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  • Tax

    S24 on Limited Companies?

    Dear All,

    I remember seeing a popular thread here on PT regarding indications of S24 coming towards Limited companies too potentially for smaller landlords but I can not find that any more. I am sure I want not dreaming, therefore, would someone please be able to point me to the right thread?

    Thanks.

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    Thanks Venessa - I am sure I wasn't dreaming because I even pinched myself before posting and it did hurt! :-)

    Thanks again.

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    I've seen no evidence of any intent to bring S24 to Limited Company BTL.

    The only source i've see in a Conservative Lord Commenting that it wont come to LTD Company BTL as they are taxed differently & given that it would be massive disadvantage.
    There is of course the other factor that it will effect many Conservative Donors - including the Chancellor himself - a LTD CO BTL Portfolio Landlord.

    The question - would also be Why? The changes seem to be having the intended cause on the housing market that they wanted an advantage to FTB and fewer BTL Transactions.

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    _________________________________________________________________________


    The above post is not financial advice, its often me rambling - passing time on a coffee break.
    If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance.


    _________________________________________________________________________


    If Labour come to power The loophole will be closed

    Labour has already said corporation tax will be raised and that's before they come to power

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    Learn Change and Adapt ?????


    If (this) Labour comes into power - I will be researching "How to become a Registered Social Housing Provider?" before the state gets its nationalisation running.

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    _________________________________________________________________________


    The above post is not financial advice, its often me rambling - passing time on a coffee break.
    If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance.


    _________________________________________________________________________

    if they come to power am leaving the UK

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    Learn Change and Adapt ?????

    If this government intended to apply S24 to companies they would have already done so. Labour would be more likely to just abolish all mortgage relief (maybe with exceptions).

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    I think your wrong

    Tories are funded by large Business normally within a Co Wrapper

    So my Guess is Osborne did not want to upset the Hand that feeds the Tory Party

    On the other hand the Average landlord has no power and doesn't back a political party

    hence you have a very easy target to tax without upsetting anyone apart from us

    If the Conservatives come to power I think we will have a form of S24b on personal held Mortgages

    and they will most likely leave the Company owner alone

    If Corbyn comes to power I can see a form of S24 on Companies and increase Corporation tax

    This is why I have said we are only at a start of further taxation of Landlords

    after all someone has to pay for the Billions the NHS needs

    BTL will survive only if the Govt docent tax us out of business with further changes

    They have no intention of encouraging BTL



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    Learn Change and Adapt ?????


    I believe you are correct with the direction of travel regarding LL taxation.

    The Tories would just restrict the tax for any LL owning 100 or fewer properties no matter what construct they are held.

    That would capture most of the small LL they wish to hit while leaving their big buddy Tory Party donors immune from penal LL taxation.

    Nobody will care a jot if LL are hit for more tax despite the economic illiteracy in doing so.

    There are very few small LL who have more than 100 properties as either corporate or sole traders.

    Of course Govt won't publicise or care about the effects of such a revised S24 policy.

    It is clear that Govt believes it can carry on taxing LL as much as it wants as nobody seems to be aware of the issues such penal taxation causes.

    Indeed even if it was known I believe that such is the spite that very few would object to LL being hit no matter what the detriment to tenants.

    I am continually surprised at the supposed positivity shown by many of the posts for BTL

    Buy To Lodge is a different and far more effective strategy.

    It is clear that there is no electoral disavantage in hitting LL.

    Indeed by openly advocating such increased taxation it could be deemed to be electorally advantageous.

    This is why LL are on a hiding to nothing.

    I'm surprised LL think the same old game of the past 20 years still exists.

    LL are ripe for further taxation and anyone who believes there won't be new taxation is deluding themselves.

    They'll keep on believing it even while LPA receivers are effectively bankrupting them!!!!

    BTL positivity seems almost akin to a religion

    Religion as I'm sure everyone knows is complete bunk.

    It is a manmade construct designed to control people.

    BTL seems to be a religion of which there is total belief despite all the very obvious signs that BTL will be proven to be a false God one Govt has finished taxing it to death!!

    It is going to happen.

    The Govt imperative is there

    It needs and wants to raise taxes for all it's funding promises.

    The small LL is as near to a magic money tree as the Govt can find.

    They will be shaking it for all it's worth!!

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    There  is so much Blue Sky thinking on this topic

    I find it hard to understand why others just cant see the dangers

    what is it makes them so Optimistic

    Today as we Talk this investment is the most hated and Taxed asset you can buy into

    But we have Landlords acting as if its Pre Osborne days  


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    Learn Change and Adapt ?????