Property118 Nominated For Prestigious Award

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WE NEED YOUR HELP TO WIN!

We are delighted to have been nominated for the highly prestigious “Property Investor Webite of the Year” award for 2018.

However, it all comes down to public voting now and we have some tough competition including:-

• NLA
• RLA
• Property Tribes
• The Property Hub
• Property Forum

To win this award would be a sign that you truly value what we do

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Update on Making Tax Digital

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Digital Tax:

Making Tax Digital (MTD) is a key plank in the government’s drive to digitise tax so that eventually individuals and businesses will no longer file an annual tax return. Currently, every individual and business can access to their personalised digital tax account, and HMRC says these are being regularly expanded and improved.

HMRC’s aim is to become one of the most digitally advanced tax administrations in the world, and as a result the government has announced the roll out for Making Tax Digital.

The programme has been delayed to give businesses more time to prepare, and they will not now be mandated to use the Making Tax Digital for Business system until April 2019, and then only to meet their VAT obligations. This will apply to businesses who have a turnover above the VAT threshold – the smallest businesses will not be required to use the system, although they can choose to do so voluntarily.

HM Revenue and Customs (HMRC) last week published further information on Making Tax Digital (MTD) to support businesses and accountants in the run-up to the start of the mandatory MTD VAT service from April 2019.

This includes:

• New guidance on VAT
• A list of software developers HMRC is currently working with during the MTD VAT pilot that have already demonstrated a prototype of their product ready to start testing with businesses and/or agents.
• A communications pack to provide stakeholders with information to support businesses and agents to prepare for MTD.

As part of MTD, businesses registered for VAT with a taxable turnover above the VAT registration threshold of £85,000 will need to keep VAT records digitally and file their VAT returns using MTD compatible software. This will start from their first VAT period starting on or after 1 April 2019.

Businesses with a taxable turnover below the VAT threshold will not have to operate MTD, but can still choose to do so voluntarily.

The VAT guidance provides information to customers and adds to amendments to the VAT Regulations made earlier this year. The notice also gives guidance on the digital record keeping and return requirements of MTD for VAT including:

• Who needs to follow the MTD rules and from when.
• What digital records businesses must keep, and a series of HMRC directions that relax these requirements in certain circumstances (such as where a mixed rate supply is made, where a third party agent makes or receives supplies on behalf of a business, and where a business uses a special VAT scheme such as a retail scheme or the Flat Rate Scheme).
• How businesses must use software to keep digital records and file their returns from those digital records, including information on when programs do and do not need to be digitally linked in situations where a combination of software programs is used. Given that VAT registered businesses and their tax agents already use a wide variety of different systems and programs to produce their VAT returns, the notice includes a number of illustrated examples to show customers how to ensure their specific set up will be compliant with the regulations from April 2019.

Businesses above the VAT threshold are not required to use MTD for their VAT returns until April 2019 but HMRC has already started piloting the changes with small numbers of invited businesses and accountants. This will be widened out to allow more to join later this year. In the meantime, businesses can start to prepare now by ensuring they are keeping their records digitally and in accordance with the rules set out in the notice.

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Game changer – what the ’88 Housing Act did for us

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For buy-to-let landlords 1988 was a vintage year, with the introduction of ASTs and Section 21 along with the deregulation of rents. Here we look back 30 years at how the Housing Act 1988 transformed the rental market. The introduction of the Housing Act 1988 is credited with opening up buy-to-let to an army of […]

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BLOG: Five things to consider before raising the rent

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Buy-to-let mortgage interest relief is being phased out, with some landlords anticipating much higher tax bills and lower profits. Many have stated they will be increasing rents to make up the shortfall. Here Upad founder and CEO James Davis asks, is it worth it?  Research across the board suggests many landlords will raise rents to […]

The post BLOG: Five things to consider before raising the rent appeared first on RLA Campaigns and News Centre.

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Blown away with fantastic location of stunning investment properties

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We are delighted to bring Property118 investors this fabulous opportunity to purchase 1 & 2 bed apartments within the Southside development, in the lovely town of Ilkeston, just 10 miles east of Derby and 8 miles west of Nottingham.  This spacious development is conveniently situated in the heart of Ilkeston town centre

The post Blown away with fantastic location of stunning investment properties appeared first on Property118.

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Media Coverage this week: 7th-13th July 2018

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The RLA was mentioned across national, local and trade publications this week, on a range of stories including the release of the English Housing Survey publication to the new Housing Minister. Have a read of some of the press coverage from this week, below. Jeremy Hunt new Foreign Secretary after resignation of Boris Johnson The Telegraph […]

The post Media Coverage this week: 7th-13th July 2018 appeared first on RLA Campaigns and News Centre.

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TWENTY reasons to join the RLA

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This year the RLA turns 20, and we offer a lot for landlords and agents here at the RLA for our 30,000 + members! Here are 20 reasons to join the RLA Today! ASK  as many questions as you want to do with managing your lettings. Our Landlord Advice Team are here to answer your questions. Whether […]

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EPC D and CO2 emissions F ?

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I have encounter an problem on EPC and CO2 emission:

I received latest EPC on the property I am proposing to purchase today:
1. The EPC is D on the front page next to the color chart
2.

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Eviction of travellers: Writ of possession or common law?

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There are approximately between 200,000 and 300,000 travellers living in the United Kingdom with around 60,000 who live in caravans on both authorised and unauthorised sites. If you do have problems with travellers then there are two options available to you

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Three-year tenancy agreements

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The government intends to hold a consultation on tenancy agreement lengths, with the proposal setting out the shortest term being three years with a six-month break clause.

As it stands around 80% of tenancies in England and Wales are either six or twelve month assured short hold agreements

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