G Cox

Registered with Property118.com
Wednesday 8th July 2015


Latest Comments

Total Number of Property118 Comments: 29

G Cox

11:17 AM, 5th October 2015
About 4 years ago

My Meeting With George Freeman MP

I am a financial economist of 30 years standing and your comment is offensive and quite unnecessarily so.

It illustrates why you efforts are poorly directed; being a product of what appears to be a blinkered part of the BTL community and incidentally a very rich community judging by the examples you choose to use and I can assure you primarily rich because the financial environment has very accidentally favoured highly leveraged BTL .

To favour the latter against future BTL investors with your idea of sparing the existing borrowers, when you all have done so well by accident, just because you leveraged and other BTL investors did not or could not confirms my impression of the size of your blinkers

To gain traction you need un-blinkered expert advise to get the PR right.

I suspect George thinks most are lucky free loaders with their financial 'engineering' proceeds when crystallized( now or after inheritance) mostly spent abroad or on foreign products to the detriment of the UK .

You have not responded to my point that higher rate tax relief does not apply to interest costs inside companies and hence is no cash flow drain today on the Exchequer .

Why don't you focus on getting roll-over relief?

Signing out from this and all future discussion and leave you to enjoy your 'good riddance's.

PS I am max. leveraged on my BTLs.... Read More

G Cox

10:04 AM, 5th October 2015
About 4 years ago

My Meeting With George Freeman MP

I am sorry to disagree.

You cannot describe interest payment as a legitimate 'cost' unless it is in a company structure and there is no higher rate relief in tax on companies.

You don't have to borrow, or borrow as much . At the end of the day borrowing to buy property is a speculation: it is merely gearing.......making the returns more volatile.

As for discriminating against future landlords, words fail me.

I really do not know why you did not use the example of the working standard rate tax payer landlord (unless you are blinkered by being a large buy to let landlord). That is where it is really heinous .

You would have been better asking for roll-over relief so people can get their properties into a company : where they belong /... Read More

G Cox

19:49 PM, 11th August 2015
About 4 years ago

Summer Budget 2015 - Landlords Reactions

Could someone please remind me who gave us the excellent 150730 BTL spreadsheet, Ta.... Read More

G Cox

19:45 PM, 11th August 2015
About 4 years ago

How the budget will affect private landlords - EXAMPLE

Reply to the comment left by "Mark Alexander" at "23/07/2015 - 16:12":

Since they do not allow interest as a deductible expense in the calculation of taxable income for all BTL investors, the refund of 20% of interest is a subsidy; vulnerable to further reduction.

By the way, someone should check if they are changing the calculation of BTL taxable income for non-residents. If they still permit interest cost as a deductible for non-residents, they would be discriminating against residents by not allowing it.... Read More

G Cox

18:32 PM, 10th August 2015
About 4 years ago

Summer Budget 2015 - Landlords Reactions

Reply to the comment left by "KATHY MILLER" at "10/08/2015 - 18:00":

Assume ' Selling UK property' means properties where you live?... Read More