Ian Watson

Registered with Property118.com
Wednesday 30th December 2015


Latest Comments

Total Number of Property118 Comments: 3

Ian Watson

14:49 PM, 23rd May 2016
About 4 years ago

Not the time to sell and will CGT ever come back down?

Alison,
You could well be right, especially in your obviously very sensible circle. However, from my experience as an IFA over the last 15 years or so, most landlords I have met have a strong disrespect for IFA's, and steer clear of anything involving the stock market.

They seem to prefer "tangible" assets, and invariably have stories of friends who have been ripped off by a sharp suited dude from somewhere with a swish office in the City. Undoubtedly, this can be justified ( eg. Equitable Life ) but it sometimes means they miss out on what could be to most, very sensible advice on the alternatives.

These are also sometimes the very people who come to Accountants and IFA's bemoaning the taxes involved in the Buy to Let business and want to find ways around them, which is of course dangerous to say the least.

By all means be / stay involved in the residential property letting business, but be aware that Govts of the future may well ramp up the taxes and that there may well be more flexible and tax efficient ways to prepare for retirement, as you seem to be already.... Read More

Ian Watson

10:50 AM, 23rd May 2016
About 4 years ago

Not the time to sell and will CGT ever come back down?

Reply to the comment left by "Simon Misiewicz" at "23/05/2016 - 10:37":

You are a fellow IFA, ( or Accountant ) I guess ? ! ?

I am an ex city Accountant turned IFA, and also a small scale landlord, so am not against BtL per se. I have them as part of a diversified overall retirement strategy, with many different asset types in place.

This is to give me flexibility in how I take funds in retirement, both income and capital , to reduce tax and avoid current and future Govt "raids" - eg. on Landlords ( see recent evidence) or on other wealth via the Banks ( see Cyprus in 2012 or so . . . ) .

Who knows if it will work, but I certainly don't want all my eggs in any one basket, whether that be property, stock markets or even cash !... Read More

Ian Watson

10:30 AM, 23rd May 2016
About 4 years ago

Not the time to sell and will CGT ever come back down?

With all this stuff about taxes ( Stamp Duty, Income tax, CGT and IHT ) it makes me wonder why most landlords are anti Pensions.

Nowadays, you get tax relief on the way in, tax free growth, and a tax free lump on the way out. You don't put all you eggs in one basket, . . . oh, and you can have the lot back now under the new rules as well, without having to wait for "chains", timewasters, parasitic lawyers, incompetent Estate Agents . . . et a! !

Also, you can pass them on with no IHT either . . . worth a look ?... Read More