Sunday, Dec 16, 2007
BTL bail out en mass!! Victory!! Leaches and scavengers are gonna get stuffed!!
Times: Tax change may spark house selling surge
"FEARS are growing that an overhaul of the tax rules for buy-to-let investors and second-home owners could lead to a surge of selling in April, sending precarious property prices tumbling. An estimated 650,000 people with buy-to-lets and second homes will see their tax bill fall significantly if the government’s plan to introduce a flat 18% capital-gains tax (CGT) gets the green light." CATCH 22!! If they keep the bill as is, BTL are stuffed from a sell out. If they remove the CGT cut they are stuffed from higher tax rates. In both cases AHHAHH AHHAHHAH AHHAHHAHAH HAHHAH AHHA MWAAAUUUUUUUA UAUAUAUUAUUA
Posted by confused76 @ 01:00 AM (439 views) Add Comment
4 Comments
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1. Mariothegreat said...
Nice proposition the Eis shares, unfortunately you can lose all the money.... first of all to defer the total amount (p.i 40.000 £ ) you need to buy 100.000 vworth of shares.... or if you are lucky to have an income tax you neeed at least 80.000...
So you're risking all you have earned plus another 40% of your capital... It's better to pay the tax!
2. magnifico said...
I must say I like the idea. Instead of discouraging BTL by taxing 2nd homes heavily ( which was my view of what the market needs) encourage sales by making it tax-attractive. Maybe this treasury isn't as useless as I first thought.
3. tyrellcorporation said...
It would also provide a tax spike for the treasury if indeed they managed to sell their BTL properties. The last thing GB needs is tax income caught up in an investment.
4. planning4acrash said...
Expect BTL to be blamed for all this, expect tax changes to make BTL and second homes less attractive. Maybe this government will escape yet, they have already had a good go at private equity.