Becoming a first time landlord

AdrianC

Retireby40 said:

Crashy_Time said:

https://www.telegraph.co.uk/tax/income-tax/two-hidden-taxes-cut-landlords-incomes-33pc/

No point posting something that can't be read. Better of copying and pasting it.

When Crashy posts the Telegraph, you can bet it's going to be scaremongering.

And - shock, horror... it is.

Two "hidden taxes"... they turn out to be reduction of child benefit if your BtL income takes you over £50k income, and the mortgage interest relief cap for higher-rate taxpayers. Hold the front page. Oh, and some gibberish about student loans that they don't really explain. Because, obvs, your average BtLer is paying back student loans.

"Everyday “Middle England” investors buying one or two properties will be the worst hit" says the guy who the article's hung off... https://www.rsmuk.com/our-people/chris-etherington - "wide ranging experience having provided advice across the full spectrum of private client issues including cash extraction, family succession, offshore trusts, residency and domicile issues, business restructuring, multi-million pound transactions and inheritance tax planning"

Crashy_Time

AdrianC said:

Retireby40 said:

Crashy_Time said:

https://www.telegraph.co.uk/tax/income-tax/two-hidden-taxes-cut-landlords-incomes-33pc/

No point posting something that can't be read. Better of copying and pasting it.

When Crashy posts the Telegraph, you can bet it's going to be scaremongering.

And - shock, horror... it is.

Two "hidden taxes"... they turn out to be reduction of child benefit if your BtL income takes you over £50k income, and the mortgage interest relief cap for higher-rate taxpayers. Hold the front page. Oh, and some gibberish about student loans that they don't really explain. Because, obvs, your average BtLer is paying back student loans.

"Everyday “Middle England” investors buying one or two properties will be the worst hit" says the guy who the article's hung off... https://www.rsmuk.com/our-people/chris-etherington - "wide ranging experience having provided advice across the full spectrum of private client issues including cash extraction, family succession, offshore trusts, residency and domicile issues, business restructuring, multi-million pound transactions and inheritance tax planning"

The article is about younger BTL wannabes trying to emulate their parents BTL adventures, many of them probably are paying off student loans, and it just underlines that government are keen to start sucking tax from the property bubble as it deflates.