Newsletter - June 2007 - Administration for Landlords
View the full Newsletter online at our newsletter archive - June 2007
This Month's Contents:
- CoverLet4LetProperty - Leading providers of Landlords' Insurance
- Welcome from the Editor
- Administration for Landlords - June 2007 Topic - what are the options?
- Software Review - Landlord Manager
- Empty Rates Campaign
- Henry Stewart Conference Studies
Welcome from the Editor
If you’re like me the paperwork and tax administration that goes with running your lettings business gets put off at the expense of more pressing matters.
With the best will in the world, when you’re a busy person, administration of your properties eats into your private time, so it tends to get neglected unless you are very disciplined.
But disciplined you must be, and it’s not going to get any easier with all the new rules and regulations our government delights in churning out these days.
So, information about what’s required is important and anything which makes this essential job easier is worth looking into for landlords..
In this issue of the LandlordZONE Newsletter we will explore some of the rules of property administration and what’s available right now to make your task easier and quicker.
Whether you have one property or two dozen, you can save valuable time and a lot of worry by developing a systematic approach to record keeping and admin.
Paper based systems can be adequate for one or two properties but it’s inevitable that we now think “computers” for any amount of accounting work.
Tom Entwistle, Editor
Latest Thinking on Occupying Commercial Property
A Henry Stewart Market Briefing - Advertisement
A briefing for property occupiers that don't own the building. Risk, reward, flexibility and cost - making your property solutions fit for purpose
The problem is this: to operate most efficiently you need property that suits your business - that requires cash, money put into a building that you may not own. And you need flexibility; you may want more or less space next year or the year after - you may want to move.
In a world where you can't have everything you want, discover at this briefing how to get the best you can to suit your business needs.
Property experts will present the latest thinking about what is possible and where it is possible AND WHA COMMERCIAL OCCUPIERS OF BUILDINGS SHOULD BE CONSIDERING AND DOING.
For all corporate property managers, public sector property managers, corporate property advisers, landlord and tenan specialists, surveyors, agents, lawyers, landlords and their consultants.
To provisionally reserve your place or for further enquiries please contact Vesna Siljanovska on 020 7404 3040 or email VesnaS@henrystewart.co.uk
Administration for Landlords
- June 2007 Newsletter Topic
An important aspect of being a landlord is the administration involved with your property and lettings.
Given the recent publicity surrounding the paying of income tax on buy-to-let by HMRC (formerly The Inland Revenue) it’s an issue which concerns all landlords and is worth looking into very carefully, particularly if you are a new landlord.
The Revenue have been quoted as saying that as many as 80,000 buy to let landlords may be underpaying tax.
Some accountants however are saying that many landlords are actually overpaying tax because of poor administration.
What are your options? How can you manage your properties better? Read more in the Newsletter...
Software Review - Landlord Manager 2008 by Visionbase Software Ltd
If you run
your property rentals business as a sideline to your full time
occupation, as many landlords do, then anything that saves you time
and trouble is going to be worth consideration.
A software
package such as
Landlord Manager
is designed
specifically to save you time, to remind you of important deadlines
and to help you prepare your self-assessment tax return.
Of course,
any piece of software involves a certain investment in time to
initially learn the package. Until you get familiar with the
software it will probably take more time than before, but after that
,with a reliable and efficient program, you will find your
administration task becomes much easier, quicker and more accurate.
Landlord
Manager is designed for the needs of small landlords as well as
large portfolio landlords and property managers.
Empty Rates Campaign
The government is to push ahead with plans to scrap rate relief on empty commercial buildings after its Empty Properties Rating Bill passed its second reading in the House of Commons last Thursday.
Property Week’s Empty Threat Campaign was highlighted by Conservative local government spokesman Michael Gove, who opposed the bill as ‘a straightforward exercise in raising revenue’.
Although the bill scrapping empty rates relief is likely to be passed in its current form, industry lobbyists are confident of winning concessions in the autumn and of having some measure of relief reinstated.
It is widely acknowledged within the property industry that the measure will have damaging consequences for small businesses, landlords, property developers and the environment.
To support Property Week’s campaign email your views for presentation to Gordon Brown to: emptythreat@propertyweek.com
Please note: This Newsletter provides general information only. Where specific help is required it is essential that you seek professional advice from a suitably qualified person.
