Is anyone investing in buy to let now?

(4 Posts)
RosieLeaLovesTea Thu 25-Nov-21 23:01:17

Hi all
I have one but to let - I have had it 10years. I want to release some equity remortgaging so look to buy another buy to let in the spring. But I have just had my tax calculation. With all the tax changes on buy to let and property income the tax due has gone from approx £500 to £2000 a year. So I estimate to get another property with similar rental it will be approx £4000 a year in tax. It just seems not worth it. Any extra income is going straight out in tax.

Is it worth the hassle?

OP’s posts: |
ComtesseDeSpair Fri 26-Nov-21 14:01:17

I suppose it depends on whether you view it as income or an investment. My BTL flats don’t make me any money on a monthly basis and won’t for some time, but they’re my retirement plan - once the rental income has paid the mortgages off, I’ll sell and have a lump sum.

But no, I wouldn’t invest in BTL if what I wanted was e.g. to pack my job in and use them as a passive income instead.

flashbac Sat 27-Nov-21 08:06:41

Don't forget capital gains if you do buy for growth.

flashbac Sat 27-Nov-21 08:07:02

*Capital gains TAX

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