Tuesday, September 30, 2008

Bradford & Bungley

If the Government wants to protect the taxpayer from the recent nationalisation of Bradford & Bingley, will it let HMRC cross reference it's tax records with Bradford & Bingley's self-certified and buy-to-let mortgages!?!

"Bradford & Bingley was the biggest buy-to-let lender through its subsidiary Mortgage Express."

1 comment:

Mark Wadsworth said...

Fair point. But HMRC already have records on who buys what property because they also administer Stamp Duty Land Tax, ditto HM Land Registry.

Further, most recent BTLers have no income tax liability anyway because the interest costs exceed rental income.

Which is argument No. 48 for Land Value Tax - at least they would be paying something.