Today I had to undiscombobulate my accountants who were in utter confusion over Section 24. Not only had they applied it to my 2016-17 tax return but they had calculated it wrongly too. Fortunately I spotted this and was able to point out the error of their ways
The post Even accountants make mistakes – mine did! appeared first on Property118.
Hello, long time lurker here. I own the leasehold on an ex-Local Authority flat.
The flat above mine, which is also in private hands has, for the 4th time leaked water into my flat. My question is, although building insurance is included in the service charge it does not compensate for lost time &
The post Small Claims Court for time and earnings? appeared first on Property118.
The Homes (Fitness for Human Habitation and Liability for Housing Standards) Bill is a private members Bill sponsored by Westminster North Labour MP Karen Buck.
It presented to Parliament through the ballot procedure on 19 July 2017 as a first reading …
I’m 23 years old, just finished under-graduate university and currently unemployed. Starting a Masters degree in property in Sept 18.
I have no income and unlikely to be fully employed until July 2019; but have capital which I want to invest in property now.
The post Ltd Company or Personal Name for newbie buying for cash? appeared first on Property118.
I have some tenants who have failed to sign the renewed shorthold tenancy agreement that I have signed and issued to them. This involved a rent increase.
They were given 10 weeks’ notice of the contract renewal and agreed to meet me at the property to sign the new contract.
The post Tenants not signing contract – Where do I stand? appeared first on Property118.
Schedule 15 of the Finance Act 2003 is the piece of legislation which enables a partnership to transfer its properties to a company at the point of incorporation without paying SDLT. Link to HMRC guidance.
A Partnership is defined by the Partnership Act 1890 as “the relation which subsists between persons carrying on a business in common with a view of profit.”
The post Interaction between Ramsay, Partnership Act 1890, schedule 15 FA2003 and landlord incorporation appeared first on Property118.
I own an HMO in the London borough of Croydon where I have had no choice but install wireless, battery operated radio frequency interlinked fire alarms (specifically these are the AICO 10 year Lithium battery Ei600 series alarms, the only alarms on the market frequently accepted as an alternative to the mains wired systems).
The post HMOs and council approval of Wireless Fire Alarms – HELP! appeared first on Property118.
In June we began to rent out a room in a shared house (HMO) to a young single chap who seemed very personable and clean and tidy in appearance. He was not in a position to pay his months rent and deposit in advance so to help him out we agreed to accep…
This is an exciting new investment opportunity in Liverpool’s city centre. Interiors are finished to a high specification to complement the grandeur of the exterior.
Originally Union Bank’s head office, it is converted to 26 luxury apartments offering a 6% net rental return for 2 years.
The post Central Liverpool Buy to Let investment in converted period building appeared first on Property118.
A new report by the Adam Smith institute (the free market thinktank) sets out why the UK should abolish Stamp Duty Land Tax.
The post Scrap stamp duty to get Britain moving and generate £10bn of economic growth appeared first on Property118.
I rent a property to students through a local student Lettings company and have done so for many years. It is let to groups of friends under a joint tenancy, there are no individual bedroom locks and as such I believe that it is not a HMO.
The post Is …
The examples below are designed by HMRC to support their main Income Tax guidance for landlords.
They deal with a range of tax issues that you may need to think about if you rent out a property.
The post Income Tax when you rent out a property: case studies appeared first on Property118.
I have been looking at Property 118 for several months now and have found it a great help in the current climate. I have been wondering if your optimal tax planning strategies would be applicable to my wife and I.
The post What is a Partnership? appear…
My daughter is in her first year at university, but already she is being badgered about looking for a rental property for her second year which starts in September next year! Is this normal or is it sales pressure?
It’s a good question because in the most popular parts of the UK this is the time of year that students do in fact get reminded that they need to start looking for rental accommodation.
The post Too early to rent? appeared first on Property118.
I am helping Cotswold Barristers to promote their BICT structure to accountants and would really appreciate some help.
Many accountants advise their clients on the various forms of incorporation relief but are blissfully unaware of this structure.
In m…
info@gracecharlesinvestments.com
of Norwich City Football Club