tony

Registered with Property118.com
Saturday 9th November 2013

Trading Status
Sole Owner

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 33

tony

15:00 PM, 18th June 2020
About 4 weeks ago

CBILS for developer?

Hi All
I would like some advise regarding a hot water tank that the tenants have been leaving on 24/7 which I think has been costing too much in electricity,to heat the hot water in the property, the property only has electricity supply no gas.Now the hot water tank has developed a fault, which is it will not switch off at the max temperature and over heats, which is probably due to a broken thermostat, as the thermostat has been going on and off frequently due to the hot water tank being left on day and night. This is down to the tenants not turning the water off at all or using it more efficiently such as at night when the electric cost is cheaper,
Now it needs serious repairs or replacement, which I think should be al least partly paid for by the tenants due to there negligence and lack of consideration in saving electricity costs and to also save the environment, which they also have no regard for.Also the property is a small HMO 3beds, therefore I am the one thats been paying the bills.... Read More

tony

9:57 AM, 1st February 2020
About 5 months ago

If I am renting out a room do I need to pay tax?

Hi All the above is quite straight forward about tax payable or not for renting out a room in your own property,
I have another related question to this that I have not been able to find the answer to on the gov website.
Which is would the amount of tax I pay to HMRC be affected if I
1 receive income from self employment
2 receive income from HMO property
3 receive income from renting a room in my property even though the income is below the £7500 limit
In other words is the third income taxable over all to my income even though its below the taxable limit.
Any advice would be most appropriated.
Thanks Tony... Read More

tony

10:56 AM, 23rd December 2019
About 7 months ago

The 5 Golden Rules of Property Investing

Good advise simon, but you only mentioned 4 golden rules not 5.... Read More

tony

17:33 PM, 10th December 2017
About 3 years ago

What's the process for creating a deed of trust to transfer rental income to spouse?

I know full well what A Declaration of Trust is and I have already done a lot of research on the matter, my purpose of setting up the trust was for the purpose of placing the equity of the property into trust to protect in against any future creditors as I know what robbing vultures there are in this country,as well as the government. this would also protect my child's interest and inheritance in the future.
My question was how do I proceed with setting up the deed of trust ?... Read More

tony

16:57 PM, 9th December 2017
About 3 years ago

What's the process for creating a deed of trust to transfer rental income to spouse?

Hi I would like to do something similar to this, I need to transfer my rental property into a Life time Declaration of trust. Apparently I can transfer the equity and the part of the property that is paid off by the mortgage but no the portion that is still being paid down. Can someone confirm this and let me know if some one can assist me to set up the Declaration of trust and what the procedure is?... Read More