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I am sure most landlords would not agree but in may ways Mr Osborne has probably done me a favour
Most of my family's BTL portfolios are now in LTD companies
We are in the fortunate position of having other investment income outside of the companies which enables after 19% CT on profits us to use the retained income to purchase more property ( commercial is now our current aim)
Our children and grandchildren have been issued "alphabet" non voting shares which will enable them to benefit from any future growth in the value of the companies
40k a year directors pension contributions rather than the measly £2880 (£3600 netted up) maximum as non incorporated individuals
And i am doing what the goverment wants me to
You and I think very alike
osbourne changed my way of working but now I think I am the better for it
just a lot of landlords outside PT just haven’t a clue
my tax advisor told me only 5% of his clients have done something about s24
most just are sticking there heads in the sand
s24 is an opportunity to shake out a bussiness to see if it’s strong enough
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.
Yes we are at the been there done it and got the tee shirt stage..
Be interested to know if you were considering starting out from scratch today you would actually go ahead
I have no regrets
but would I levarge up today I don’t think I would
I think we are going to see very low capital growth probably for the rest of my life
the differance in 20 years is stark
what was achieved in the past will not happen going forward
yeild is king good cash flow and reinvest in different sectors
Could not agree more
Its time to bullet proof against interest rate rises falling property values further government legislation and falling rents
The government will wake up but it will have damaged the market
europe was never on the radar when s24 was announced and stamp duty
the market could go in free fall for all property investors
cheap money has created a false market and money willl not be cheap going forward
Many thanks for all the replies,
I wish you all a Healthy, Wealthy and Prosperous New Year
I will look further into the pension route and thanks for the book recommendation, although I am not sure I can quite bring myself to thank Mr O, maybe he just wasn't quite as bad as I first thought. One things for sure is that he has forced me to look further at diversification, which isn't really such a bad thing. I did speak to a company that deals with changing company structures and they advised that I would need to purchase at least 1 more property to make it worth while, so the brakes are on with regard future purchases unless a fantastic opportunity arises. Unfortunately a lot of the talk of ownership structures mainly concentrates on the tax savings to be had once S24 is fully implemented, not on real cashflow (taking into account mortgage rates, higher accounting fees etc) and long term ownership issues. Other issues are taking an income once I give up the day job and if the structure could be reversed at a latter date.
Stuart - I do currently invest 5% of my salaried earnings into a stocks and shares ISA, all 4 are tracker funds. I have systemised to remove emotion and only purchase the funds when they meet my rules. Another 5% of earnings automatically goes into an IFISA.
Mark, lots of good stuff here. You seem fairly sophisticated so I’m sure you will find the right solution. My advice does not really change with the clarification you’ve given.
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)