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  • Tax

    Warning of closure of ltd. co. loophole

    its perceived as a loophole

    You and I know different ??

    Company Landlords pay more tax when you take an income be it dividend or salary

    The only gain is you can fund a pension

     

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    Learn Change and Adapt ?????

    We had such predictions last budget, they where wrong. Why would Estate Agent Today Graham Norwood be right now? I dont see him offering up any foundations to his mystic meg predictions..

    As opposed to what we do have Conservative Lord - saying that LTD Company BTL does not a tax advantage and not to expect any changes.

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    Looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance. The above is not financial advice, its me rambling - just passing time on a coffee break.

    Adam,

    We had such predictions last budget, they where wrong. Why would Estate Agent Today Graham Norwood be right now? I dont see him offering up any foundations to his mystic meg predictions.

    You are right that predictions are often wrong, but unfortunately all too often in order to then make a decision we have to make them, or let someone else make them for us. As one of the premier Property Journalists I would probably listen to Graham Norwood's predictions before those of any other journalist that I have read. 

    The article I read gave it's logic clearly:

    But the reason why my view is pessimistic can be summed up in one word: Politics.

    This Easter weekend sees the official start of the May local election campaigns. Despite being in government and pursuing an austerity programme with sharp cuts in council funding, all indicators suggest the Conservatives will do well. The Liberal Democrats may make progress, too, while Labour and UKIP will fare less well - possibly far, far less well than might have been expected mid-way during a government and with Brexit underway.

    So the Conservatives are likely to come out of the May local polls completely unscathed and with a spring in their step - for now at least.

    What happens next may be critical. If Labour remains faithful to Jeremy Corbyn despite a poor showing, the Conservatives may well believe they have two years ‘free run’ - taking them to spring 2019 - before keeping their heads down before the 2020 General Election.

    Today's announcement makes Norwood's prediction even stronger, the Conservative Government of 2017 - 2022 will have a voters mandate that May doesn't currently have, and 4 years instead of 2 to push through unpopular measures.

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    Now May has called an election I think we will have the Tories for the next four years

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    Learn Change and Adapt ?????

    Why only 4?

    But yes, that is what is behind the prediction of more pain for LL.

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    Nick - you say the article says clearly why LTD Companies will have a similar Clause 24 change.
    Then quote further predictions about local elections - nothing in that about housing.

    I do not see the foundation for Graham Norwood mystic meg prediction in his article.
    It raises more questions - why were last predictions wrong and this not in last budget? ... Why is Government Conservative Lord saying there is no plans for the change? ... If it is a loophole, why are so many not doing it? because its not beneficial to them.

    I like to read the news for reasoning and facts, not for unfounded predictions that are somehow certain.

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    Looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance. The above is not financial advice, its me rambling - just passing time on a coffee break.

    I hope moving to a company is not a mistake  but time will tell

    None of us saw S24 so predicting the future is quite silly

    Even Mystic Meg would have an issue with this mess

    I hope for the best and plan for the worst now

    I am sick of planning to avoid unfair taxes

    when I should be spending my time and money on building a stronger business.

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    Learn Change and Adapt ?????

    Govt will continue to propagate their propaganda that BTL LL prevent FTB from buying

    Politically it plays very well to the vast majority who hate private LL because they take most of their income to pay for somewhere to live.

    This is resented and even though such attacks on LL could cause those tenants to actually lose that rental accommodation it is in the nature of most to blindly hate LL.

    It's the old scorpion and fox syndrome!

    It is in the nature of tenants to resent their LL.

    Govt will lose very few votes hitting LL.

    LL and homeowners are the holders of the biggest store of wealth in the UK

    The Govt wants vast chunks of that wealth.

    There is no way Govt will hit homeowners for electoral reasons so that leaves LL!!

    There is simply no way that Govt won't do all it can do to get its hands on equity built up over the past 16 years by LL.

    S24 is one strategy.

    There will be many more to come!

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