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Ironic I started buying property for a pension
Now My Property Company pays into my pension
you could not make it up DL
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.
You're right, I couldn't make it up. I would have never even considered it an option.
But the same option is available to little old me, not just landlords with large portfolios. However, if you hadn't mentioned it on the odd occasion I would still be blissfully unaware.
I have been forced to change my strategy and go down a road I would not have taken
I am now just using every tool I have to make money without high taxation
at 60 years of age Pensions work well for me but it may not work as well for new landlords or expanding landlords
Excuse my ignoracne, why would this not work for new landlords?
A company may work but compared to the old Personal BTL its a lot less tax efficient
It will avoid S24 but creates a who host of issues if the Director wants an income
If 'new' implies 'young' then you would have to wait a long time to receive any money from a pension. Let's say a new landlord is 25, they can't take out any money for 30 years. And that's with today's rules. By the time a 25 year old reaches pension age, going on past performance, the pension will have been raided by the govt a few times and the retirement age will have been raised to 109
On the other hand if the new landlord is 50, they can take 25% of their pension in 5 years tax free and the remainder immediately but as per normal income and taxed accordingly. Only 5 years of sweating on the govt changing the rules.
I am not sure they will change the Pension rules When the Govt are doing every thing they can with auto enrolment ect
There is far more chance to see changes in BTL
after all we have seen this happen with the past changes
I think both today are a wise thing the problem for most Landlords is they are limited to £3600 year if they have no other earnings
A company Landlord has more scope
im sure you would expect a response or two interested in understanding how you have managed to do this...
Appreciate a PM if you would rather not post
I want to know what the btl market will be like in 2023.Any landlords surviving this long will probably see the market move in their favor.
Some views here