Dave Driver

Registered with Property118.com
Tuesday 14th February 2017

Latest Comments

Total Number of Property118 Comments: 3

Dave Driver

19:27 PM, 9th March 2017, About 4 years ago

Dave Driver

13:57 PM, 9th March 2017, About 4 years ago

Spring Budget 2017 - Landlords Reactions

Where do these figures of £225/£975/£1143 come from? They don't look right to me.

Surely if the allowance is reducing by £3000, then the amount of extra tax payable is £3000 x the tax rate. So:
Basic rate: £600 extra
Higher rate: £1200 extra
Additional rate: £1350 extra.

Or am I being as thick as a whale omelette.

£600 or £1200 extra tax payable is quite significant IMHO.... Read More

Dave Driver

12:22 PM, 14th February 2017, About 5 years ago

Sale and Rent Back our loved property?

Reply to the comment left by "michael fickling" at "14/02/2017 - 09:15":

This is very bad advice. Those "Local landlords" that you mention would be breaking the law if they entered into a SARB deal.

The only firms who can do this are the ones who are regulated under the full regulations (not the original interim regulation).

The number of firms regulated were in single figures. Those firms who were doing this had a monopoly and were able to push prices down to around 50-70% of market value.

To the best of my knowledge, the number of firms still doing this is now zero. SARB is effectively dead - killed by over-regulation.

I did some very fair SARB deals myself prior to regulation, but I would not consider doing one now, as it is possible that doing that could land me in jail.

If the original poster is still interested in doing this, the best plan would be to contact the FCA and obtain the (very short) list of regulated companies. Then contact each of those and find out whether or not they are still operating.

The regulations are very strict; even advising on SARB is a regulated activity. Here is a link to the FCA rules:
https://www.handbook.fca.org.uk/handbook/MCOB/4/11.html... Read More