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Scunnered

10,000 Buy-To-Let Investors Confess To £50M Of Unpaid Tax

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Just noticed this.

A campaign to encourage residential landlords get their tax affairs in order voluntarily has brought in more than £50m, HM Revenue and Customs (HMRC) has announced.

More than 10,000 landlords have now come forward to disclose tax on previously undeclared income under the Let Property Campaign, which launched in September 2013.

[more...]

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11931468/10000-buy-to-let-investors-confess-to-50m-of-unpaid-tax.html

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If you pay the tax how viable is BTL?

Not viable at all as a high rate tax payer (i.e. over 32k) under the new regime. Anyone with a decentish job or pension and carrying any significant LTV is completely stuffed. Cant see see it being worth while for anyone except small time "professional" landlords (i.e. their only source of income) with low/zero LTVs.

Edited by goldbug9999

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