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  • Buy-to-Let

    New to BTL - is this a good deal?

    That is a bit worrying. Can you explain how. Do you think a Limited Company is better than personal buy to let purchase because of the S24 tax impact
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    See this thread to answer that:

    The BIG tax issue: Should I incorporate?

    Ideally though, you should seek professional tax advice bespoke to your personal circumstances ...

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    This investor proves the Point I have made for a long time

    Borrowing Thousands of pounds and in reality have no Tax education

    GOD HELP THIS SECTOR  if in 2019 we have landlords like this and still buying property who haven't a clue what there doing

    Sole Trader indeed ?????????? I dont think so


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    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.


    As a professional accountant I am aware of S24. The impact will vary with personal circumstances and it's not a one jacket fit all.  I know I haven't disclosed my personal circumstances, so it's difficult for you to be certain whether S24 will impact me or not. I am only gathering information to help me make my final decision on this investment. Many thanks
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    OK I believe you

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    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.

    If you dont understand S24 STOP NOW

    Seek advice and once you have done that and you understand which strategy your going to use and Why you want to use that Strategy

    Move forward

    Its alarming to meet a Landlord who at your point of business has not got the S24 Message in 2019

    BTL is no longer the simple game it was so get some knowledge

    Your Borrowing a lot of cash Think Hard ???

    DL



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    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.


    Give the team at Property Tribes Financial Services a call and let's have a chat about your options. 01206 654444 Smile
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    Financial Consultant working with Property Tribes Financial Services.

    BTL Specialists.

    Always cover your debts, don't leave them for your loved ones to pick up. Ask me how - austyn@ptfs.co.uk     07500 871209

    This sort of question is so personal  and to be fair trying to give an opinion is silly

    I know nothing about you what your background is what rate of tax you pay

    and most important what your dreams and aspirations are

    You must do whats right for you and what you feel coftable with

    Go with your gut feelings you will make mistakes we all do but thats how you grow as a Landlord is all about


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    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.


    As others have said, you have some way to go to make sure this purchase is right for you.

    In terms of value, when you say that similar properties are "Selling for 270k", have you checked that they have actually sold for that amount or are just on the market for that?  There can be a world of difference and the mortgage valuer will base value of what has actually transacted, not asking prices.

    You really do need to get advice on rents and the local demand from other agents; the selling agent does not have your best interests at heart.  They will not be liable to you for their informal advice - remember they are acting for the seller.

    Government policy seems to support more corporate landlord operations, rather than individuals, so you do need to think about using a limited company.  This is a bit more unwieldly and costly than owning property in your own name but, at the moment, is more tax efficient.  You need to run through your personal figures with an accountant who understands these matters.

    As for ROI, you need to decide what you are happy with.  Are you going for cash or growth?  Some investors (me!) have a modest yield (c4%) but own houses have grown massively in value over the last 25 years.  Funds are then accessed by re-mortgage.  However, others go for high yields to put cash in the bank from annual profit.  Often lower yields don;t get such good capital growth.  It all depends on your cash requirements, borrowings, amount of time you are wiling to spend, attitude to risk, to name a few factors.

    Finally, you need to be wary of flats.  I think Vanessa has given you some good reasons.


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