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[Finance] Buy to Let Mortgages



Shropshire Seagull

Well-known member
Nov 5, 2004
8,463
Telford
Well done guys.We've got this up to 40 pages.50 is the next target to break the all time record on the longest BTL
thread on a football forum.

(anyone who's offended by this thread should bog off)

What do you guys think the interest rate will be in 3 years then 5 years( should easily get me 10 pages).

Shit, you were fishing all along just to get your thread count up and I've been caught, hook, line and sinker.

God darn .....
How green am I?

Regarding predicting future interest rates ......

feck off !
 

Triggaaar

Well-known member
Oct 24, 2005
49,900
Goldstone
Same here. Timing is very important. In London in 1997 the asset price equalled 5 years gross rental income.
Wow!
I even had one that a year's rent equalled the asset price.
What? That's past wow and into :moo:
Everyone told me not to buy it!
You know some dumb people.

At least CGT was "voluntary" then but I'd rather sell today and pay the tax.
Voluntary? How does that work?
 


knocky1

Well-known member
Jan 20, 2010
12,937
Wow!
What? That's past wow and into :moo:
You know some dumb people.

Voluntary? How does that work?

12th storey ex Council flat in Elephant & Castle. £9,400 in 1997.

If you told HRMC you'd sold, you paid CGT. The Telegraph coined the term Voluntary CGT at the time. Tax returns did not require Landlords to list the number of properties like today. So any being sold did not show up on a return.
 

LlcoolJ

Mama said knock you out.
Oct 14, 2009
12,982
Sheffield
12th storey ex Council flat in Elephant & Castle. £9,400 in 1997.

If you told HRMC you'd sold, you paid CGT. The Telegraph coined the term Voluntary CGT at the time. Tax returns did not require Landlords to list the number of properties like today. So any being sold did not show up on a return.
True.
 


Triggaaar

Well-known member
Oct 24, 2005
49,900
Goldstone
12th storey ex Council flat in Elephant & Castle. £9,400 in 1997.
Holy shmolie.

If you told HRMC you'd sold, you paid CGT. The Telegraph coined the term Voluntary CGT at the time. Tax returns did not require Landlords to list the number of properties like today. So any being sold did not show up on a return.
Er, what year did this seeming optional tax stop? I'm concerned I've paid more tax than needed.

Depending on the year, I'm going to be like one of the home sellers in those shitty purple bricks adverts.
 

knocky1

Well-known member
Jan 20, 2010
12,937
Holy shmolie.

Er, what year did this seeming optional tax stop? I'm concerned I've paid more tax than needed.

Depending on the year, I'm going to be like one of the home sellers in those shitty purple bricks adverts.

I think I read it in the papers last around 2009. Telling your accountant would have stopped it being voluntary.
For at least 8 years passport ID has to be produced for every sale and purchase for Land Registry (money laundering clampdown).

Tax on unhealthy profit is good and the rules should be tighter. Now.
 
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DJ NOBO

Well-known member
Jul 18, 2004
6,309
Wiltshire
Very true. Not aimed at anyone in this thread, but some people turn a positive event in making a huge financial gain, into a moan about a having to part with a relatively small part of it tax. Not seeing the big picture.

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.
 


boik

Well-known member
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.
As always, there’s a huge difference between what’s legal and what is morally right. Everyone s different I guess.
 

DJ NOBO

Well-known member
Jul 18, 2004
6,309
Wiltshire
As always, there’s a huge difference between what’s legal and what is morally right. Everyone s different I guess.

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.
 

Uncle Spielberg

Well-known member
NSC Licker Extraordinaire
Jul 6, 2003
42,770
Lancing
Gaming? What i suggested would be legal though? it seems like the only decent to get on the property ladder.

It is legal but is also can be exploited by people
 


Renegade1

New member
Mar 7, 2018
385
As always, there’s a huge difference between what’s legal and what is morally right. Everyone s different I guess.

If you are rich and try to avoid tax or try to pay very little as many do then you could say it's morally wrong.That includes the likes of Starbucks,Google etc.If you are far from rich then avoiding tax is understandable.Who wouldn't try it legally.
 

Triggaaar

Well-known member
Oct 24, 2005
49,900
Goldstone
I think I read it in the papers last around 2009.
:eek: Noooooooo!!!

I haven't sold a property since then, and I've paid full CGT on every one. I'd like to pretend I paid the tax because I have good morals, but no one would believe me anyway.
 

knocky1

Well-known member
Jan 20, 2010
12,937
:eek: Noooooooo!!!

I haven't sold a property since then, and I've paid full CGT on every one. I'd like to pretend I paid the tax because I have good morals, but no one would believe me anyway.

Was the rate 40% then?
You should tell Esther Rantzen there must be a "Heart of Gold" medallion gathering dust with your name on it.
 

Diablo

Well-known member
NSC Licker Extraordinaire
Sep 22, 2014
4,172
lewes
Am I the only one who loves paying tax.......Wish I was paying a million pounds a year.......Don`t you ?
 



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