Tax Cut For Multiple Buys

[guitarman001]

http://www.bloomberg.com/news/2011-04-20/tax-cut-on-multiple-home-purchases-may-spark-investment-in-u-k-.html

We knew this already but this is a more up-to-date article.

[Si1]

Chancellor of the Exchequer George Osborne last month announced plans to lower the stamp duty tax on for buyers of multiple residential properties by basing the rate on the average price of the properties rather than the total value of the purchase. The government’s aim is to remove a barrier to large-scale investment, a Treasury spokesman said.

sounds good to me - stamp duty is a sliding tax, so otherwise it discourages institutional landlords and encourages speculating amateurs - I much prefer the former, from experience

Since institutional landlords are infinitely more likely to use investment criteria to decide on property purchases, then they are more likely to be anti-cyclical, unlikme the amateurs

this is a good thing imho

and, tho it hurts me to say it, the previous labour government set the ball rolling with REITS, the current govt are merely addressing the early implementation issues

[frenchy]

http://www.bloomberg.com/news/2011-04-20/tax-cut-on-multiple-home-purchases-may-spark-investment-in-u-k-.html

We knew this already but this is a more up-to-date article.

I think this is a good thing and don't see this dramatically changing things, except making it less of a pain to buy several houses. The alternative would (and probably is) simply be to split the purchase in chunks. Also this is for multiple buys so will have no impact on the amateur BTLers that buy one at a time and are more likely to be a nuisance (the amateur BTLer is unfortunately also an amateur LL)

[Bloo Loo]

I think this is a good thing and don't see this dramatically changing things, except making it less of a pain to buy several houses. The alternative would (and probably is) simply be to split the purchase in chunks. Also this is for multiple buys so will have no impact on the amateur BTLers that buy one at a time and are more likely to be a nuisance (the amateur BTLer is unfortunately also an amateur LL)

best off, its great for bankers shells, buying up job lots of possessed properties from their paymasters.