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

[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

[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.

[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]

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]

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.

[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)?

[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.

[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 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.

[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

[MarillionFan]

Most BTL landlords I know are tight as @rseholes money grubbing snooty s so anything that hurts them gets my vote.

Jeeves! Take this common oik out and whip him with the birch.

[Zero Liability]

Does it not cease being a free market when it is targeted by government action which changes the shape of the market ?

It hasn't been one for decades now.

[FatLazyContractor]

Most BTL landlords I know are tight as @rseholes

You sound very inexperienced

[vetran]

Most BTL landlords I know are tight as @rseholes money grubbing snooty s so anything that hurts them gets my vote.

Just watch rents & evictions go up.

Sorry if you have had bad experiences.

[DimPrawn]

you will not get cheap houses, the people doing BTL will change from middle class couples willing to do a bit to help they will be replaced by hard nosed businessmen who will charge to do anything having grabbed bargains as auctions with existing tenants. The renters will suffer as demand will exceed supply, you will see rents skyrocket. #TurkeysVote4XMAS

Most BTL landlords I know are tight as @rseholes money grubbing snooty s so anything that hurts them gets my vote.