No, it's just non deductibility of mortgage interest, although they've offered a 20% allowance. Why should landlords get mortgage relief when ordinary home buyers do not?
@@John-ou4rm but you don't pay capital gains tax when it's your own home ,you do when it's a buy to let ,CGT,,so buy paying cgt it makes it an investment, as so all expenses, including interest on loan are deducted as with ALL OTHER CGT PAYERS
@@nancyhood8395 That's why they've split the model. If you're in a company format then there's one set of tax rules, and when you do it in a private function there's another. I have ZERO sympathy for Landlords, go invest your money into something that builds production and capability, not acting as a parasite rentier that adds nothing to the value chain and simply extracts funds from more financially vulnerable people.
Hi, I am taking that business opportunity back as i just realized how corrupted is that country and how annoying bureaucracy is yeah i think i was never spouse to say that :)) Ok How about Mars? :)) I just want to be happy :)) @@WiseWords7867
@@WiseWords7867 HI no i changed my mind. In Romania is alot of buroucracy and corruption. Not a good idea to invest. i am affraid. Their mentality is same to russia.
Property investment is dead now here in the UK..........absolute farce when section 24 was introduced. I sold up and invested everything in Bitcoin, best thing I ever did.
For you but not for wealthy people with large portfolios. Just ordinary useless Brits. You sow what you reap. You buy the papers and vote how u vote so stop crying.
Property should never be an investment, it should only be viewed as somewhere to live. Do away with all tax relief on properties. Replace purchase tax with 45% tax on the increase in value of the property when you sell it, regardless of income etc.
Everything in life is an investment. In reality if no one invested in properties I wonder where renters would rent from? The properties in worse condition are from councils. Poor quality, poor maintenance and normally in high crime areas. Less landlords are investing in property and look at what’s happened with rent as a result of supply. People are clueless. Don’t understand the basics of the current housing structure. They want socialism but then vote for right win parties.
Thanks for the heads up. On the radio it say everything will get cheaper and the gov is now taking even more money. Dude how much tax to these people take?>:))) This ruined my little hope i had for having hopes to be a free man. Working is not really worth it. Never mind investing.
Thanks Colin! HMO applications are still allowed and you will likely require planning permission to do so if you’re in an Article 4 area. I can do a video on this if you like for more guidance? However it’s are looking likely they will introduce new (and more strict) planning permission rules for furnished holiday let’s - similar to what already exists with HMOs
Nice video but when you say 'tax' please can you be more specific. Do you mean Income Tax, Capital Gains Tax, Value added Tax, or what? You may know what you are talking about but it needs to be clear, precise and accurate! You say 40% 'tax' - is this based on higher bracket income tax? Does it assumes it is all at 40% and so you are also earning 50k from other sources? If you form a ltd company would you take income as dividends?
Hey - apologies I thought I was clear on the income tax bracket for higher rate payers which is 40%. But your comment has been noted for the next video 👍
Ok So I've been saving hard and can pay off my mortgage later this year about £90K. But I'm torn do I pay off my mortgage and be done with debt. Or do I carry on paying my mortgage, which willdouble to about £800 (I can afford this unless I get made redundant), and then buy 3/4/rentals using my 80K as a deposit. I should definitely be able to get 750 - 1000 per month per house in rent. I'm concerned with all these tax changes, I'm a high highest rate payer just how much I would make each year doing that and If it's enough to cover the mortgage/repairs. Not to mention if I sell I then need to pay CGT. Any sensible thoughts anyone ??
The Tories exist to protect the wealth of large landowners and rentiers. Therefore their policies benefit large landowners and rentiers not small landlords. In fact anything that's bad for small landlords is good for the people who own the Tories because they can snap up the assets of the small fry when they sell up.
Good!!!!! Whilst there are people without their own home the authorities are right to make multiple property owners a little bit more less lucrative. I’m in the mindset that it should be law that no one owns more than 3 properties. I’ve always thought that renting long term is dead money. Well not to the landlord as in the past he’s been laughing on his sun lounger!!!
@@garethwilliams4467 people are struggling to get onto the housing ladder. With supply of affordable houses so low this in my opinion makes sense, or the rich will only get richer
Jealousy like this is disgusting. Why not save your own money and do something with it rather than hope those who have done so get sabotaged. I own multiple houses because I worked my ass off. Saved my money and never spent it on stupid things. I come from absolutely nothing and my siblings are still struggling to make ends meet. All i did different was save all my money
@@jorgschulze3393what do you want a medal. So what?. I ran factories production building materials that were used in building 200,000 houses per year and employed 2,000 people.
