Quote:
Originally Posted by Maggy J
And this scheme..got any opinions on that?
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Clause 24? - I can't think of any other business where you don't get tax relief on a loan you took out to run the business.
There are going to be some landlords out there where the tax bill exceeds what's left after you take the interest and management fees off the rent.
Only realistic outcomes are
1. Landlords hike the rent up to at least a level where they aren't out of pocket
2. They go under, house gets repossessed and tenants get made homeless. Putting more pressure on the local authority.
Either way the real losers are the people actually renting and the rest of us paying the Council Tax.
I'm all for level playing fields, so when the government goes to the likes of Tesco, British Gas, BP et al and says
"Sorry about this, but you have to now pay tax on those interest charges for the loans you took out to buy equipment..."
Was that a squadron of stealth bomber pigs flying past my window
