X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Tax

    Warning of closure of ltd. co. loophole

    Somehow I just knew that HMRC would do something like this - after they'd hoovered up a load of CGT and SDLT.

    0
    0

    You must remember one thing the Tories are supported by large Property Ltd Co,s

    This would be unpopular and may hit the Conservative party hard in there pockets

    But we will all have to wait and see I don't mind paying Tax on profit and if corp tax goes up its fair

    I just hate S24 and that is bloody unfair

    I am still very happy I have become a company Landlord

    Succession

    Pension Planning

    were my main reasons and S24 was the catalyst

    I think every sector will pay more The Country is bankrupt and the Govt needs cash

    A bigger warning came to my ears in the area of Rent Control which I would be surprised if it did not happen

    The Govt are focussing on the JAM element of society  

    we are going to see energy caps so why not rent Caps

    The ending of fees which Agents charge are only the start

    They will drive our sector into the ground one way or another

    the only glimmer of hope is the homelessness this will cause

    Its not joined up thinking and issues lie ahead of us all

     


    0
    0

    Learn Change and Adapt ?????


    the only glimmer of hope is the homelessness this will cause

    Er, you might want to either clarify or rewrite that DL!

    0
    0

    Agreed DL. I have no problem with paying fair taxes.

    As I've previously said, there's no way I could afford to incorporate with the massive CGT and SDLT bill it would entail.

    I thought that HMRC could make rules that vary between large and small corps?

    I'm sure they will find a way to do so.

    I think the government are unlikely to introduce rent controls for the same reasons you site as changes to Corp taxes - it would hit the BTR brigade too hard.

    Yes, I agree, a lot of letting agents are going to go under as landlords like myself, chose to use online agents for tenant find.


    0
    0

    2. The revenue are ahead of schedule with the implementation of the making tax digital quarterly shit but the software suppliers (xerox, qb etc) are behind with their end.

    That has just been delayed by the election, probably for a year.

    0
    0

    1. The HMRC top knobs are expecting higher rates of corporation tax to be introduced for property companies to level the playing field with private landlords who have lost the right to reclaim mortgage interest as an expense.

    Whilst I can see HMRC wanting that there would be political difficulties if they didn't exclude builders and BTR with the emphasis that each party is putting on the number of houses that will be built.

    0
    0

    As I said above, they will find a way to exempt BTR co's.

    0
    0

    No sensible Landlord would move privately owned property to LTD.

    Any Sensible Landlord will be buying new properties in an LTD

    Smile

    Well that is what we have done so shoot me down in flames!

    0
    0

    I was shocked at the rise in my tax bill if I had not moved property into my company

    I sat down over three days and gave a great deal of thought

    I even though about selling ??? a think which I have never done in over 32 years of being a Landlord

    Then I started thinking outside of the box I started to learn about company formation its good points its bad points and where I was in the Life Cycle

    I will be 60 next year and I have a wife a son and Grandchildren and it was always my intention to pass down the assets to them one way or another

    So I now use S24 as a leaver to make me rearrange my life and provide a structure for sussesion and of course paying less tax in the long run

    Company's give landlords who have a lot of property away of passing down in a much more organised way than personal assets

    Company's also have a great plus over personal BTL and that you can also have a directors pension TAX FREE

    Moving property for the sake of S24 is not a good reason to move property You need more reasons than S24 IMO

    None of us live for ever and in a way I am glad S24 has come along it has made me take action on a topic I may have put off as my Autumn years move forward

    Its costly but nothing like the cost If I had done nothing  



    0
    0

    Learn Change and Adapt ?????