user_14547

Registered with Property118.com
Monday 24th July 2017


Latest Comments

Total Number of Property118 Comments: 78

silversurfer2017

9:51 AM, 10th January 2019
About A week ago

Terrible time with council tenant and shock at how law treats landlords

I remember the old TV detective series Shoestring and his mantra. His ABC of his approach to detective work.
Assume nothing
Believe no-one
Confirm everything
A little extreme but I do adopt a similar approach on commercial transactions.... Read More

silversurfer2017

10:30 AM, 3rd January 2019
About 2 weeks ago

SDLT and CGT potential faux pas?

Reply to the comment left by Sarah Jayne Pajger at 03/01/2019 - 09:10
I am not an expert but think the following is correct:
You could sell your existing private residence within 3 years of completing the purchase of your new property. You would then nominate you new property as your main residential property and you should be able to claim back the extra 3% SDLT. You may wish to reconsider how long you want to rent out your previous home before you sell it, bearing in mind that the net rental income will be subject to income tax but the 3% SDLT refund will be tax free!... Read More

silversurfer2017

14:08 PM, 21st December 2018
About 4 weeks ago

Tax Return ye2018 checking Finance costs?

Having already had my self assessment calculation I can tell you exactly how the tax inspector accounts for the disallowed interest. He adds the disallowed interest (25%) on to your gross income so that in Stevie's case he adds £2,500 on to his gross income. He still allows the £10,000 interest as an expense (which it is of course, but only at 20% tax relief). The next tax year he will add 50% of the interest, being £5,000 to his gross income and still allow the £10,000 interest as a business expense, again at only 20% relief. The net result of course is as follows:
For a taxpayer well within the 20% tax band there will be no difference in the amount of tax to pay.
For a tax payer right on the threshold between the 20% and 40% bands and for those tax payers well into the 40% band they will end up paying 40% tax on this disallowed interest but only getting 20% back in tax relief.... Read More

silversurfer2017

16:45 PM, 23rd November 2018
About 2 months ago

Fake agents scamming landlords and tenants

Reply to the comment left by sandy at 23/11/2018 - 15:46Hi Sandy. if it were me in this situation I would come to a private agreement with all 3 tenants. I would want to get my property back as soon as possible. The pragmatic approach is to ask them all to leave say in one month's time and give them back all the rent they have paid and their deposits and get your property back as quickly as possible. Also refund their £150 referencing fees. You 3 new tenants would not have lost out financially and would have all had rent free accommodation for the time they had stayed with you as some compensation. It is important that all 3 of your tenants agree to this at the same time. We can all make mistakes, which we do usually learn from. The only consolation for you in this case is that the refunded rents and refunded deposits might be allowed as a business expense?... Read More

silversurfer2017

15:13 PM, 23rd November 2018
About 2 months ago

Fake agents scamming landlords and tenants

IMHO it sound very much like 'if it sounds too good to be true it probably is', especially from an unsolicited phone call. Did you check that the letting agent was a member of ARLA? Did you see the references for the IT company and was it their first company let? How could you be certain that the company had sufficient funds to pay your rent? Did you check with previous landlords?... Read More