Tuesday, January 12, 2016
The real BTL agenda laid bare
Buy-to-let mortgage applications from limited companies more than double as landlords strive to beat tax hikes
And so it came to pass, Osbourne's "crack down" on BTL was simply a rouse to shift BTL investment from sole trader to Ltd. where normal tax breaks exist and funding for lending is available. Expect new business starts to soar. In the end, it is about forcing BTL into having to submit full accounts to HMRC. Hence, Osbourne's main concern was not housing, but tax evasion. The next boom? A boom in accountancy.
Posted by libertas @ 11:25 AM (5617 views)
5 thoughts on “The real BTL agenda laid bare”
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libertas says:
Businesses with more than 15 properties will be exempt from the (3%) stamp duty surcharge.
The number of products available for buy-to-let companies has also increased from 99 in the first half of 2015, to 147 by the end of the year, according to the research.
mister ed says:
Mortgage broker writes PR puff piece for VI BTL website.
Libertas believes it.
No-one is surprised.
🙂
libertas says:
Mister Ed, do you actually believe that Osbourne had any intention of crashing the buy to let industry? The intention here is consolidation as successful landlords incorporate, whilst retail investors sell to big corporate landlords who will not pay the additional stamp duty. The whole effect will be regressive as rather than have thousands of landlords, it will be back to corporate feudal overlords.
mister ed says:
“Mister Ed, do you actually believe that Osbourne had any intention of crashing the buy to let industry?”
I have no idea what his intention is. He hasn’t spoken to me since a rather dangerous prank which used a firework, a turnip and two ounces of cherry red shoe polish disastrously backfired.
“The whole effect will be regressive as rather than have thousands of landlords, it will be back to corporate feudal overlords.”
Ah, I see, just like in France, Germany, Holland, Belgium, Japan etc — a private rented sector run by professional property developers with secure long-term contracts, high standards of accomodation, and all regulated by strict legal codes.
Some may spit on the idea of “corporate feudal overlords”. Some may say, “Bring it on, Ossie baby!”
mark says:
its heading south, visiting estate agents looking at houses, the first question is are you buying to let, after being asked this a few times I asked why they ask, the reply was actually very surprising “A lot of vendors do not want to sell to buy to let”