Saturday, October 20, 2007

Spin of a Landbitch: impact of Darling’s budget for the BTL

Tales of a landlady: Tax reforms

Spin, spin, spin. This bit*h did not understand consequence of the abolition of taper relief is short-term profiteering and market destabilization. "At the moment, when you come to sell your investment property, you could pay as much as 40% of the profits to the taxman. Thanks to what is known as “taper relief”, this can eventually fall to the equivalent of 24% (if you are a higher-rate taxpayer) or 12% (if you pay tax at the basic rate), but only if you keep the place for 10 years or more." There will be a glut of properties on the market before April, the millions btl'ers who are on 12% rate now.

Posted by confused76 @ 03:26 PM (737 views)
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2 thoughts on “Spin of a Landbitch: impact of Darling’s budget for the BTL

  • “Blimey,” says Robin Curtis, director of Windmill Residential, who owns 15 of his own properties and manages 70 others. “This news is – frankly – unbelievable. I feel like selling everything fast, in case Darling changes his mind.”

    Looks like others may feel the same, confused76!

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  • Freewheelin Franklin says:

    I know most of us have a pretty low opinion of Vested Interest commentators however I really don’t think bad language and personal invective adds to HPC’s standing as a site. Why didn’t the moderator step in and act. I think it’s thoroughly discreditable

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