So you managed to get a sale to go through. You know you have to declare and pay the capital gains tax within 60 days of the sale so you start the process. Down the line you’re surprised to find out that even though you paid the tax within 60 days of the cash dropping […]
Monthly Archives: December 2024
You sit at the computer, logged in to Air B’n’B or similar, and block out a week in May, a couple of weeks in July, a couple in October and the Christmas period. Half a dozen weeks put aside for you and the family to go and stay in your holiday let. You pay all […]
Expenses while waiting to sell are much more complex than during voids. There are a few things you need to consider. First of all the rules on revenue vs capital are the same. Capital costs are always allowable against the final sale value so there are no changes here. If prior to sale you add […]
Even the best landlords will have voids and some will even plan them (student housing and those selling to names two!) but what are the rules while a house is empty. Well if the void is simply on a turnaround between tenants then all expenses are allowable in precisely the same way as if it […]
The Dunning-Kruger Effect is a cognitive bias where individuals with low ability or knowledge overestimate their competence, while highly skilled people may underestimate theirs. This occurs because those with limited expertise lack the insight to recognise their deficiencies, while experts are more aware of the complexity of their domain. You know this exists but probably […]
I had a great chat with a chap today who has used a couple of different advisors over the years and told me that the main problem he has now is that his current one is “dry”. Obviously you’re all surprised to learn that there are dry tax advisors out there but there are! A […]
Just a quick reminder that if you are selling a residential property that has a tax liability attached you need to declare the capital gain and pay the tax within 60 days of the date of disposal. Some tips: > As soon as the property is on the market, or certainly as soon as you […]
Tax is a strange one. It is often one of the things we worry about the most but yet we don’t do all we can to figure out what the actual number is. Having overseen the preparation of tens of thousands on tax returns over many year, and having personal prepared thousands one thing was […]
I was speaking at an event last night and updated the audience with my thoughts on the recent budget and some general updates that landlords need to know about. At the end of the talk I was approached by a lady who said she was still confused and asked me directly if she should buy […]
We all learn in different ways. Some like to read, some watch, some listen. In person presentations provide all three! I’m speaking tonight at North East Property Collective so however you learn you can absorb my budget update and general reminder of things you need to know. You can book your tickets here – BOOK
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