Buy-to-let investors: 'Let us off capital gains tax and we'll sell to first-time buye

[Andy2]

When I claimed JSA for 3 weeks a couple of years ago I think I could have had £500pm as a single person for the rent, which is ~80% of what I actually pay for a 2 bed house. But then if they'd said I could have £0pm and I'd had to go and live with my Mum or something, then there would have been one extra house free.

Not wanting to sound like an attack on benefits scroungers, but clearly it's a factor.

Here is an idea. Could two single persons on JSA , live in each other's house and pay each other's mortgage.

[d000hg]

When I claimed JSA for 3 weeks a couple of years ago I think I could have had £500pm as a single person for the rent, which is ~80% of what I actually pay for a 2 bed house. But then if they'd said I could have £0pm and I'd had to go and live with my Mum or something, then there would have been one extra house free.

Not wanting to sound like an attack on benefits scroungers, but clearly it's a factor.

I think quite a lot of people do that voluntarily; but making it the law sounds a bit of a hassle to enforce. Nobody should be required to take you in just because you're related to them and if the law says "you only get benefit if nobody will put you up" you say "nobody will put me up" chasing it up would not be easy.

[AtW]

Lots of people can't afford to pay high rents. So the government pays it for them.

Lots of people have to forfeit their future in order to afford current rents and other essential living costs - gas, electric, food, transport.

Not many of them get anything from Govt other than high taxes.

[d000hg]

It's tough when you're rich and have to pay a lot of tax, isn't it?

[AtW]

It's tough when you're rich and have to pay a lot of tax, isn't it?

It is - puts you off from continuing to make more money

[PurpleGorilla]

It is - puts you off from continuing to make more money

But the invest - mortgage - reinvest model has meant BTL hadn't paid any tax!

THAT is the big problem!

[vetran]

Here is an idea. Could two single persons on JSA , live in each other's house and pay each other's mortgage.

not if you are closely related apparently but it seems to happen with those in large families.

[vetran]

But the invest - mortgage - reinvest model has meant BTL hadn't paid any tax!

THAT is the big problem!

so they don't pay income tax on profit or capital gains on sale?

[meridian]

so they don't pay income tax on profit or capital gains on sale?

Didn't you read the title of this thread?

[vetran]

Didn't you read the title of this thread?

currently they pay capital gains tax , the suggestion that due to a radical change in taxation to their business model many may wish to exit BTL and if the government don't want all the BTLs flogged to a tax haven and left empty then they should make it attractive to sell BTLs to first time buyers.

The response seems to be an emotional "BTL landlords should be strung up the filthy capitalists" rather than a pragmatic well why don't we give them a tax incentive to get them to sell to first time buyers that makes sense.

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