Michelle O'Connor
Michelle O'Connor
Registered with Property118.com
10th July 2015
Total Posts
0
Total Comments
11
Registered with Property118.com
10th July 2015
Total Posts
0
Total Comments
11
15th July 2015, 11 years ago
Hi June. If anything, providing the person being added to the deed and mortgage hasn't an adverse credit history, I would have thought the lender would be fine with this. For them, it spreads the risk over two people. If...
Read More →14th July 2015, 11 years ago
Income tax. Tax due on income. Income. Basic fundamentals of our tax system. You cannot pay tax on anything other than income. Forget the idea HMRC will be taxing individuals on an expense, i.e mortgage interest. That simply isn't happening....
Read More →Reply to comment left by Gary Mason at 14/07/2015 - 17:41
Reply to the comment left by "Gary Mason" at "14/07/2015 - 17:41": Gary. I don't believe anyone on this forum states their profession to 'brag'. Trust me, being an Accountant is nothing to brag about. A few people have indicated...
Read More →Reply to comment left by Gary Mason at 14/07/2015 - 17:26
Reply to the comment left by "Gary Mason" at "14/07/2015 - 17:26": Gary. There is no remaining £10000. That is an expense not income. I'm also an accountant, albeit a tired exasperated one!
Read More →Reply to comment left by Gary Mason at 14/07/2015 - 17:15
Reply to the comment left by "Gary Mason" at "14/07/2015 - 17:15": Gary. The clue is in the title, income tax! why would you imagine a direct cost is added to your rental income and tax is paid on the...
Read More →Reply to comment left by Asif Ahmed at 11/07/2015 - 17:12
Reply to the comment left by "Asif Ahmed" at "11/07/2015 - 17:12": Good point. Everyone's situation and business approach will be different, tailored to their individual needs. In my experience, unless you are offering an above average product, the rent...
Read More →11th July 2015, 11 years ago
I suspect it's true with regard married couples assuming the 50/50 rule of thumb would apply. Ive looked at it from my perspective as the sole owner of the properties. Apparently I can be the legal owner at land registry...
Read More →Reply to comment left by Jack D at 11/07/2015 - 11:01
Reply to the comment left by "Jack D" at "11/07/2015 - 11:01": Jack, that seems to be the case now. This will encourage landlords to explore other avenues such as Deeds of Trust being introduced to utilise the tax allowances...
Read More →Reply to comment left by James Leavesden at 11/07/2015 - 11:05
Reply to the comment left by "James Leavesden" at "11/07/2015 - 11:05": Thank you. That's exactly what was needed. Shouldn't be any confusion now, just lots of number crunching!
Read More →Reply to comment left by Claire Oswald at 11/07/2015 - 10:36
Reply to the comment left by "Claire Oswald" at "11/07/2015 - 10:36": This is where I apologise for being stupid. I do have kids so put my lack of little grey cells down to the sleepless nights over the years!...
Read More →11th July 2015, 11 years ago
I'm just joining this thread and, from reading the posts, I'm not convinced there is enough information anywhere for me to calculate the impact of the new measures. I understand the basics but my problem is how is it determined...
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