Updating post from Reddit.
If they aren't, no one will ever sell.
Also worth noting that government get there cut of rental income. They get fuck all from a mortgage payment.
Sure they do. The recipient is taxed on the profits from it. A landlord pays tax on rent, minus expenses. A bank pays corporation tax on interest received, minus expenses.
No private labdlirds pay tax on income
What are you talking about?
Private landlords like myself pay tax on the income. Whilst there are some ways this can be offset such as essential works it is not based on profit and loss like a company.
Just correcting the idea that its the same tac regime as say google who manage to make a paper loss and avoid tax on turnover by using licencing agreements in liw tax areas to funnel money away to avoid tax.
I earn 12k in income from rent. I pay tax on 12k in income on rent
I think you needed additional punctuation because at the moment your comment reads like private landlords don’t pay tax on income. Hence my question as I’m a private landlord and of course pay tax on my income.
Tip tap o small phone screens with chunky engineer fingers
Make sense, but I won’t take anything for granted until she says it.
It might look bad on the outside, so what does worry me is what they’re going to bury this news with, or is this the worst to come out of it.
They could always buy a bank.
Raising cgt on sale of business shares, is an economic disaster waiting to happen.
So invest in housing more? Rather than stocks lol
That reads so much like "we want to, we really want to, but we'll wait until it makes us money"
Let's all take a minute to remember than 2/3 of UK housing is in the hands of big owners. Not in the hands of your plebs who own 2 properties.
they won't be happy until 3/3 are in the hands of big owners and the plebs are made equal with those who can't afford a house - all in the name of fairness.
CGT is already high on second properties. It just prevents people from selling. Removes liquidity from the market, so reduces stamp duty take.
In some ways there is some logic in this cgt currently 24% resi property, 20% shares. I spend a lot more time pulling other peoples’ pubes out of drains and sorting out boilers etc than I do worrying about my vanguard global tracker
Apart from pensions most of the UK wealth is in property.
Zero chance labour are going to give 2nd houses an exemption.
What ever you’re smoking can I have some please.
If they are not doing it this time then they will raid the private Landlords another year.