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ralphmalph

Govt Steps Up Attack On Btl Landlords

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Camaclegg to take on the BTL'er.

Hope so!

They've scrapped ID cards. If they manage to bring down BTL scumlords and indirectly bring down house prices as well, they've earnt my vote for life.

I'll even forgive them for throwing our students under a bus.

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It wouldn't be that hard for them to do.

First remove the mortgage interest from allowable expenses for tax calculation.

Then crack down hard on all those evading tax, this is done by requiring all landlords to be registered.

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According to the DWP, "Some private landlords specifically target the housing benefit sub-market because they know they can command higher rents from these tenants... causing a knock-on effect on rents in the area."

Making matters worse, many private landlords are said to have bought council housing stock off local authorities and then rented it back as social housing.

....helped Gordo's boom and made him look good for a short time to the sheeple ....time should be called on these exploiters....who have tax advatages on their mortgage loans in addition......the poor tax payer seems to pay at every turn..... :rolleyes:

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It wouldn't be that hard for them to do.

First remove the mortgage interest from allowable expenses for tax calculation.

Then crack down hard on all those evading tax, this is done by requiring all landlords to be registered.

You should see how many cheats there are in the BTL universe. In my temp jobs (don't work as an accountant currently I currently sell things to foreigners) doing tax work, you ask LLs for their mortgage interest and they will tell you a HUGE figure over the phone.

I always used to get suspicious due to ZIRP and would ask for a paper statement which they would decline to provide. At least 9/10 maybe even 10/10 of LLs are not only claiming tax relief on mortgage interest but they are claiming the capital too! Well except for this one guy who had 30K of interest to claim but he was kind of different.... he worked several different jobs and ran lots of small scale sole trades to try to pay off his overleveraged portfolio.

Anyway what these people don't seem to realise is that they used to think they could turn and blame me for falsifying their taxes and several of them DID send HMRC officers after me after they were caught. But they burnt themselves as they were the ones signing the declarations and that the company terms signed said THEY would check for error and fraud and the fact we'd keep evidence of everything.

Edited by ken_ichikawa

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You should see how many cheats there are in the BTL universe. In my temp jobs (don't work as an accountant currently I currently sell things to foreigners) doing tax work, you ask LLs for their mortgage interest and they will tell you a HUGE figure over the phone.

I always used to get suspicious due to ZIRP and would ask for a paper statement which they would decline to provide. At least 9/10 maybe even 10/10 of LLs are not only claiming tax relief on mortgage interest but they are claiming the capital too! Well except for this one guy who had 30K of interest to claim but he was kind of different.... he worked several different jobs and ran lots of small scale sole trades to try to pay off his overleveraged portfolio.

Anyway what these people don't seem to realise is that they used to think they could turn and blame me for falsifying their taxes and several of them DID send HMRC officers after me after they were caught. But they burnt themselves as they were the ones signing the declarations and that the company terms signed said THEY would check for error and fraud and the fact we'd keep evidence of everything.

..the simple way to deal with this ....STOP the mortgage tax relief....and the ones who have fiddled to date ...repossess the property..... :rolleyes:

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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