Avoiding second home Tax

Dave210782

AdrianC wrote: »

There is a difference between "saving money" and "avoiding the tax you owe because of your life decisions".



No, it doesn't. It was rumoured that it might, when it was first announced three years ago, but that never happened.

No such thing.

Nobody - and I mean NOBODY - ever woke up and looked surprised to find they'd signed a tenancy agreement on a house they didn't know they owned. Every single landlord made a deliberate decision to start in the residential property letting business. Nobody ever says they're an accidental window cleaner, or an accidental builder, or an accidental IT consultant, or run any other small business accidentally.

The term is just an excuse to try to deny the legal responsibilities inherent in starting a residential property letting business.

But, yes, it is a tax intended to quell the rise in BtL. That's precisely what it is. It was clearly stated to be such when it was introduced in the 2015 budget. And?

Oh, dear, what a pity.

Are you forgetting the RtB discount in that, p'raps?

There's a certain irony there, y'know.

Cheers big man👍 Helpful is an understatement” . Iv spoke to a Financial advisor and iv got solution that will work now 😁. “Thanks for your helpful input though”your a real asset to this forums. Keep up your good work. :rotfl:

mrschaucer

Reassuring to know that financial advisors are available between 9.30pm Saturday evening and 3pm Sunday afternoon.

Keep_pedalling

Dave210782 wrote: »

Cheers big man👍 Helpful is an understatement” . Iv spoke to a Financial advisor and iv got solution that will work now 😁. “Thanks for your helpful input though”your a real asset to this forums. Keep up your good work. :rotfl:

As this forum is all about helping others would you care to share this advice?

Keep_pedalling

mrschaucer wrote: »

Reassuring to know that financial advisors are available between 9.30pm Saturday evening and 3pm Sunday afternoon.

FA = bloke down the pub.:beer:

Murphybear

Dave210782 wrote: »

Cheers big man👍 Helpful is an understatement” . Iv spoke to a Financial advisor and iv got solution that will work now 😁. “Thanks for your helpful input though”your a real asset to this forums. Keep up your good work. :rotfl:

Who is "iv" :rotfl:

G_M

Murphybear wrote: »

Who is "iv" :rotfl:

Well this is number v :

Crashy_Time

AdrianC wrote: »

There is a difference between "saving money" and "avoiding the tax you owe because of your life decisions".



No, it doesn't. It was rumoured that it might, when it was first announced three years ago, but that never happened.

No such thing.

Nobody - and I mean NOBODY - ever woke up and looked surprised to find they'd signed a tenancy agreement on a house they didn't know they owned. Every single landlord made a deliberate decision to start in the residential property letting business. Nobody ever says they're an accidental window cleaner, or an accidental builder, or an accidental IT consultant, or run any other small business accidentally.

The term is just an excuse to try to deny the legal responsibilities inherent in starting a residential property letting business.

But, yes, it is a tax intended to quell the rise in BtL. That's precisely what it is. It was clearly stated to be such when it was introduced in the 2015 budget. And?

Oh, dear, what a pity.

Are you forgetting the RtB discount in that, p'raps?

There's a certain irony there, y'know.

"Accidental Landlord" just describes people who thought they could sell a house easily, and then find no one wants it (at the price) they then find themselves in a position they didn`t expect to be in, which kind of is a bit like an accident. They are not bad people, just misguided about the value of their house for the most part.

AdrianC

Crashy_Time wrote: »

"Accidental Landlord" just describes people who thought they could sell a house easily, and then find no one wants it (at the price) they then find themselves in a position they didn`t expect to be in, which kind of is a bit like an accident. They are not bad people, just misguided about the value of their house for the most part.

I know why people use it. They're wrong, and in denial about their deliberate choice.

I'm quite surprised you seem to be supportive of that denial.

gettingtheresometime

AdrianC wrote: »

I know why people use it. They're wrong, and in denial about their deliberate choice.

I'm quite surprised you seem to be supportive of that denial.

I thought it was about people wanting their cake & eating it.

MEM62

Dave210782 wrote: »

I find it’s just another tax to penalise accidental landlords.

It is! That is because the Government is trying to discourage individual BTL landlords.

AdrianC wrote: »

No such thing.

The term is just an excuse to try to deny the legal responsibilities inherent in starting a residential property letting business. .

Yes, there is. Accidental Landlord is the accepted term for Landlord that has rented property that was once their home. Such as in my case where I bought a house with my OH but kept the flat that I lived in as a single man. The terminology is not intended to imply that that you became a landlord accidentally and it certainly does not alleviate you from your full duties and obligations as a landlord.