£1.7 million landlord tax planning success

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Earlier this year we helped a couple to restructure their property rental business in such a way that they will pay no personal tax whatsoever on the next £1.7 million they withdraw from their Limited Company.

This was achieved by arranging bridging facility to allow them to withdraw capital from their business of up to their acquisition costs before completing a sale of their business to their own new Limited Company.

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RLA reaches final of national awards

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The RLA has reached the final of the upcoming Association Excellence Awards 2018. The association has been shortlisted in the ‘Overall Best Association – over 1,000 Members’ category, with its bi-monthly magazine Residential Property Investor also reaching the final in the ‘Best Association Magazine – over 20,000 circulation’ category. Alan Ward, RLA chairman said: “Reaching […]

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Gas certificates and Section 21 – be compliant or you may pay the price

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Landlords, did you know that if you did not provide a gas safety certificate at the start of a tenancy (be it a first agreement or written renewal after 1st October 2015), before the tenant moved in, you may find that any Section 21 notice served during the term is invalid?

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End Section 21 petition gets nearly 50,000 signatures

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A petition supported by the pressure group Generation Rent to “Scrap Section 21 of the Housing Act 1988, otherwise known as no-fault evictionsâ€� has nearly reached its target of 50,000 signatures.

The 38 Degrees petition is to be sent to the new Housing Minister James Brokenshire.

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Can I charge fees for managing my son’s properties?

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I used to own 8 rental properties in central London, which I have been managing myself for the last 35 years, even though I live abroad.

All properties, but two, have been gifted to my 25 year old son

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Negotiating fee to renovate – Am I price Taker?

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I own a Leasehold apartment and would like to renovate, and have been proposed a fee by the Freeholder for overriding the restriction in the Lease If £20,000 plus legal costs.

This is before any cost of renovation.

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Rate rise most likely on hold

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Bank Rate:

The prospect of a Bank of England interest rate rise on August 2 had been growing over the past weeks, but now the chances of a rise have diminished. The change in outlook is as a result of low and steady inflation figures and slow wages growth.

The June 2018 figures just released by the Office for National Statistics (ONS) show that the consumer price index has remained unchanged or slightly down at 2.3% from the previous month, confounding expectations and warnings of a rate rise, following the first rise in 10 years in November last year from 025 to .05 per cent.

Despite rising petrol prices, and a sharp increase in the cost of gas and electricity, inflation remains low as clothing and other items, such as computer games, had their prices slashed in the summer sales. House prices across the UK have also been rising at their slowest pace for just under five years.

With the Bank of England’s inflation target set by government at 2%, just below the current level, slow growth in GDP over the first half of the year, thought to be down to the bad weather in the spring, and weak wages growth, pundits see little scope for a rate rise in August.

GDP growth in the three months to May recovered to 0.2 per cent from zero in the three months to April, in a sign that the sluggish start of the year was indeed weather-related, and economists are now forecasting 0.4 per cent growth for Q2. This view is supported by the purchasing managers’ index of private sector activity for Q2, pointing to better economic growth for the UK economy for the second half.

The services sector has picked-up and retail sales have also rebounded, with a 13 per cent rise in May, according to the ONS, so, depending where inflation goes from  here, if this continues we may expect a further rate rise in November.

ONS – Inflation and price indices to June 2018

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Blog: TNT – Tenure-neutral Time? 

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Could a change in legislation banish the concept of ‘them’ and ‘us’ when it comes to private and social landlords? RLA policy manager John Stewart on how the Government could make life easier for everyone.  When I meet with our members, whether at training events, forums or exhibitions and conferences, one question crops up in […]

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Blog: Section 24 and your next tax return

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RLA tax partner RITA4RENT has seen a huge increase in the number of calls on Section 24 – and how the changes to mortgage interest relief are reflected on self-assessment tax returns. Tax expert Michael Wright explains. Another tax year end passes, where has the year gone? Now April 5th has passed, landlords are now able to […]

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Landlord Law Conference Course 2018

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Special Offer:

A special training 50% discount offer for LandlordZONE® readers – ending tonight – 20 July at 11.30 pm

Law for landlords is getting trickier and trickier and landlords and their agents have to keep up.

Local Authorities are coming down harder too on things which a few years ago they might have let go.

100% compliance is the only way you can really be safe from prosecutions and penalties.  But how do you do that?

Well, a good start is to get the Landlord Law Conference Course 2018.  This has video recordings of all ten talks at the recent Landlord Law Conference (18 May 2018) along with the notes and power points plus audios you can download and listen to you in the car.

Talks include:

• Housing Barrister Robert Brown on avoiding problems with section 21
• Solicitor David Smith on problems with rent to rent and an HMO Update,
• David Cox CEO of ARLA Propertymark on letting agent regulation, and
• Mike Morgan from TDS (the Conference lead sponsors) on how to get the best results at deposit adjudications.

You get access to the course material for 12 months and can view the material as often as you like during that time.  The site is mobile responsive so you can watch all the videos on all devices, including your smart phone!

The course, which carries 5 hours CPD, is normally £150 but it is currently on offer at £75 (including VAT) – which is 50% off.

However this offer will close at 11.30 tonight, 20 July.

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