Buy to let stamp duty surcharge and other related news

[BrilloPad]

Much needed landlords?

No-one needs more than one house.

[PurpleGorilla]

Think of the Brownsons

http://www.dailymail.co.uk/news/arti...-campaign.html

[OwlHoot]

Think of the Brownsons

Adam and Megan Brownson mocked at not being able to afford private school | Daily Mail Online

A fair comment under the article:

£190k a year in London is nothing after 40% tax NI and mortagage repayments, council tax and bills. Average 1 bed flat in a half decent area is now £500k. People who live out of London have no idea. Who on earth do you think is financing the generous welfare state and tax credits for under achievers who want to work 2 days a week? These people!

[PurpleGorilla]

A fair comment under the article:

Ah - we should be thanking the Brownsons!

Thanks guys.

[d000hg]

A fair comment under the article:

No, a stupid comment

[GB9]

Poor landlords and their much needed rental properties. Which are only needed because of the >1 million btl properties bought under the Labour government.

And as for their 'business model'! For the vast majority it is an investment, not a business. They should get no more tax relief than someone buying shares.

I'm currently contemplating let to buy, although not sure if morally it's the right thing to do. But if I do I'll pay the tax and not go whinging that I have to pay something that there should never have been a tax break for.

[AtW]

And as for their 'business model'! For the vast majority it is an investment, not a business. They should get no more tax relief than someone buying shares.

I am pretty sure investment businesses are allowed to treat interest on their debt as allowable expense.

[Old Greg]

A fair comment under the article:

Maybe we could hold a benefit concert of a bring-and-buy sale or something.

[DimPrawn]

I am pretty sure investment businesses are allowed to treat interest on their debt as allowable expense.

If they are an incorporated business, yes.

But the BTL "businesses" are just individuals trying to claim it back from their higher rate taxes as employees somewhere.

It's all wrong. Stop the BTL mortgages now. End of. They shouldn't even exist.

If you want to run a property letting "business", form a business entity and get funding just like any other business does through a business loan.

Or pay cash as an individual and become a landlord with your capital.

[AtW]

If you want to run a property letting "business", form a business entity and get funding just like any other business does through a business loan.

Business loans? Try to setup new company and then get one (small 5 digits one) in a bank.