'I own 75 buy-to-let properties but I haven't deprived other buyers'

[centurian]

1.73%

Buy To Let Mortgages - Compare The Best Buy To Let Mortgage Rates


4.95%
Commercial Mortgages | Commercial Mortgage Rates - Moneyfacts.co.uk

And yet there will be an endless queue of people willing to hand over an extra £2000 pa in interest to the bank, plus £500 to an accountant, rather than an extra £1000 in tax to HMRC

[LondonManc]

I still think that most BTL investors will weather the storm and cope with slimmer margins and constant occupancy, mainly because most of them got into it as a long term investment/pension, not as a rental profiteering game. As long as the rent is still paying for the house, they'll not force the issue and risk vacancies.

[vetran]

I still think that most BTL investors will weather the storm and cope with slimmer margins and constant occupancy, mainly because most of them got into it as a long term investment/pension, not as a rental profiteering game. As long as the rent is still paying for the house, they'll not force the issue and risk vacancies.

I hope you are right, though many may have done their calculations under the old regime and are too close to the edge.

[LondonManc]

I hope you are right, though many may have done their calculations under the old regime and are too close to the edge.

If I had any BTL properties, I'd suck it up. I see property as long game.

[yasockie]

Rental income totals £330,000 per year. The cost of mortgage interest is £80,000 with maintenance, insurance and other expenses coming in at £100,000 to £120,000.

That gives a taxable annual profit of between £130,000 and £150,000.

His tax bill today is around £50,000. When the new taxes are fully applied he will pay an extra 32pc in tax, with his bill rising to almost £70,000.

He would then be paying a tax rate of 44pc. "

75 fooking properties, how is that sensible to do without wrapping them into Ltd?

Ah, that's because banks won't give lend to Ltds...

So what's preventing him from selling the non-mortgaged portion of his empire to his own Ltd Co, possibly at a high price (to ensure that when property price do go up in the future ha can sell them back without an apparent CGT taxable profit)?

[BrilloPad]

If I had any BTL properties, I'd suck it up. I see property as long game.

+1. Its not too late to get in. If I had any money I would.

Its a moral outrage that young people are denied house buying opportunities. But they don't vote. They just whine on social media. So f**k em.

[DimPrawn]

Its a moral outrage that young people are denied house buying opportunities. But they don't vote. They just whine on social media. So f**k em.

^ This. Make money, help your own family. Fook the whining selfie-stick holding iCrap generation. We are replacing them with useful immigrants anyway

[BrilloPad]

^ This. Make money, help your own family. Fook the whining selfie-stick holding iCrap generation. We are replacing them with useful immigrants anyway

Those immigrants are far more likely to wipe my 4rse when I get into an old peoples home. And cheaper. Thank god the young ones are stupid.

[DimPrawn]

Those immigrants are far more likely to wipe my 4rse when I get into an old peoples home. And cheaper. Thank god the young ones are stupid.

Celebrity Big Brother, Keeping Up with the Kardashians, I am Cait.

The staple of the Instagram, @rsebook generation. Rent fodder for life.

[AtW]

So what's preventing him from selling the non-mortgaged portion of his empire to his own Ltd Co, possibly at a high price (to ensure that when property price do go up in the future ha can sell them back without an apparent CGT taxable profit)?

Two things:

1) he'll have to pay CGT on any capital appreciate he had
2) Ltd will have to pay stamp duty on full market value
3) where will newly formed Ltd find £ 6 mln to pay for property? Nobody will lend it that money

IMHO