Buy-to-let,still a good idea?

[Hotman]

How many places do you have in your portfolio C,when i had a shop in thorpe bay turns out that my window cleaner had 14.

nowhere near as many as your window cleaner!!

 

[Hotman]

C as always sums up things perfectly.

Property is a long term investment and therefore a short term loss is no real problem as such. Any loss can be carried forward on paper. Also just because there is a loss on paper it does not mean your out of pocket to the same amount as the loss. You can for example claim wear and tear allowance of 10% of the gross rent if the property is furnished - yet you might not have that 10% worth of damage that year ( you might have more )

The wife and I own four flats which we let out. We don't do it to make short term gain as property s a long term thing. I am confident in 30+ years when I retire that all four property's will be worth more (plus my own home too I hope) so making a £1500 loss as I did this year isn't an issue. Too much profit is taxed as income at your marginal rate anyway so litle point making loads only to loose it in income tax.

Would also add some people like me can be trapped by CGT. My first flat I brought for £50k in 1998 (I was 18). I still own it now and it's worth approx £150k. If I sold it now I would get him for CGT on any gains after it failed to be my main residence and be taxed at 28% hence why I can never really sell it.

Been a while since I've been involved in any techy stuff, but I think you'd get principal private residence relief for the period you were there, plus last three years of ownership. Sell a share to your misses, both "move in" for a month, then you'll benefit from PPR and both CGT exemptions too (plus just a guess but if she isn't working, her share will be at 18% not 28%).

There's also a lettings relief I seem to remember, but it's been far too long, sorry mate...

 

[Hotman]

Been a while since I've been involved in any techy stuff, but I think you'd get principal private residence relief for the period you were there, plus last three years of ownership. Sell a share to your misses, both "move in" for a month, then you'll benefit from PPR and both CGT exemptions too (plus just a guess but if she isn't working, her share will be at 18% not 28%).

now watch mk gimper and Barnablue have a heart attack over all that dodgy avoidance the 1% are planning here!! :finger:

 

[Tangled up in Blue]

now watch mk gimper and Barnablue have a heart attack over all that dodgy avoidance the 1% are planning here!! :finger:

Tax avoidance is,of course, pefectly legal,though it should be much more circumscribed than it is,IMO.(Incidentally, I see TA is causing that nice Danny Alexander a few problems at the minute).:raspberry:

 

[Firestorm]

I read an opinion a few years ago that buy to let was one of the reasons for the house price boom

I also have seen several articles that the Holiday let business is causing a lot of problems for the locals in the holiday areas (devon , Cornwall , parts of scotland) in finding homes and being able to stay in the area with their families

I don't know much about property (only had 3 places in the last 30 years) , what do those "more in the know" think

 

[Tangled up in Blue]

I read an opinion a few years ago that buy to let was one of the reasons for the house price boom

I also have seen several articles that the Holiday let business is causing a lot of problems for the locals in the holiday areas (devon , Cornwall , parts of scotland) in finding homes and being able to stay in the area with their families

I don't know much about property (only had 3 places in the last 30 years) , what do those "more in the know" think

Shrimpero would, I believe confirm. that this is one of the main reasons why he left Porthleven in Cornwall.

 

[londonblue]

So where is your further comment? If you just post articles from another site, without giving some kind of opinion, that is akin to SPAM.

Playing devil's advocat, what is the difference between that and the Echo RSS feeds?

 

[Napster]

Playing devil's advocat, what is the difference between that and the Echo RSS feeds?

at least the Echo hasn't got a left-wing bias.

 

[Pubey]

Playing devil's advocat, what is the difference between that and the Echo RSS feeds?

The Echo RSS feed is about Southend United?

 

[Hotman]

Tax avoidance is,of course, pefectly legal,though it should be much more circumscribed than it is,IMO.(Incidentally, I see TA is causing that nice Danny Alexander a few problems at the minute).:raspberry:

Try telling HMRC, the Guardian, or the general public that!! :smile: