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 […]
Category Archives: Property
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 […]
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 […]
Continuing with my ten things all landlords need to know… “A new HMO is fully furnished. Is the cost allowable?” This one should be nice and easy yeah? Someone buys a big house, furnishes it and rents the rooms out. Surely tax relief is due on the furniture! Nope! Not initially at least. […]
I mentioned recently that I did an interactive webinar on Ten Things All Landlords Should Know About Tax. One question was ” You replace the kitchen in a new AST purchase BEFORE it is let. Is it a repair or capital?” Out of the people asked 59% got this wrong and said it […]
A lot of people manage their own properties. As a result they don’t have to pay an agent which means they have lower tax allowable deductions – and a higher tax bills! Now it’s completely up to you if you want to pay a managing agent and I am not suggesting that you should or […]
will be speaking to very few people here. I know that. But for those very few this is gold dust! If you have no expenses, or very low expenses, you can use the Property Allowance to lower your taxable profit to a lower figure than with normal full expensing. How does it work? Well, in […]
I took a call from someone that had been sent to be by a solicitor recently. They had been told the amount of stamp duty land tax (SDLT) thy were going to pay and were quite surprised. They were buying a house but wanted to retain their old one as a BTL. Their solicitor told […]
No There you go. Done. Why do we keep seeing this question come up time and time again then? Probably because it can still be a very tough game. Extremely tough! It has always been the case that BTL investing is something that should only be undertaken with extreme care. Proper modelling on cash flow […]