May
3

Are Council mandated improvements deductible from income or a capital expense?

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Following a change in regulations in January 2017, my Council have insisted that I upgrade a fire alarm in my HMO. It will cost £000’s, which is fine – especially if I can deduct it from income tax rather than capital gains! The alarm was formerly compliant and the expenditure is non-discretionary. “Spending to preclude… Read more

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May
3

Finance Bill drops 70 Budget clauses

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Budget 2017: It appears that up to 72 clauses in Finance Bill have been put on hold until after the election, and there’s speculation that some could be dropped permanently. And the Westminster rumour mill has it that after the election Phil is finished in May’s eyes following serval budget clangers. The FT reports that […]

LandlordZONE.

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May
2

Landlord Tax Planning Presentation in PDF Format

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Whether you are looking to grow you business or to downsize and pay down loans, this presentation will reveal opportunities to save tax.  By popular request we have reproduced the presentation given by myself and Mark Smith at the Baker Street Property Meet in PDF format. This means you don’t need any special programs to… Read more

The post Landlord Tax Planning Presentation in PDF Format appeared first on Property118.com.

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May
2

Lord Shipley: The Liberal Democrats and the PRS

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Regardless of what happens over the next eight weeks, or even the next five years, this General Election will be considered “the Brexit Election”.  Enough column inches to reach around the planet will be devoted to Brexit, and the role of the EU, at this election. One of the reasons why Brexit is so emotive […]

The post Lord Shipley: The Liberal Democrats and the PRS appeared first on RLA Campaigns and News Centre.

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May
2

Environmental Health – May I need to find alternative accommodation for my tenant?

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My relationship with a tenant seems to have broken down. They have called Environmental Health to inspect the property. I anticipate the buckling laminate floor in the lounge to be snagged. It had been previously agreed with the tenant (last week on apparently good terms) that this would be fixed in the Summer when it… Read more

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May
2

Section 21 and conflicting Government policies

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I have served a section 21 notice to tenants giving 3 months notice. Reason for doing is B2L mortgage term ending soon. The tenants have made an application to the LA (South Devon) showing them our letter of explanation which complies with s21 requirements. The Council have now advised them that their application has been… Read more

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May
1

Two thirds of mortgage lenders bar benefits claimants

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Two thirds of the largest buy-to-let mortgage lenders do not allow landlords to rent property to tenants receiving housing benefit. According to a survey carried out by the  RLA’s mortgage consultants, 66 per cent of lenders representing approximately 90 per cent of the buy-to-let market do not allow properties to be rented out to those […]

The post Two thirds of mortgage lenders bar benefits claimants appeared first on RLA Campaigns and News Centre.

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Apr
30

The best strategy if you’re planning to sell some properties to pay down debt

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Normally, if you sell your properties you will realise a capital gain, which is the difference between the purchase price and the sale price. This gain is then added to your income and if you’re a higher rate tax-payer you will pay CGT at a rate of 28% of the gain.  However …. Did you… Read more

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Apr
30

What is next on top of everything else for Landlords in Wales?

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I have watched with extreme interest, with many others I am sure, the developing catastrophe for some landlords due to section 24 Finance issues and then the Agents loss of tenant fees and then realised that on top of this in Wales we have Rent Smart Wales licensing (already enforced) and the new Renting Homes… Read more

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Apr
30

Back to Back Letting for personal use tax question?

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My conundrum is that we need to rent a new property so we plan to rent our existing personal property and then rent another property to live in. I am sure many people are in the same situation. however the question I have is around tax. Lets say I rent my flat for £2,000 a… Read more

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