Buy to let stamp duty surcharge and other related news

[DimPrawn]

I still don't understand why the Tories don't have a much higher rate of CGT for 2nd homes/ BTL property.

So primary residence is zero rated CGT, and make investment property rated based on how long you've owned the property. The longer it is held, the lower the rate.

Tories get lots of juicy extra tax from those that are in it for the short term...

[PurpleGorilla]

Buy to let stamp duty surcharge and other related news

So why do the 98% put up with it?

Apart from they being mollified with beer and football, and them being sheep....

Because house prices are going up.

... For now.

[jamesbrown]

I still don't understand why the Tories don't have a much higher rate of CGT for 2nd homes/ BTL property.

So primary residence is zero rated CGT, and make investment property rated based on how long you've owned the property. The longer it is held, the lower the rate.

Tories get lots of juicy extra tax from those that are in it for the short term...

I can definitely see that coming at some point.

[Zero Liability]

I'm about as free-market as anyone, but I don't really have a problem with this. In recent years, everyone and their dog has aspired to dabbling in BTL, and many of those people don't have a clue about what it takes to be a landlord. Couple that with the religion of home ownership in this country and the obvious supply/demand issues, I think it's reasonable to constrain BTL for the average punter who, let's face it, is simply looking to make a quick buck or views housing as some sort of pension.

It's a case of one intervention trying to fix the problems caused by other interventions. If it helps prick the housing bubble a little, that may be a good thing.

[BrilloPad]

It's a case of one intervention trying to fix the problems caused by other interventions. If it helps prick the housing bubble a little, that may be a good thing.

The problem with bubbles is they do not deflate. They burst....

[PurpleGorilla]

The problem with bubbles is they do not deflate. They burst....

[IR35 Avoider]

I haven't looked at it closely, but I think the crowd-funding website propertypartner might be a sensible way for the masses to be involved in buy-to-let. Each property has an associated company with shares allocated to multiple investors, admin of the companies highly automated, professional management of the properties. No risk to investors of losing more than they've invested. Much easier to diversify as you can own tiny fractions of many properties.

Residential property doesn't interest me as an asset class at the moment, but if there were a crash (and I could hold private company shares inside my SIPP) I might change my mind.

[d000hg]

The problem with bubbles is they do not deflate. They burst....

The problem with analogies is they're rarely 100% accurate.

[AtW]

I still don't understand why the Tories don't have a much higher rate of CGT for 2nd homes/ BTL property.

So primary residence is zero rated CGT, and make investment property rated based on how long you've owned the property. The longer it is held, the lower the rate.

Tories get lots of juicy extra tax from those that are in it for the short term...

CGT will be "reformed" in March 2016...

[AtW]

I thought I was in the 0.00001% Global Hyper Elite.

I'm gutted.

You'll truly feel that you were when Osborne is finished with the likes of you... should have gone to Eton!!!