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.
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.