Let’s club together for our BTL sell-offs?
Hello, with a glass of red in one hand I had a thought . . . I am considering selling off a BTL house valued at £1.4m which makes less than 3% return in rent – but I hate the idea of giving this government the £350,000 CGT it will force me to hand over if I wish to exit this screwed BTL business.
I am sure there are many more LLs who face selling up due to the government tax/regulations that strangle a good landlord providing a lovely large house in London without profit as the only motivator.
Why don’t we club together, hold back our sell-offs collectively (thus millions in CGT ), and sell/pay ONLY if they reverse section 24?
Governments have accepted a lot less to implement far more, plus the Press may then have some understanding about the amounts of tax we pay towards schools, nurses etc.
Yours,
Dick Turpin 🙂
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The postcodes where homes sell for 110% of the asking price
Member Since July 2017 - Comments: 462
4:24 PM, 5th May 2023, About 3 years ago
Reply to the comment left by NewYorkie at 05/05/2023 – 15:50
Look at the final paragraph of my post at 15.21 pm
Member Since June 2014 - Comments: 1564
5:07 PM, 5th May 2023, About 3 years ago
Reply to the comment left by Dennis Forrest at 05/05/2023 – 16:24It’s wrong unfortunately.