19:02 PM, 19th June 2021, About 14 hours ago|
There are several ways to split rental income for tax planning purposes, the two most popular being a Declaration of Trust or one of many form of Partnership. The concept is to transfer rental profits to a lower rate tax-payer. For example, one spouse may pay tax at a higher rate than the other. This form of tax planning is particularly popular between spouses but can also be used for business continuity purposes. However, before rushing into this you need to carefully consi
13:04 PM, 18th June 2021, About 2 days ago|
Solutions for landlords with a Section 24 tax problem. First though, let's take a look at what Section 24 tax is and why it's so unfair. The following Case Study explains why so many property rental business owners are considering incorporation, by comparing the tax position of a private landlord vs that of a private hotelier. Let’s assume that both businesses own assets worth £2,000,000 and have 75% LTV mortgages secured on them at an interest rate of 5%. In other words,
11:41 AM, 18th June 2021, About 2 days ago|
I have held the lease on my first floor flat for the past 21 years, extending it in 2013. The Freeholder owns and lets out the ground floor flat. I have struggled with the Freeholders approach to managing my Lease. Standing charges include a peppercorn rent, £100 paid toward the Maintenance Fund and 50% of the building Insurance. The 'accounts' are a joke and I often have to correct them, the Management Fund is supposed to be kept in a separate account and any interest added. Int
16:30 PM, 16th June 2021, About 4 days ago|
16:20 PM, 16th June 2021, About 4 days ago|
The latest house price data published on GOV.UK by HM Land Registry for April 2021 show that average house prices in the UK increased by 8.9% in the year to April 2021, down from 9.9% in the year to March 2021....
15:54 PM, 16th June 2021, About 4 days ago|
An HMO licence application was submitted on 29th May 2020 on behalf of our landlord client and the 1st instalment of the licencing fee – £750 was paid. On 5th January 2021, the tenants surrendered their tenancy and returned keys....
10:45 AM, 15th June 2021, About 5 days ago|
A few days before the 1st June 2021 in preparation for S21 notice, I rang the NRLA regarding Form 6A and the new 4 months’ notice. I downloaded the form as per their advice from the govt web site. Filled it in ready with all relevant paperwork and I served the notice very early in the morning of 1 June...
10:39 AM, 15th June 2021, About 5 days ago|
My tenant friend and work colleague fell and died on his Landlord’s Stairs. This is the letter that I propose sending to the local council. “During the Christmas week of 2020, T fell down the exterior iron stairs at Flat 35b **********...