First Rent Smart Wales prosecution
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A landlord has been hit with a court bill of £5,570 for operating an unlicensed HMO and breaching Rent Smart Wales licensing requirements. Robert Ivor Grovell from Tram Lane, Llanfrechfa, Cwmbran was fined £4,400 by Newport magistrates and ordered to pay £1,000 in costs and a £170 victim surcharge. Newport Council prosecuted the property owner […]
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The Happy Tenant Company acquires well known Landlord and Letting business
The Happy Tenant Company (HTC), a residential asset management company, is pleased to announce the acquisition of The Landlord and Letting Show, The Landlord and Letting Awards and The Landlord and Buy to Let magazine, alongside plans to host their first landlord conference later this year. Recognised in the industry, the Landlord and Letting show […]
… LandlordZONE.
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Sudden increase in the use of Letting Agents
The proportion of landlords who use a letting agent to help manage their property has spiked since the end of last year, according to a recent survey of property investors.* Six in ten (61 per cent) landlords say they currently use a letting agent to manage their properties, a rise of seven per cent since… Read more
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Furniture Showroom into 15 Flats
The following project outlines how one of our clients used our flexible property funding to turn a profit of £250,000. The client, an experienced Property Developer, purchased a former furniture showroom in Liverpool and transformed it into 15 residential flats. The client drew down the funding in multiple tranches in line with his schedule of… Read more
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Havering Announce Plans For £1180 Landlord Licence
After an informal consultation earlier this year, the London Borough of Havering has taken the decision to start a consultation on two additional licensing proposals. They are looking for the opinions of landlords, residents, tenants, and any other interested parties on the consultation that ends 28th July 2017. The two proposals that the Havering are asking […]
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Howard Flight: In defence of the much-needed buy-to-let market
Lord Flight is Chairman of Flight & Partners Recovery Fund, and is a former Shadow Chief Secretary to the Treasury. This article was first published on Conservative Home here. In the Party’s manifesto for the next five years the future of the important private rental market got scant attention. But if we are to deliver […]
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Are Landlords Ever Required To Pay National Insurance?
Some accountants have been telling their clients that if they want to claim they run the “business” as a “partnership” then they will automatically have to pay National Insurance. “That can’t be right”, I hear you cry! Well it’s not quite clear cut, so I decided to do some more research on the subject and… Read more
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Are Joint Buy-to-Let Owners Automatically A Business Partnership For SDLT Exemption Purposes?
Until quite recently, many have argued that a partnership doesn’t exist unless HMRC has issued a rental property Partnership Unique Tax Reference number “UTR” and that three years of partnership returns have been submitted and accepted. However, earlier this year I was made aware of HMRC issuing non-statutory clearance for the SDLT exemption of a… Read more
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Tenancy Surrender & Mitigating Losses
Commercial & Residential: Can a landlord insist his tenant pays rent until the end of the tenancy term when the tenant abandons the property or surrenders the tenancy early? The case of British Westinghouse Electric Coy v Underground Electric Railways Coy [1912] AC 673 firmly established the legal principle in English contract law that a […]
… LandlordZONE.
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Declaration of Trust
HMRC charge tax on the beneficial ownership of rental profit and capital growth from rental properties, HOWEVER, mortgage lenders take their security against legal ownership. It has been possible to split legal and beneficial ownership of property since the days of the Christian Crusades. There are three primary tax reasons for creating a partnership by splitting beneficial ownership on… Read more
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