In short yes! The amount is probably quite restricted though unless you have other income. I am talking here about individuals by the way. Companies have a whole different rule set. Generally pensions payments can only be made if you have “earned” income. That is loosely defined as income from employment, self employment or from a […]
Monthly Archives: November 2024
All landlords at some point get to the point where a family member or a friend asks if they can move in to one of their properties. Most landlords aren’t horrible evil people so many will say yes. A good number will also let the rent be lower than a commercial rent because they not […]
If you say landlord how does that work for you? Most people I find are completely fine with me being a landlord but there are some that give the impression you have just admitted to being a member of the nazi party. The recent debates on what a worker is don’t really seem to […]
I spoke with a chap yesterday who was trying desperately to move his property income around to save tax. He was one half of a husband and wife combo that had shares in their private trading company, a bunch of joint properties and one property owned just by him. The shares in the business […]
Well over 100 landlords heard me give my summary of the budget for landlords on Thursday. If you missed it you can watch it here. The overall theme is that the budget was not directly too bad for landlords but there are a lot of other moving parts to be aware of. I […]
It’s no secret that I am a fan of digital record keeping for landlords. Obviously nobody likes the idea of doing tax returns (unless you’re pretty unusual!) but it does have a lot of benefits. Regardless it’s worth noting that the recent budget has dropped the thresholds for people that will need to comply […]
Most people can get away with a single current account. Their wages drop in and they pay their bills, send some money off to savings and all is well. Why then should a landlord have a separate bank account for their rental receipts and expenses? Well there are a few pretty good reasons. The […]
Landlords love a good deal. They especially like getting deals before they come to market. One of the ways you might try to curry favour is through entertaining. Take agents out for a meal, solicitors to get the inside road on prorate properties. You might even take your tax advisor out to say thank you […]
Another from Ten Things… I get asked a LOT how long someone has to live in a house before it will be tax free. It will surprise you to hear there is no minimum length of time you have to live in a house. Really. That’s because time isn’t really what is considered. It’s the […]
As I said sophisticated investors will build the SDLT increase in to their figures but others will get a surprise. Those surprised people will either swallow it or fall for online scammers promising refunds. I ask a question on this in my Ten Tax Things presentation. “A house is riddled with asbestos and […]