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It’s always been the way, I have a friend who is trying to become a Lib Dem mp. Campaigns about how the tories have ballsed up housing. But in real life , he owns half a dozen properties, and thinks nothing of screwing over his tenants . Hypocrisy is a real bug bear of mine.

im Defo not condoning the type of schemes those celebs have been caught out on. But if HMRC is ok with a particular scheme, I would say that gives it moral value. to an extent. And yes, nobody has employed an IFA to save the rainforests. It’s to make money. Surely that can’t be dressed up any...

There are two types of people. People who like having more money and would be open about that. And people who like having more money, but wouldn’t be open about it as they think it reflects badly on them.

What i found odd is that hmrc leave it open to people to get themselves a good accountant and find loopholes. They are cool with this.

Fair enough, but if you are faced with tens of thousands pounds cgt bill that could change your children’s lives, you’re going to try to avoid paying it it aren’t you ? Anyway, it’s perfectly legal to find legal loopholes in tax.

I don’t know the answer to your question but I do know they defend against this hard. If it’s any consolation I pay 10% plus vat. At least it’s tax deductible

Well, you clearly have a few bob, so if you ARE a fit girl as well, then you tick my only two boxes. I’m interested. Love Dale x

It has the feel of a boring dinner party that’s dragged on past 3am

Thanks for reply. I worked it out that when you take all the tax relief into account , you’re only risking 14% of your money with eis. But your money is tied up for ages, and it seems like a ball ache . My ifa friend says it’s s no brainer to take the eis route, if you’re facing cgt.

You’d usually be right ......retaliating hard and fast is a good policy on nsc

As I understand it , investing in eis schemes isn’t tax evasion . It’s actively encouraged as a way of financing start-ups. I’m not sure how successful people have found out though

It’s a tough time for savers. Undoubtably property remains a decent long term bet though . You’ve had enough advice though renegade. Are you going to do it or not ?

Ignore me. A little part of me believes unicorns are real too .

Jeez, lighten up. For the record, I enjoyed your detailed and well put together post. One of many informed posts on this thread.

I actually wonder If it was a genuine and fairly noble attempt to free up more housing . But the end results is exactly as you say

Has anyone tried eis as a way to avoid capital gains tax when selling second property?

People like the queen ? Who is like the queen ?

As I understand it and how it's worked for me. Say you get paid 40k. You would be taxed - 0% on personal allowance and 20% for the rest . If you made a further 10k in profit from rental income (with allowable expenses factored in) , you would be taxed on the 5k above the 45k limit (for 20%)...

It's seen by Hmrc as all one income . Worth loading up on your pension to keep taxable pay in 20%

Question for the panel. I bought my btl in 2006. . I never deducted the cost of setting up the mortgage (2k) in my annual self assessment as an allowable expense as I thought it was a capital expense. I was wrong. Can I still claim now on this year’s income return ? (Potentially saving...