Merryn Somerset Webb
speaker
7,023 appearances
46 recordings
1 series
first heard Apr 2026
last heard 2d ago
Merryn Somerset Webb’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 46 in all, peaking in Jun 2026 with 13.
Appearances
You can't borrow to invest in the FTSE one hundred or the two fifty, etc.
So it it's very different.
I get the comparison and it's very useful, but it's it's a bit apples and oranges.
Mm.
Yeah, if you'd been able to have eighty percent leverage in the um in the S P five hundred, that would be quite something on the chart.
Yeah.
Right.
Let's look then at what changed.
So there was a lengthy period, post nineteen ninety six, when you were really, really, really accruing capital gains and you weren't that fussed about your cash flow.
Wasn't really a big deal as long as you weren't having to pay into the thing.
Nothing really mattered because you were making tens of thousands of pounds every month, uh every year in capital gains.
But then there came a point, didn't there, where things began to change when house prices stopped going up.
up so fast and the tax regime changed and suddenly cash flow began to matter.
Mm.
And how does that work?
So previously you could offset your mortgage costs against your income regardless of what your marginal income tax rate was, but the change meant that it was only a twenty percent tax credit.
So you could only do it at the lower rate.
Okay, so you get to a point where if you don't move it into a limited company, it's possible that your cash flow goes negative, but you still have a tax bill, and at the same time you're not making capital gains in the way that you were previously.
In fact, across a lot of the UK, obviously you're making capital losses at the moment.
And so everything begins to change.
Showing 41–60 of 7,023 · page 3 of 352
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