BTL business. Starting capital.

[eek]

we all have them accountants , they don't give answers to questions we don't know. He's saying he has extensive experience and know how so I'm asking to share?

I believe there are a whole set of seminars where those who have made money from BTL sell you their "expertise".

I really don't get why new posters expect people to give very valuable advice away for free.

[LondonPM1]

Probably by not investing in an over priced asset which the Government has taxed highly and could potentially focus on again (as there isn't many other areas where money can be raised at the moment).

It really wouldn't surprise me if tax relief on loans was removed from residential housing..

I agree this is not a good time to be buying especially an investment. Evictions will get harder cgt higher.

Housing and London is likely to tank 10%++

[LondonPM1]

I believe there are a whole set of seminars where those who have made money from BTL sell you their "expertise".

I really don't get why new posters expect people to give very valuable advice away for free.

He is being sarcastic. These webinars are a waste of time and get rich for the presenters. Stay away

[GitMaster69]

I believe there are a whole set of seminars where those who have made money from BTL sell you their "expertise".

I really don't get why new posters expect people to give very valuable advice away for free.

thank you for rejecting my request to share, however I don't remember asking YOU?

[Lance]

Who pays CGT. LTD?
Are you saying the loan itself will be capital gain for the LTD?

I don't want to be rude but if you don't know who pays CGT you don't stand a chance of getting the difficult parts..
So either get an accountant or give up on running it via a LTD.

[ChimpMaster]

So what's your most tax efficient, efficient wealth growth approach ?

Probably getting a good accountant.

Yes, a good accountant who understands not only property but also how to fund the business through inter-company loans or director loans.

My most tax efficient wealth growth approach? Not sure I know how to answer that. I'm not chasing wealth any more: the time for that has gone, for me personally and what with the economy and global situation being what it is. I have chosen to retire from IT and from any 'job' even though I am 20 years away from official retirement. The S24 tax hit has made PAYE work ineffective and senseless. I have crunched numbers to the nth degree - it's better for me and the Mrs to stop working and just run the BTLs. Better in terms of quality of life: we won't make a huge amount of £ but we will live a decent life with time for the family. If I work in PAYE my effective marginal tax rate will jump to something like 70%, so it just isn't worth it.

[GitMaster69]

Yes, a good accountant who understands not only property but also how to fund the business through inter-company loans or director loans.

My most tax efficient wealth growth approach? Not sure I know how to answer that. I'm not chasing wealth any more: the time for that has gone for me personally, and what with the economy and global situation being what it is. I have chosen to retire from IT and from any 'job' even though I am 20 years away from official retirement. The S24 tax hit has made PAYE work ineffective and senseless. I have crunched numbers to the nth degree it's better for me and the Mrs to stop working and just run the BTLs. Better in terms of quality of life: we won't make a huge amount of £ but we will live a decent life with time for the family.

I probably could be there now, I've only 2 but highly profitable, planning to expand to further 2-3 in 2021, contracting market permitting

[LondonPM1]

I probably could be there now, I've only 2 but highly profitable, planning to expand to further 2-3 in 2021, contracting market permitting

What does proftable mean ? Income yield numbers? Are they HMOs? Capital growth or income? Where in the UK

[LondonPM1]

Yes, a good accountant who understands not only property but also how to fund the business through inter-company loans or director loans.

My most tax efficient wealth growth approach? Not sure I know how to answer that. I'm not chasing wealth any more: the time for that has gone for me personally, and what with the economy and global situation being what it is. I have chosen to retire from IT and from any 'job' even though I am 20 years away from official retirement. The S24 tax hit has made PAYE work ineffective and senseless. I have crunched numbers to the nth degree it's better for me and the Mrs to stop working and just run the BTLs. Better in terms of quality of life: we won't make a huge amount of £ but we will live a decent life with time for the family.

So you are 45 or 47? Not bad

I see where you are coming from - Its partly why i posted the thread on what 100K income does to you take home pay

I ve come to realise I am in the same boat - I cannot get a PAYE job in the uk again

[GitMaster69]

What does proftable mean ? Income yield numbers? Are they HMOs? Capital growth or income? Where in the UK

Both income and capital growth. I'll keep to myself the details
I was lucky enough to buy one flat in middle of nowhere (close to the center though) only to be surrounded by 3x more expensive high rises which inflated it's value 3 years later. The other steadily grows 8% a year yielding around 50% of deposit net yearly after repayment mortgage. If I transferred both into interest only I could retire now having 2-3k income monthly. I want to retire by 40 so 3 more years to accumulate as much as possible.

Now that I have proven model I want to expand on that and accelerate buying (which is not easy as supply is also tulipe)