Registered with Property118.com
Tuesday 22nd May 2018

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Sole Owner

Insures properties through a broker recommended by Property118

Latest Comments

Total Number of Property118 Comments: 8


9:49 AM, 12th February 2019
About 5 days ago

Stamp Duty receipts fall - Laffer Curve?

Reply to the comment left by Sean Graveney at 11/02/2019 - 11:06
My understanding is that tax policy on buy-to-let changed to try to avoid another housing bubble: Before the last crash I recall the then prime minister Gordon Brown being quoted as saying that he knew the economy was driven by the housing market; despite that he still pursued the kind of tax-and-spend policies that Denis Healey pursued, with the same disastrous consquences. Funny how some politicians don't seem to learn from history and it's odd that Gordon Brown was old enough to remember it...

I think the idea of the recent changes is that the changes to mortgage interest relief, which only effect you if you are a higher rate tax payer, were there to avoid penalising the occasional accidental landlord who was not minted. It's a blunt instrument because ideally you would want a policy that favoured good landlords, and other policies that brought housing onto the market such as for example making it tax efficient to rent out more than one room - you can only rent out one under the rent-a-room scheme.... Read More


9:37 AM, 12th February 2019
About 5 days ago

Should rental purchase include the freehold?

As it's an upstairs flat that they propose to keep I would ask for the whole freehold; you'll have enough difficulties anyway if there's a leak in the plumbing of the upstairs flat and you're trying to sort out who is responsible for what without a three-way discussion between you, the tenant and the freeholder.... Read More


11:25 AM, 8th February 2019
About A week ago

Landlords Alliance progress report

I accept that Shelter turns over tens of millions of pounds takes money from the taxpayer from the government and does not actually house anybody; is there a housing charity that houses the homeless that anyone thinks is worth supporting?

Whatever you do with the Landlords Alliance it will come over better if you are positive about something rather than just attacking things you don't like...even if those things are worth criticising. (Fair enough with Shelter...they don't house anybody).

As an example: Homeless people are less likely to be addicted to drugs or alcohol if they have a pet dog. One of the difficulties they face if they are offered accommodation is that the accommodation may not take the dog.

Anyone know a housing charity that lets the homeless keep their dog?... Read More


11:18 AM, 8th February 2019
About A week ago

Bank Rate held at 0.75% amid reduced growth forecast

Is it just me that thinks that the last paragraph of the MPC's report can be adequately paraphrased as "..we dunno.." :-)... Read More


10:27 AM, 6th February 2019
About 2 weeks ago

Question on tax when extracting money from a company

If you take the money out of the company as income then HMRC will get you one way or the other. The company can pay into pensions to reduce its corporation tax bill e.g. pay into a SSAS (small self administered scheme): remember that when you take the money out of pensions you'll still have to pay tax on it at your marginal rate but this has the effect of deferring the tax bill , it may make sense if the company doesn't need the cash to reinvest and at the moment there are some inheritance tax advantages if you are under the age of 75, plus investments in the pension are free of CGT, although you cannot hold residential property in the pension. The other consideration is that when you first draw down from the pension, under current tax policy, you can take the first 25% of the pension as a tax-free lump sum, which may also make a difference.

Remember that tax policy on pensions can change and left-wing governments have a tendency to attack them along with tax-efficient savings vehicles and CT.

The subliminal message in current tax policy is if you don't want to pay 40-50% tax then keep your personal expenses down 🙂 ....i.e. don't spend....I'm not sure whether that's good for the economy or not.. :-)... Read More