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Showing results for tags 'Clause 24'.
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Lease Options 'Babysitting' Mortages and Tax implicationsHi all I am new to lease options and had a couple of detailed questions. I may not have fully understood the mechanics of the investor 'babysitting' the vendor's mortgage but where does the risk of non-payment of the mortgage sit? Is this still with the vendor or the investor. I presume lease option only work if the mortgage company grants permission to let? And what happens when the mortgage come to the end of its fixed term and rates increase? Also are lease option (and rent to rent) shielded from clause 24 interest relief offsets? Any specific help or any resources / further reading help would be appreciated. Many Thanks Grant
Baffled by the new changes to taxation being introduced in April 2017 and how they affect YOUR situation. Start getting a handle on the bigger picture today by reading this recent tax guide and get in touch.............. Property and Tax (March 2016).docx
Tax changes for Buy to Let
Jon Hammersley posted a topic in General property discussionHello all i'm interested to hear your thoughts on this tax change within the Buy to Let sector. I have been forwarded a link by someone I know as there is a group of people who are looking to challenge this (https://www.crowdjustice.co.uk/case/clause24/). I cannot see how they can get away with such a change, it goes against the grain for any type of business. Are there any ways to get around this? I would be interested to hear anyone's thoughts/suggestions to get around it. A limited company may be one way but this would involve selling your personal property to your business, incur legal cost, stamp duty and capital gains tax. ps. I have donated to the above link, my thinking is that for a small contribution it could save me a lot of money if it is successful. Thanks for reading and I look forward to any replies and/or thoughts you may have.