LandlordZONE

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Apr, 2014

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  1. Thanks for the reply - I suspected that might be...

    Thanks for the reply - I suspected that might be the case. Technically it's different "businesses" for an individual rather than companies, but I follow and agree with your logic.

    I'm still...
  2. Offset of tax on property profits (development profits against rental profits)

    Hi everyone

    I currently own a number of BTLs on which I pay tax. Recently I've done some repairs and remortgages so I have some tax losses available.

    I am in the process of buying a property...
  3. I don't think that anything that I've written is...

    I don't think that anything that I've written is wide of the mark. Nowhere did I say that you don't pay tax.

    When I mention "collected through your tax code", what I mean is that they'll reduce...
  4. You only need to do a return if: •£10,000 or...

    You only need to do a return if:

    •£10,000 or more from property (before deducting allowable expenses) - i.e. gross rent
    •£2,500 or more from property (after deducting allowable expenses) i.e....
  5. To the OP You can have your cake and eat it -...

    To the OP

    You can have your cake and eat it - if you borrow against your house and use the money for a BTL then you can offset this against tax.

    It becomes tricky moving forward as you have to...
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    Interesting questions... Dealing with industrial...

    Interesting questions... Dealing with industrial property investment is my day job. It's buildings up to 1 million sq ft, so it's a bit different to offices, but same logic really.

    1) Market value...
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    Bump - 30 views but no comments :(

    Bump - 30 views but no comments :(
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    www.hmrc.gov.uk/agents/toolkits/property-rental.pd...

    www.hmrc.gov.uk/agents/toolkits/property-rental.pdf

    OP, this is vital reading - p14 answers the question.
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    Tenant find or Managed? Thoughts...

    Hi everyone

    I've only done tenant find before as I have found that to be okay and have been renting to "professional" tenants, due to the location and quality of the properties.

    However, I have...
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    With respect, it's not as clear cut as that. ...

    With respect, it's not as clear cut as that.

    http://www.hmrc.gov.uk/sa/need-tax-return.htm

    "If you are an employee or a pensioner and already pay tax through a PAYE code, you can sometimes ask...
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    King_Maker Thank you for your reply. Do you...

    King_Maker

    Thank you for your reply. Do you have any more information on this?

    Kind regards

    BB
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    Thanks Gordon £1,500-£2,000 profit, depending...

    Thanks Gordon

    £1,500-£2,000 profit, depending on success (accounting for 1 month void). So worst case annual saving of £300, but I'm on a long term purchasing process so this will get larger every...
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    Declarations of Trust

    Hello all

    I've got a query about the above.

    I am unmarried but live with my other half. She lives in my house, which I am the sole owner (albeit with a mortgage).

    I have a flat, which is...
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    Quite right - my mistake.

    Quite right - my mistake.
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    http://www.hmrc.gov.uk/cgt/intro/gifts-inherit-div...

    http://www.hmrc.gov.uk/cgt/intro/gifts-inherit-divorce.htm#1

    This states that when a husband transfers an asset to a wife, her base cost for future disposals is the price HE paid for it, not its...
  16. Isn't this saying that if you elect to take the...

    Isn't this saying that if you elect to take the 10pc allowance in place of the cost of renewals/ replacement cost, then all new furnished properties introduced into your business must automatically...
  17. This is effectively the "cost" of flexibility. ...

    This is effectively the "cost" of flexibility. i.e. how much more interest would you pay not to be fixed.

    If you fix for 5 yrs then you'll have early repayment charges of typically 5% in year one...
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    Cheers again. I'll see how the tenant and the...

    Cheers again.

    I'll see how the tenant and the lodger get on for the next month or so then see if I can get the necessary documents in place.
  19. Artful, wasn't the OP generally in the house with...

    Artful, wasn't the OP generally in the house with them for all of the time except for when they visited Poland?
  20. I've been considering similar options, but I...

    I've been considering similar options, but I would add into the mix the rate to which it reverts after the fixed period, especially with regard to the 2 yrs deals.

    If it jumps to 6% then you'll...
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    Not a problem - I'm very grateful for your help!...

    Not a problem - I'm very grateful for your help!

    The bit I don't get is that, surely if the tenancy ends at the 12mth date, can't I just issue a new tenancy then without the need for a surrender?...
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    Or if the AST expires on (say) midnight 30...

    Or if the AST expires on (say) midnight 30 September, can I not just issue a contract on the 30th, that commences on 1 October??
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    Thanks. So I get the remaining tenant to...

    Thanks.

    So I get the remaining tenant to serve notice on the day it turns periodic?
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    Hello again As an update, the remaning tenant...

    Hello again

    As an update, the remaning tenant has now found a lodger (a friend of his) who is moving in today.

    If it goes well I expect them to want a tenancy in their own names when the other...
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    Correct me if I'm wrong but the 120% ltv...

    Correct me if I'm wrong but the 120% ltv mortgages are for existing customers to be able to remortgage who are stuck in negative equity.

    They are not for new customers or those transferring from...
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