Unjust new landlord tax

[ClothCap]

So why is it not a business if you make money, invest profits and pay taxes?

Many people prefer to rent I have found to preserve their capital and avoid the ties of a mortgage so genuine landlords that operate as a business are not 'scum' - I would assert that you are just bitter.

Landlords that ignore tenants requests and just pocket the money are scum.

[NotAllThere]

unless of course you are a company or a broad...

So NLYUK will be ok with her BTL* empire of illrepute.




* Brothels to let

[vetran]

So NLYUK will be ok with her BTL* empire of illrepute. (Brothels to let)

of course

[Dark Black]

I am right in my understanding that if one only pays basic rate tax then the one can still fully offset the mortgage interest payment against tax for BTL?

[eek]

I am right in my understanding that if one only pays basic rate tax then the one can still fully offset the mortgage interest payment against tax for BTL?

Yep.... However there are some examples where because their actual income figure is based on their income before interest rate deductions rather than after interest rate deductions their income may now be too high to receive tax credits.

[RetSet]

An unexpected consequence of all of this is that (with a bit of planning) I can shift my entire portfolio into a Ltd company without the tedium of having to pay Stamp Duty, AND the valuations for CGT purposes get reset, so saving me £10ks AND we then have a structure in place for Sucession Planning purposes.

And this will all go towards mitingating the amount of Tenant Tax that I would otherwise be forced to pass on.

[Old Greg]

Er cough..

Putting my rent up next year. Let them squeal.

Only in GBP terms. In EUR, you'll still be nursing a loss.

[eek]

Er cough..

Putting my rent up next year. Let them squeal.

Surely you don't have enough U.K. based income to be hit by the tax change?

[northernladyuk]

So NLYUK will be ok with her BTL* empire of illrepute.




* B1thches to let

FTFY:

View Profile: MarillionFan - Contractor UK Bulletin Board
View Profile: northernladuk - Contractor UK Bulletin Board
View Profile: vetran - Contractor UK Bulletin Board

[eek]

An unexpected consequence of all of this is that (with a bit of planning) I can shift my entire portfolio into a Ltd company without the tedium of having to pay Stamp Duty, AND the valuations for CGT purposes get reset, so saving me £10ks AND we then have a structure in place for Sucession Planning purposes.

And this will all go towards mitingating the amount of Tenant Tax that I would otherwise be forced to pass on.

I hope the scheme you are using is better thought through than the ones I've seen.

Most make your typical contractor loan scheme look thought through and some seem to believe that mortgage companies don't get notified by the land registry when ownership is changed.