Summer Budget 2015 – Landlords Reactions

Summer Budget 2015 – Landlords Reactions

14:00 PM, 8th July 2015, About 10 years ago 9619

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Budget 2015 - Landlords Reactions

The concern is;

Budget proposals to “restrict finance cost relief to individual landlords”Summer Budget 2015 - Landlords Reactions

To calculate the impact of this policy on your personal finances download this software


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Sean Graveney

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12:22 PM, 23rd July 2016, About 9 years ago

Don't you need to inform your mortgage provider about any change in who is paying the mortgage? Are they ok with it? I'd be keen to get an opinion from HMRC too - a tax advisor could tell you anything.

Lancelot

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12:38 PM, 23rd July 2016, About 9 years ago

To clarify:

-I'm not incorporating into a limited company. I'm letting all my properties to a limited company. In the lease between the company and me, there is no prohibition on the company subletting to whomever they choose. Why should there be?

-There is no change of title. There is no new mortgagee. There is no crystallisation of capital gain.

It's a sensible business decision. I will pay all due taxes. The company will pay all due taxes including corporation tax.

It is a business model which helps me cover void period revenue holes and limits my family and my liability from tenants, agents and other risks.

Please, tell me where this is not fair practice in any way?

H B

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12:53 PM, 23rd July 2016, About 9 years ago

Reply to the comment left by "lancelot spratt" at "23/07/2016 - 12:38":

You would be taxed on the income from the limited company, of course.

I presume that you propose to to let to the limited company at below market rental value in order to reduce your personal tax liability.

If this is not being done at a price reflecting a reasonable market price, it is more likely to be judged to be a tax dodge.

NW Landlord

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13:08 PM, 23rd July 2016, About 9 years ago

Correct if u want to talk further send me contact and I can help more but basically it is how u describe

Gromit

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13:10 PM, 23rd July 2016, About 9 years ago

Summary video from the Tenant Ta Summit is now available on-line at: https://www.crowdpac.co.uk/campaigns/36/axe-the-tenant-tax

The video is 12 mins.

Ahmad Jibril

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13:23 PM, 23rd July 2016, About 9 years ago

Reply to the comment left by "NW Landlord" at "23/07/2016 - 13:08":

Hi NL
Very interesting.
I have been thinking along these lines for some time but would be very grateful for your perspective on this too. My disposable email address is jajibril@hotmail.com

NW Landlord

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13:30 PM, 23rd July 2016, About 9 years ago

Done

NW Landlord

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Miascot

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13:51 PM, 23rd July 2016, About 9 years ago

Reply to the comment left by "NW Landlord" at "23/07/2016 - 13:30":

I also would really appreciate any advice or thoughts on taking such a move forward. I fear going "belly up" if this all comes to fruition. More than 60 long term tenants being evicted needlessly!
kenfowler10@gmail.com

TheMaluka

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14:24 PM, 23rd July 2016, About 9 years ago

Reply to the comment left by "mia scot" at "23/07/2016 - 13:51":

Add my 70 plus tenants and all the rest who will be homeless.

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