Registered with Property118.comTuesday 10th January 2017
Reply to the comment left by "Mervin SX" at "20/06/2017 - 13:26":
I'm with Mervin. Myself and countless others own one or two properties. Constantly prodding the HMRC about this issue will probably result in them 'clarifying' the situation by just saying: 'Okay then, if you let a property... its a business. Pay up.' That would create extra income for them and be just another broadside to clobber the PRS. People won't go near it with a barge-pole soon.
A bad tenant register (or good tenant register) is a FANTASTIC idea. But; haven't you noticed a deluge of rules, regulations, restrictions and obstacles making life more difficult for private landlords? Not until the pendulum is allowed to swing back the other way will any such register be allowed to be introduced. You can get a bad credit rating if you miss the window-cleaner, but that's the world of finance. As a tenant you can cost your landlord thousands, commit criminal damage, deposit filth for him/her to dispose of at their cost then disappear after lying to the neighbourhood about fictitious problems with the property and no-one bats an eye. Who cares about slander when it's a private landlord on the receiving end? I have bitter experience of ALL of this and more. People have NO sympathy for private landords. Only other landlords do.
I asked the HMRC about this about a year ago. What they said was pretty much as detailed by Neil Patterson above. In fact he's made a pretty good job of outlining what I was told. My properties are fully managed by agents - I wouldn't know my tenants if I met them in the street. Therefore....thinking about it like that, property is for me an investment. Just like ISA's, shares, or Premium Bonds - and you wouldn't call people with these forms of investment self-employed. Mind you given the rate at which we're brutally and spitefully savaged by 'legislation' its maybe only a matter of time eh?
Reply to the comment left by "Jack Ass" at "13/01/2017 - 15:24":
Well, with your comments and my gut instinct I'm probably going to keep it. Thanks!
Reply to the comment left by "sally lloyd" at "11/01/2017 - 10:39":
I'm liking that compromise solution! I had no idea I would get this many responses.