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  • 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.

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    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

     


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    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!

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    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.


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    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.

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    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.

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

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