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I can't believe how much stamp duty a buy-to-let investor now has to pay. The last time I invested, I paid £2000 in stamp duty, now it would be £7500 for a £200000 property.
Have I calculated correctly? I take it that there are no loopholes and as soon as the words buy-to-let are mentioned, this red flag gets waved?
I can understand people being put off from investing as the odds seem to be further stacking up against making a decent return!
There is now 3% extra stamp duty to pay if It's not your only home. I believe this accounts for the difference.
I think the whole idea is to put landlords off investing...that is literally the point of it.
i haven't purchased a property since Osbourns Law
over two years longest period in over 20 years of being a full time Landlord
Learn Change and Adapt ?????
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This is just another way of extorting money from the general public by the government. This one was introduced by Osborne, but personally it makes no difference to me whether it was introduced by the Tory idiots, the Labour idiots, the Lib Dems or whatever party. I've lost faith in MPs in general, most of whom come from a privileged background and have never done a real job in their lives, unlike most of us who have had to work in the real world and attended the school of hard knocks followed by the university of life.
Stamp Duty is an evil form of legalised theft which should never have existed. Let's face it, if I sell my house to Joe Bloggs, or buy a flat off his brother, that's a private transaction that has got nothing to do with the government. It's none of their flaming business.
I agree with your views on Politicians I will never vote again I will just spoil my vote
The long and short is they don't want Personal Owned BTL
So its time to move on I have no intention of leaving the PRS but the days of 25% deposit 75% Mortgage are now behind me
I will not invest in BTL pay and extra 3% Stamp Duty and pay over 50% Tax on profits for taking the risks of an every day Landlord and the responsibility
That go along with the Job
Much easier Fish to Fry way from BTL in 2018
It's good to hear another potential candidate for the 'none of the above' vote Markdar!
As you say, they're all idiots, and I as well trust none of them and will be spoiling my paper each General Election.
'That dreadful weasel' (Osboune) is a classic example of knee-jerk politics, and 5 mins after the ink has dried on his decisions he is booted out of office! Funny how whoever is in place now (I can't be bothered to find out any more such is my disliking for the game) hasn't bothered to reverse the Stanp Duty decision?
The SDLT being applied to house sales is to me also an invasion into a private transaction. With car prices increasing are we to soon seen tax applied to high end private car sales between two individuals? Or maybe the 200K floating gin palaces that some of the MP's use as homes?
They'll just add VAT to all second-hand car sales to kill off that market as well!
Go up to a £300,000 property and it almost doubles to £14,000. Stamp duty is a big problem in the SE, not only on BTL but also on home moves.
Again the Tax changes hits hardest in the SE
I still think its very clever what the Govt Has done
with PRA Stamp Duty and S24