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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Lancelot

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14:33 PM, 23rd July 2016, About 9 years ago

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

Hi NWL

Thanks for your thoughts.

I can't seem to PM you - in fact can't see a PM 'button' at all.

I don't want to post my email on the open forum, but it'd be good to chat about this idea.

TheMaluka

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14:50 PM, 23rd July 2016, About 9 years ago

Reply to the comment left by "lancelot spratt" at "23/07/2016 - 14:33":

Set up a disposable address in Yahoo, if it gets spammed then just delete it. The disposable address can be publicised without fear of compromising your regular address. Yahoo** has a special facility for this.
email from the disposable address can be automatically forwarded to your regular address without the sender being aware of your regular address.

** Other email providers are available.

Markb

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15:13 PM, 23rd July 2016, About 9 years ago

Sorry for the aside...

What the company rate of CGT when selling a house?

I know as an individual it is still 28%

Big Blue

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15:48 PM, 23rd July 2016, About 9 years ago

NWL

I have questions!

Are we talking about property leasing or optioning the property for 'future' sale?

How does the company pay the mortgage? It cannot pay you your personal payment or HMRC will deem it a connected transaction and the lenders may refuse to accept payment from a ltd co account.

Do you simply option the property for say £1, with a 10-year completion?

What might HMRC say about this as it is effectively just leaving everything as it is but running the finances through the company - surely this is a fiduciary company and as such it still gets caught by S24?

Very keen to know more!

H B

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16:27 PM, 23rd July 2016, About 9 years ago

Reply to the comment left by "James Fraser" at "23/07/2016 - 15:48":

It all sounds a bit "with one bound he was free". HMRC states very clearly that if it sounds too good to be true, it probably is.

Big Blue

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21:23 PM, 23rd July 2016, About 9 years ago

Reply to the comment left by "Markb " at "23/07/2016 - 15:13":

Companies don't differentiate between income tax and CGT, it is all corporation tax. This is currently 20% but is reducing to 17%.

Lancelot

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13:02 PM, 24th July 2016, About 9 years ago

I hear that this scenario has headwinds from the revenue. But some use of a limited company (maybe up to 15% turnover?) might help a little.

My goodness, we are really being pushed into a tight corner.

Ahmad Jibril

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13:23 PM, 24th July 2016, About 9 years ago

Reply to the comment left by "lancelot spratt" at "24/07/2016 - 13:02":

Are there any tangible reasons for the 'headwinds'? If Revenue would accept 15% turnover, why not the whole lot. Pls enunciate further. Thanks.

Jon Pipllman

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13:48 PM, 24th July 2016, About 9 years ago

Reply to the comment left by "Sean Graveney" at "23/07/2016 - 12:22":

I am with you (Sean Graveney) on this.

If I was considering implementing a scheme that could reasonably be construed as being against the spirit of GAAR, particularly if, should that scheme was later unpicked by HMRC, it could have potentially catastrophic circumstances for my family & I, the only opinion I would accept in support of said scheme would be that of HMRC

Moreover, if said scheme could be construed as a reason for a key lender to withdraw borrowing facilities at short notice, I would want it OK'd by the lender too.

Anything else, up to and including any opinion from top barristers without the specific scheme being tested in the UTT, would make it harder for me to sleep at night.

NW Landlord

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14:58 PM, 24th July 2016, About 9 years ago

If your model is no longer viable and a company offers to save your business by taking out options on your properties what's the problem ? The alternative you get taxed out of existence and have to throw the keys back ? Nothing to loose comes to mind ? You have seeked help in order to avoid bankruptcy

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