Summer Budget 2015 – Landlords Reactions
2:00 PM, 8th July 2015, 11 years ago
9619
Categories:
The concern is;
Budget proposals to “restrict finance cost relief to individual landlords”. 
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Tags:
Budget 2015 Campaign
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Comments: 96
1:44 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Mark Alexander” at “15/07/2015 – 13:39“:
Mark,
I do not think I should provide you with any evidence, statements are personal to me. If you wish to suspend my account, so be it.
If I ever wanted to come back, I could come back with different ID which I would not.
Happy days.
Member Since July 2015 - Comments: 24
1:45 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Simon Lever” at “15/07/2015 – 13:08“:
As an accountant myself thats the best description yet.
£2m value assets aren’t too common rentals up here though!
Thanks for sharing. Both my short and long term strategies are developing.
And george is going to lose out!
Member Since June 2015 - Comments: 193
1:50 PM, 15th July 2015, About 11 years ago
@ Gary Mason
If you insist your way is the correct way then I am torn about accepting it.
From a personal point of view I wish you to pay the tax you calculate is due as it means more money to HMRC and the Government which means lower taxes somewhere else.
From a professional point of view (I am an accountant) it saddens me as I can reduce the amount of tax you will end up paying and this will surely help you.
However I respect your wish to do it your way and wish you all the best payign whatever tax you feel you have to pay.
For the rest of us – hold tight there will be ways around this eventually.
I would consider looking at the commercial sector as once you have a mixture of properties you can structure your loans to be against your commercial properties which will still have 100% allowability of interest. (This is not advice)
Member Since February 2011 - Comments: 3453 - Articles: 286
2:31 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Gary Mason” at “15/07/2015 – 13:44“:
Hi Gary,
Your account has been suspended, but if you wish to discuss this please email me your telephone number to [email protected]
Member Since July 2013 - Comments: 357
2:41 PM, 15th July 2015, About 11 years ago
Hi Mark Alexander
You must know someone who can give us a clear definition of what the chancellor has said and what it means.
To me if I can not take away interest costs from my rental income. It will show a large profit. If I show a profit, tax will be due on profit shown.
I am really not be awkward but very confused.
Member Since January 2011 - Comments: 12193 - Articles: 1395
2:46 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Neil Robb” at “15/07/2015 – 14:41“:
Yea Neil I understand, please have a look at the .gov links posted on this thread. There isn’t a more reliable source.
I also know you are genuine.
Member Since February 2011 - Comments: 3453 - Articles: 286
2:47 PM, 15th July 2015, About 11 years ago
Hi Neil it’s Neil lol
Please see the example I have checked with Mark in the article 2020 Vision for Landlords as I think this helps explain the best way I know how 🙂
>> https://www.property118.com/2020-vision-for-landlords/76309/
Member Since October 2013 - Comments: 1020 - Articles: 47
3:27 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Neil Robb” at “15/07/2015 – 14:41“:
Hi Neil
You have described exactly what it means.
Landlords who hold properties in their own name will pay more tax unless their total income (including interest added back to their real rental profit) does not exceed £43,000.
Comments: 118
3:37 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Appalled Landlord” at “15/07/2015 – 15:27“:
(including interest added back to their real rental profit) …..there is the crux of all the problems “real rental profit” and “artificially inflated profit” are very different things
Member Since July 2015 - Comments: 1
4:40 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Gary Mason” at “15/07/2015 – 13:06“:
Err no!
To ‘wipe out’ £1000 of tax your expenses would need to increase by either £2500 if you are paying tax at 40% or £5000 if you are paying tax at 20%.