Why the gov make certain tax changes and why they say they are making them often are separate things. For example if you look at the basic tax changes it forces people to put everything into ltd companies which isn’t feasible for small landlords with 1-6 properties. Ltd companies tax structure will always be safe as most in gov, the wealthy and people in power run their asset portfolios through trusts and ltds which are sometimes set up in tax havens. Why the gov is now pushing the lower cgt is because the same people at the very top are sitting on a ton of cash that they need to get rid of or rather invest somewhere and best place to do that is in assets will will climb in value later this / next yr. High income tax earners are sitting on the best assets so getting hold of those will be great. My friends this is how you do a basic wealth transfer
Property investing is for the rich who have more money than they know what to do with. With current interest rates and house prices and tax on rental incomes it makes no sense . Stamp duty etc. is a joke. All the best investors there is better money to be made in bank deposits if you are sitting in cash
Your amazing love how you break things down. I’m subscribing 😊
Awesome 🙌
It's discrimination, no other businesses, pay tax on turnover!!!it should be challenged, tax is for all, not specified to one entity!!!
No, it's just non deductibility of mortgage interest, although they've offered a 20% allowance. Why should landlords get mortgage relief when ordinary home buyers do not?
@@John-ou4rm but you don't pay capital gains tax when it's your own home ,you do when it's a buy to let ,CGT,,so buy paying cgt it makes it an investment, as so all expenses, including interest on loan are deducted as with ALL OTHER CGT PAYERS
Yeah. And then you are surprised rents go up lol
@@nancyhood8395 That's why they've split the model. If you're in a company format then there's one set of tax rules, and when you do it in a private function there's another. I have ZERO sympathy for Landlords, go invest your money into something that builds production and capability, not acting as a parasite rentier that adds nothing to the value chain and simply extracts funds from more financially vulnerable people.
@@John-ou4rm stocks and shares house people ,and so do banks ,you talk about parasites,
Dude lets make a airb&b in Romania. There is nothing like here. I have all the resources I am also a builder and life is much sweeter down there.
Really? That’s great, how about the property prices? And property taxes?
Sounds great! For now I’m investing in UK - but never say never :)
Hi, I am taking that business opportunity back as i just realized how corrupted is that country and how annoying bureaucracy is yeah i think i was never spouse to say that :)) Ok How about Mars? :)) I just want to be happy :)) @@WiseWords7867
@@WiseWords7867 HI no i changed my mind. In Romania is alot of buroucracy and corruption. Not a good idea to invest. i am affraid. Their mentality is same to russia.
😂😂😂 yeah I’ve heard it’s a brilliant country for business if you wanna give up everything 😂😂😂
Property investment is dead now here in the UK..........absolute farce when section 24 was introduced. I sold up and invested everything in Bitcoin, best thing I ever did.
Lol pie in the sky
For you but not for wealthy people with large portfolios. Just ordinary useless Brits. You sow what you reap. You buy the papers and vote how u vote so stop crying.
Section 24 for personal investment but on Ltd company, no section 24. Invest in assets not on virtual coins.
Property should never be an investment, it should only be viewed as somewhere to live.
Do away with all tax relief on properties.
Replace purchase tax with 45% tax on the increase in value of the property when you sell it, regardless of income etc.
Everything in life is an investment. In reality if no one invested in properties I wonder where renters would rent from? The properties in worse condition are from councils. Poor quality, poor maintenance and normally in high crime areas. Less landlords are investing in property and look at what’s happened with rent as a result of supply. People are clueless. Don’t understand the basics of the current housing structure. They want socialism but then vote for right win parties.
Thanks for the heads up. On the radio it say everything will get cheaper and the gov is now taking even more money. Dude how much tax to these people take?>:))) This ruined my little hope i had for having hopes to be a free man. Working is not really worth it. Never mind investing.
Can you also deduct service charge, management fees? Not with the company
Thank you so much for this lecture
Hi James, im interested in learning more. When will there be an opening on your property university programme?
We open more JPU seats on 31st May. Stay tuned on my socials as we release the new waiting list soon 👍
Very well articulated pal. Did you say applications for HMO’s no longer allowed?
