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Incorporation Relief to go in Autumn Statement?

Incorporation Relief to go in Autumn Statement?

21/11/2015

I was horrified to read a prediction on the highly credible Accounting Web that s162 tax relief used to mitigate CGT when incorporating a property letting businesses could be a victim of George Osborne’s Autumn statement next Wednesday (25th November).  If the Chancellor does make such an announcement those landlords currently looking to incorporate can but hope… Read more

2015 Finance Bill Receives Royal Assent

2015 Finance Bill Receives Royal Assent

18/11/2015

18th November 2015 may well be marked in history as the beginning of the end for most private buy-to-let landlords.  Restrictions on the amount of financing costs which can be deducted by individuals, partnerships, trusts and personal representatives when calculating their income from a property business are included in the Act (s 24). The amount of… Read more

Avoiding Restrictions on Finance Cost Relief for Landlords

Avoiding Restrictions on Finance Cost Relief for Landlords

11/11/2015

  GENERAL GUIDANCE  If you have been retaining profits after paying the higher rates of income tax then you have probably been paying more tax than necessary. IS TAX AVOIDANCE LEGAL? The law regarding tax avoidance was clarified nearly 80 years ago. In 1936 a landmark legal case was heard in the House of Lords… Read more

Local Authority Lets, No need to take a chance!

Local Authority Lets, No need to take a chance!

08/02/2015

Letting a property on a 3 of even 5 year contract to the local authority may seem like an attractive idea for some landlords. As well as helping to ease the chronic public sector housing shortage, the landlord benefits from a guaranteed rent paid into their account every month without fail for the period of… Read more

FOS rule West Brom Tracker Rate Hike is fair

FOS rule West Brom Tracker Rate Hike is fair

16/11/2014

The FOS (Financial Ombudsman Service) have done it again!  In the past the FOS have controversially agreed that rate hikes applied by Bank of Ireland, Skipton Building Society (Amber Homeloans) and also the Danske Bank (formerly National Irish Bank) were fair. Therefore, is it really that shocking that FOS would also rule in favour of West… Read more

Innovative New BTL Mortgage Product

Innovative New BTL Mortgage Product

15/09/2014

85% LTV, low rates and fees AND positive cashflow on new BTL purchases? Yes it’s true, and it’s available NOW! The eagerly awaited collaboration between a market leading BTL mortgage provider and the UK’s only provider of BTL equity finance has now been launched – AT LAST!!! The resultant product allows landlords to purchase properties… Read more

CASE STUDY – First time buyer, First time landlord

CASE STUDY – First time buyer, First time landlord

11/05/2014

I thought I would share a short case study of how I helped Max, a first time buyer, first time landlord, to get on the property ladder recently. Max is aged 21, and although he has managed to establish his own hairdressing business it’s still early years with his net profits currently below £15,000 pa. He… Read more

Skipton Building Society Legal Action

Skipton Building Society Legal Action

02/04/2014

In 2010 the Skipton Building Society broke a promise to over 60,000 mortgage account holders.  The basis of that promise was that their mortgage rate would never exceed 3% over the Bank of England base rate – it did – CONSIDERABLY! The hike in monthly payments for a person with a £150,000 interest only mortgage… Read more

Concerns re Skipton BS Commercial Mortgage

Concerns re Skipton BS Commercial Mortgage

27/03/2014

We have a small office building in the home counties which was purchased with the help of al loan from the Skipton BS eight and a half year’s ago.  Times have not been kind to the commercial property market since 2008 and we have not been immune to that although we have never been late… Read more

Mortgage Express UKAR LPA Receivership

Mortgage Express UKAR LPA Receivership

20/03/2014

It has come to our attention that Mortgage Express (now UKAR – UK Asset Resolution) have recently been appointing LPA receivers with no apparent justification. Previously we had heard of LPA receivers having been appointed where a borrower has died or where a landlord had fallen into arrears. In some cases the properties were sold for much… Read more

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