Saturday, June 30, 2007
How about some regulation?
Buy to let discount criticism
The Royal Institute of Chartered Surveyors is calling for action on the hidden discounts being offered to buy-to-let investors
Posted by pendulum @ 09:43 AM (538 views)
5 thoughts on “How about some regulation?”
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confused76 says:
Buying bulk at discount and rent out or sell retail at higher price is not the real issue, INMHO
The unfair competition stems from the fact that the government subsidizes the cost of financing with a tax shield on 75% leverage
Politicians have to realize that BTL is not an “industry” but a form of investment, and as an asset class there cannot be such a difference between taxation on regular savings and BTL
I am confident the government will intervene on the tax break. In the end is a no brainer, much easier than imposing lending standards on banks. of course they will not change the rules from one day to the next but will phase in the changes. It is a $2bn tax subsidy p.a., not peanuts. Remember what they did with MIRAS. When Gordon needs money he can be ruthless
Winnie says:
This is a key departure from the most important and credible of the VI “side”. Puritan old Gordie is programmed to listen more to institutions like this than charlatans like EAs…..they are basically giving the tax break removal a green light for him (and he needs that revenue)
Scott says:
I suppose tax breaks in any form are bad according to the government. If I was in charge, I would tax everything and everyone. Wouldn’t you?
mike says:
“Scott said… If I was in charge, I would tax everything and everyone. Wouldn’t you?”
Are you implying that there is anything left to tax? I personally wouldnt be surprised to see VAT go up next…
confused76 says:
Mike,
I agree with Scott, there is an obvious tax target left (and probably the only one)… the BTLs