Not a time to be a buy-to-let landlord

Pennywise

Tax relief on property borrowings is an anomaly anyway. You don't get tax relief if you borrow to buy any other kind of investment, such as shares, so why for property?

mystic_trev

Electrum wrote: »

Why do you think that you, as a speculator and an investor, deserve special treatment - or even equal treatment. What do you bring to the party?

I pay my Taxes so others can live on Benefits.

mayonnaise

Electrum wrote: »

What do you bring to the party?

Those taxes that keep you housed and fed?

Electrum wrote: »

Im on JSA and over the benefits cap.

Basically because of housing benefit and Child tax credits I get my total benefits reduced by the amount of JSA I should be getting before the cap.

So If I do a little work here and there, and declare the earnings, it would be taken off my JSA would it not? But my benefits wouldnt actually go down as long as I only earn a little, I would still be getting £500week.

Would it complicate my claims for housing benefit or would I even need to tell them?

purch

Electrum wrote: »

Why do you think that you, as a speculator and an investor, deserve special treatment - or even equal treatment. What do you bring to the party?

So your beef isn't just against Landlords ?

It's anyone who has any capital, and is using it to make an income.

What about Pensioners. Can they make a return on their hard earned funds ?

Aberdeenangarse

Electrum wrote: »

I have not raised them to work their butts off so idle landlords don't have to.

You seem to have done OK

pollypenny

I was astounded to hear that BTL landlords had tax relief on their mortgage.

Anyone buying their own home doesn't get a bean!

cells

pollypenny wrote: »

I was astounded to hear that BTL landlords had tax relief on their mortgage.

Anyone buying their own home doesn't get a bean!

it isnt a tax relief its a cost which is deducted which is why they didnt apply it to companies who would have fought back

i reckon the reason they went for 20% 'credit' is that banning it altogether would have been seen as what it was

mwpt

cells wrote: »

it isnt a tax relief its a cost which is deducted which is why they didnt apply it to companies who would have fought back

i reckon the reason they went for 20% 'credit' is that banning it altogether would have been seen as what it was

The interest I pay on my home mortgage is also a cost to me.

Jason74

cells wrote: »

i reckon the reason they went for 20% 'credit' is that banning it altogether would have been seen as what it was

Perhaps. I suspect that the total ban is coming sooner rather than later though, and rightly so imho

cells

mwpt wrote: »

The interest I pay on my home mortgage is also a cost to me.

final consumption is not a business.
small time BTL was an easy target hence why they did not put the rules on companies which can still deduct costs of interest