Thanks Colin! HMO applications are still allowed and you will likely require planning permission to do so if you’re in an Article 4 area. I can do a video on this if you like for more guidance? However it’s are looking likely they will introduce new (and more strict) planning permission rules for furnished holiday let’s - similar to what already exists with HMOs
Great! Thanks for taking the time to respond. No need for a video, all good. Have you a link for the university? I'm in!@@jamesproperty_
Nice video but when you say 'tax' please can you be more specific. Do you mean Income Tax, Capital Gains Tax, Value added Tax, or what? You may know what you are talking about but it needs to be clear, precise and accurate! You say 40% 'tax' - is this based on higher bracket income tax? Does it assumes it is all at 40% and so you are also earning 50k from other sources? If you form a ltd company would you take income as dividends?
Hey - apologies I thought I was clear on the income tax bracket for higher rate payers which is 40%. But your comment has been noted for the next video 👍
Ok So I've been saving hard and can pay off my mortgage later this year about £90K. But I'm torn do I pay off my mortgage and be done with debt. Or do I carry on paying my mortgage, which willdouble to about £800 (I can afford this unless I get made redundant), and then buy 3/4/rentals using my 80K as a deposit. I should definitely be able to get 750 - 1000 per month per house in rent. I'm concerned with all these tax changes, I'm a high highest rate payer just how much I would make each year doing that and If it's enough to cover the mortgage/repairs. Not to mention if I sell I then need to pay CGT. Any sensible thoughts anyone ??
Never sell a btl ,unless absolutely necessary, REMORTGAGE ITS TAX FREE ,
@@nancyhood8395 no the house I'm living in is currently the only one I have a mortgage on.
You just demonstrated tax is on the out.
tax perks for the rich, bigger squeeze on the middle class....
Sensible changes
The Tories exist to protect the wealth of large landowners and rentiers. Therefore their policies benefit large landowners and rentiers not small landlords. In fact anything that's bad for small landlords is good for the people who own the Tories because they can snap up the assets of the small fry when they sell up.
Good!!!!! Whilst there are people without their own home the authorities are right to make multiple property owners a little bit more less lucrative. I’m in the mindset that it should be law that no one owns more than 3 properties. I’ve always thought that renting long term is dead money. Well not to the landlord as in the past he’s been laughing on his sun lounger!!!
it's not that easy
:) this is hilarious. And who are you to say 3 is allowed ?
@@garethwilliams4467 people are struggling to get onto the housing ladder. With supply of affordable houses so low this in my opinion makes sense, or the rich will only get richer
But you'd be the first to say that government and big banks/corporations are just fine to be landlords. Crabs in a bucket mentality.
Jealousy like this is disgusting. Why not save your own money and do something with it rather than hope those who have done so get sabotaged. I own multiple houses because I worked my ass off. Saved my money and never spent it on stupid things. I come from absolutely nothing and my siblings are still struggling to make ends meet. All i did different was save all my money
If you own more than one property and renting it out you should pay more tax in my opinion.
That will increase the rent, which the same people complain to be very high.
Time for landlords to pull up those bootstraps and stop eating so many avocados.Alternatively, might be time you get a job and contribute to society.
What an idiotic comment.
What have you contributed? I built eight houses and 15 flats.
@@jorgschulze3393what do you want a medal.
So what?.
I ran factories production building materials that were used in building 200,000 houses per year and employed 2,000 people.
Why the gov make certain tax changes and why they say they are making them often are separate things. For example if you look at the basic tax changes it forces people to put everything into ltd companies which isn’t feasible for small landlords with 1-6 properties. Ltd companies tax structure will always be safe as most in gov, the wealthy and people in power run their asset portfolios through trusts and ltds which are sometimes set up in tax havens. Why the gov is now pushing the lower cgt is because the same people at the very top are sitting on a ton of cash that they need to get rid of or rather invest somewhere and best place to do that is in assets will will climb in value later this / next yr. High income tax earners are sitting on the best assets so getting hold of those will be great. My friends this is how you do a basic wealth transfer
Great video that mate. Thanks for explaining
My pleasure 👍
Do U think they will eventually make the same changes but with ltd companies that they have with personal name properties
No. Becait will hurt their billionaire chums
Do overseas residents pay cgt on main dwelling?
Good
Landlords don't like losing money.
They will buff the prices
Property investing is for the rich who have more money than they know what to do with. With current interest rates and house prices and tax on rental incomes it makes no sense . Stamp duty etc. is a joke. All the best investors there is better money to be made in bank deposits if you are sitting in cash
That’s daylight robbery they see Landlords as easy targets.
Ah, now let’s all cry.
What if there's no mortgage on a property & a room is let out?
if you live there, no tax
Just buy Bitcoin. Non of this to worry about…