Browse All Tribes or choose a Tribe below:
By signing up I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Sign Up With Facebook, Twitter, or Google
By signing up, I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Don't have an account? Sign Up
To reset your password just enter the email address you registered with and we'll send you a link to access a new password.
The above may come as a surprise
The Govt want to encourage the FTB and I welcome that 100%
The changes we have seen are to give FTB a chance The intention
is to slow BTL down and maybe that's a good thing
we have a win win situation here apart from paying a little more Tax
If I look at my Business its worth Millions and the value is in the capital so if my Millions grow by just 1% I can afford S24 out
of pocket money
If the FTB comes back to the Market as hoped my growth could be a lot more than 1%
FTB will pay more they don't look at yield they look at a dream to live in a house and maybe raise a family and every FTB is an investor in a strange way they have seen there family from past generations make money and they want that too
90% of my property is just plain old FTB property Houses Flats in non city centre locations there all places to start a family
Yes I have stopped buying I am in a period of my life when I can afford to sit back take the profits Pay some Tax and have a great life for the rest of my life
The more I see the FTB the better I will be off They want what I own and If I was selling They would pay more than a BTL Investor
I intend to make a lot more money in the coming years The North is the Place for Growth
We all know Landlords will sell a great number are reluctant landlords to start with They are only Landlords because they cant sell a house but S24 will make them sell if they have a mortgage
But for the rest of us who have invested in the Past years its business as Normal
I treat S24 a bit like VAT I have a large business worth millions and I pay a bit extra Tax
But I know just in capital growth I can make more millions
Yes I will restructure and invest in other areas but my Millions will be made in Property
PT are the true investor types The rest are not and they are not interested
So I say to the Govt Bring on your new Policy's Bring in MR & MrS FTB they will swell my wealth more than anything else
and don't forget as the Landlords who don't want to be Landlords leave there will be less rental in the North East and more tenants to pay higher rents
If you have good yields and millions in property it can only get better
Even this Budget brings us more pain we have to think why ?
Its to give our best asset a chance of growth when the FTB want what we have
any way I am flying to the South of France today in my own aircraft safe in the knowledge I can afford the life style I have
S24 is a benefit not a draw back for the serious investor
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.
I bet half of that post ends up on that house prices are crashing site with its blanket hatred of anyone that would dare to be a landlord.
Enjoy your flight!
well we are hated anyway so what the Hell
There is always a silver inning James
I got some Sh** from Investors in PT about my views on the UK PRS
I am not going to peddle the views any more But I will give the views on my Business and how much money I am making
and My strategy going forward
what other Landlords do I really don't care I know what I am doing and that's enough for me
Driving my own sports car to the Airfield and living life is what BTL has got me
I know what's in front of the sector
The question is do other Landlords have a Plan do they have large yields do they own Millions of Pounds of property
I know I do and that's all that is important
You will see very different blogs from me in future
I am a true Investor who has a life of freedom
and that's what BTL gives you freedom and wealth.
I think you underestimate the numbers of Accidental LL that won't be affected by S24
Few are known to HMRC!
They are all gaming the system
Such A LL will remove their properties from LA and they won't take deposits
They will be off the Govt radar.
They won't be paying CGT
There are reckoned to be about 300000 of these A LL
Many of them will also have bought a BTL.............and they will be living in it!!
There is so much gaming going on it distorts the true picture of the PRS.
So S24 will only affect those who play by the rules........ more fool them
Given the chance I would do anything to evade S24 tax.
I don't currently but only because I can't!!
Others are able to and do!!
There is a very unlevel playing field between different LL types.
Illegal LL house a significant part of the population
S24 won't affect many of them!
Paul we will always have folk who break the Law
I don't so I hope they get caught which they will in the long run
I am a professional Investor, Not a shark
and that's all I am bothered about to be honest.
Unfortunately that is a rather naive view
You operate in your little honest bubble
The rest of us have to have to game the system to survive.
S24 will just cause more gaming of the system to occur.
Such gaming of the system affects you whether you like it or not
Believe me your property values and rents would be a lot higher if it wasn't for all the illegal LL gaming the system.
Not much can or will be done about it.
So you will suffer because of it.
There is simply no willingness from Govt to shut down illegal LL because they know that would cause millions to be homeless.
Oh!! and by the way none of these sharks will ever be caught!!
The sector you are talking about will leave the PRS because they are not true investors
But that is not my Problem Paul its there s
Times are changing HMRC are getting better at what they do
so I say power to HMRC
I have yet to hear of one single Accidental LL who has had a resi mortgage called in due to letting without out consent!
If HMRC are so clever then why haven't they contacted lenders to confirm the mortgage status of any A LL that does pay tax?
Is S24 tax due on resi mortgage interest!!
The honest bubble is not little.
HMRC don't investigate the lack of CTL because they are not concerned with breaches of contract. If a LL breaks a lenders rules it is none of HMRC's business. It might be a crime if it is fraud, but that is a matter for the police. But it might not be illegal at all.
As for LLs who are not paying tax, I'd like to see what happens in about 3 months. That will be the first time a full year's self-assessments should be in since HMRC got the right to information from RightMove etc.
``any way I am flying to the South of France today in my own aircraft ``
I hope you are not posting on PT while you fly DL - very dangerous
enjoy your holiday break . Does that mean we all get a break as well ha ha
Jonathan Clarke. http://www.buytoletmk.com
I have used the Phone when flying lol