being against rent income to CGT (as if it is part of the cost of purchase).
This would have many positive aspects for Gordon Brown:-
1. Claim he's not removing interest relief just moving it.
2. He would receive in a load more tax straight away (rental).
3. LL try to avoid CGT on their properties, lets let them do it legally!
4. Would prevent the distortion in the market which currently exists.
5. Would have no effect on long term landlords who own the houses they rent.
6. It would be seen as helping hard working families.
Any thoughts?
Or I could be a 2 bed flat, live in it and not reclaim interest and be much worse off
I suggest that the interest relief on resident homes rented out is changed from being against rent income to CGT (as if it is part of the cost of purchase).
This would have many positive aspects for Gordon Brown:-
1. Claim he's not removing interest relief just moving it.
2. He would receive in a load more tax straight away (rental).
3. LL try to avoid CGT on their properties, lets let them do it legally!
4. Would prevent the distortion in the market which currently exists.
5. Would have no effect on long term landlords who own the houses they rent.
6. It would be seen as helping hard working families.
Any thoughts?
0
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