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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Seething Landlord

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23:08 PM, 23rd November 2016, About 8 years ago

Reply to the comment left by "ray selley" at "23/11/2016 - 22:10":

Well that should set the cat amongst the pigeons.

Lee Humby

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23:24 PM, 23rd November 2016, About 8 years ago

Reply to the comment left by "ray selley" at "23/11/2016 - 22:10":

Are this lot ever going to stop meddling? We want some certainty going forward, not this eternal churn.

ray selley

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23:37 PM, 23rd November 2016, About 8 years ago

Should The look Through Entity become reality and Screwed Trading limited sell some of the companies portfolio then instead of the current 20% corporation tax on any uplift in value they could possibly end up paying 45% income tax [no £11000 CGT allowance of course its a ltd company] even if left in the company

Lee Humby

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23:43 PM, 23rd November 2016, About 8 years ago

Reply to the comment left by "ray selley" at "23/11/2016 - 23:37":

So surely the whole idea of incorporation is undermined by this??

ray selley

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23:53 PM, 23rd November 2016, About 8 years ago

Maybe the words LEVEL PLAYING FIELD are the clue

Mick Roberts

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7:03 AM, 24th November 2016, About 8 years ago

Thanks for your replies so far,

Yes what is the double whammy tax, is it something like 32%?
If so, that puts us at roughly 49% Tax with the original 17% does it not?

I've came to the end of my buying houses life, I'm only buying 1 or 2 a year at moment, so leaving in company to buy houses may not benefit me any more.

Rental Income roughly £360,000, with annual mortgage interest only £36,000 (which I know could rise with interest rates), so the S24 restrictions not massive for me at the moment.

Simon Griffith

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7:49 AM, 24th November 2016, About 8 years ago

The recently published result on the report of lookthrough taxation can be found here https://www.gov.uk/government/publications/ots-final-report-on-lookthrough-taxation it concludes 3.4 'lookthrough does not offer significant simplification to justify it's introduction'. I am no accountant or lawyer but the implication is that this particular threat has gone away but I also note on the same site the OTS is now doing another consultation on Corporation Tax in general. I skim read that report and I couldn't see anything of particular concern beyond the frustration of more money being wasted and the perpetual desire to 'tinker'.

TheMaluka

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8:07 AM, 24th November 2016, About 8 years ago

I think we should 'level the playing field' by removing all the subsidised food and drink in the Palace of Westminster and not allow members to have credit facilities.
http://www.telegraph.co.uk/news/politics/8988751/Subsidy-for-MPs-bars-and-restaurants-rises-to-5.8m.html

Lee Humby

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13:44 PM, 24th November 2016, About 8 years ago

Simon Hall

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18:09 PM, 24th November 2016, About 8 years ago

Reply to the comment left by "Lee Humby" at "24/11/2016 - 13:44":

In White Paper, they could sneakily stipulate that, s24 is not retrospective. Low possibility but possibility!

Be Optimistic!

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