Browse All Tribes or choose a Tribe below:
By signing up I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Sign Up With Facebook, Twitter, or Google
By signing up, I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Don't have an account? Sign Up
To reset your password just enter the email address you registered with and we'll send you a link to access a new password.
Hello, please comment on an imaginary scenario if you wish to b2let purchase in own name will become 2nd home at £90,000 is the 3% sdlt chargable on the £90,000 or (£90,000 – £40,000) ? and if the “2nd home” is bought under a ltd then i assume theres no cgt as its not a “2nd home” if you see what i mean.
It is charged on the £90,000.
The 3% SDLT surcharge is charged on all properties bought by ltd companies (where the price is over £40.000).
CGT is also charged on properties bought by ltd companies.
I think most BTL Landlords work in other areas and Being a Landlord is a side line ie a way of building up a pension
Most of the above will have a salary and will use there tax-free allowance and tax banding in there full time employment
When S24 has full effect this sector will feel the full impact it wont take much to push them into higher rate tax and it may well have the result that they make no profit from BTL
The cream of BTL is capital growth and some may feel that the Capital growth is worth staying in the game and that's if interest rates don't rise which makes S24 worse
The Professional BTL will survive and will grow via Company formations but as we all know it has its drawbacks compared with BTL in your own name
The next five years will be interesting to see how this pans out
I think we will have the same number of rental property but they will be owned by Company Landlords
Will we have a Crash I feel that if we do see a slide in coming years it will be in the areas who have gained most since 2007
Other areas will stagnate
The UK property market is in a Phoney stage at present We all know whats coming but nothing at present has changed
BRIX and Imagination will all so have effect again I believe it will be the SE who will see the biggest change
Benefit Caps will also effect the SE
S24 could not have been planned for such a worsted time than Now
It may well cause a crash in the market along with all the other measures the govt has taken
The Dream of the level playing field may turn into a very very bumpy field indeed and it will not be easy to cross
Affordability is the key capital growth tighter mortgages will slow down the stream of cash needed
If you are going to stay in the market buy on yield and hope for capital growth don't rely on it
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
We will probably still have the large number of landlords who do not have mortgages (over half currently), since S24 has no effect on them.