Browsing all articles from December, 2018
Dec
31

UNFIT – Fitness For Human Habitation Act 2018

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Lets get straight to the point, as there’s only 5 pages to this Act.

This was cleverly proposition by Karen Buck MP to put to Landlord Associations, in that how could ‘Professional’ landlords oppose a bill to stop rental properties that weren’t ‘

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Dec
28

Preperations for Making Tax Digital from April 2019 “are progressing well”

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House of Commons Library document update on Making Tax Digital (MTD) was published Christmas Eve: click here

It reported that despite concerns government preparations for introducing MTD for VAT in April 2019 “are progressing well.�

“In December 2015 HM Revenue &

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Dec
27

Noise until 6am?

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I have 3 flats in Bessacar near Doncaster and one of the adjoining flats has an autistic owner/tenant. He is in the centre of the 9 flats.

We have the councils noise team on the job and the police are called on a regular basis.

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Dec
24

Government announce new room size guidence

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Houses in Multiple Occupation and residential property licensing reform Guidance for Local Housing Authorities Click here

“3. 4 What is the minimum sleeping room size?

The minimum sleeping room floor area sizes (subject to the measurement restrictions detailed in the paragraphs below) to be imposed as conditions of Part 2 licences are:
• 6.51m square for one person over 10 years of age
• 10.22m square for two persons over 10 years

The minimum size for sleeping accommodation does not apply to charities providing night shelters or temporary accommodation for people suffering or recovering from drug or alcohol abuse or mental disorders.

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Dec
24

When can I enter my property?

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I have served notice to quit to my tenants. They have not paid rent for 3 months. They have until 1st Jan to leave and are accepting no correspondence from myself. I was advised from a neighbour that a white van left the driveway 3 days ago and their cars have not been seen since.

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Dec
22

Financing Tips on transferring rental properties into a company

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Whilst this article focuses on financing tips it also touches on the tax consequences of transferring privately owned rental property businesses into a company.

Novation – this is a process where mortgage contracts are re-written to make the borrower a company as opposed to an individual.

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Dec
21

Homes (Fitness for Human Habitation) Bill receives Royal Assent

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Karen Buck MP sponsored the Bill giving tenants the right to take legal action against Private and Social landlords if a property isn’t up to the standard of the Housing Health and Safety Rating System (HHSRS) for breach of contract.

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Dec
20

Bank Base Rate unanimously held at 0.75%

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The Bank of England Monetary Policy Committee unanimously voted at this months meeting to hold the Bank Base Rate at the current 0.75% level. If anything the pressure on the rate was negative rather than any risk of it increasing especially with softer oil prices.

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Dec
20

Tax Return ye2018 checking Finance costs?

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I’m very confused with Section 24 Tenant tax. Please can someone clarify the simple profit calculation for a Buy To Let for YE2018

Rents received £30,000

Repairs & renewals £10,000

Mortgage Interest £10,000

So to the Layman the Profit is therefore £10,000 meaning tax at 20% i.e.

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Dec
19

Teachers Building Society – New holiday let mortgage

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The Teachers Building Society has entered the Holiday Let mortgage market launching a new mortgage specially designed for properties in the holiday let sector.

Teachers is an old lender, but although until fairly recently they only focused on lending to teachers they have now opened up their proposition and not only will they lend to the wider public

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