Christopher Marsden

Registered with Property118.com
Monday 20th January 2014

Trading Status
Joint

Providing essential rental accommodation since
2014

Number of rental properties owned
0 - 5

Insures properties through a broker recommended by Property118
Yes


Latest Comments

Total Number of Property118 Comments: 11

Christopher Marsden

16:03 PM, 10th December 2017
About 3 years ago

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

Thanks very much Neil and Mark for your helpful comments. We do have another buy to let , a flat in S E London . I think if we were going to keep it I would be thinking about a partnership but at the moment having spoken to a couple of brokers we would have to put £50k back into it ( having raised 90k two years ago to invest in the house referred to above )
But , assuming your approach is then to go to a Ltd Co. look what the chancellor has done to capital gains allowances for Ltd companies in the budget . Anyway we are going to sell the flat with a capital gain of £100k +
Any thoughts on best approach to mitigate tax on that. Looks like about £18k
We plan to invest that in our residence and then maybe sell up 5 to 10yrs and pocket that gain tax free . We did that in June this yr and realised over £300k gain tax free . I wonder how long tax free gains on your residence will last. I think in the States I read it's capped at 250k . How do I proceed with your offer for the deed of trust ?... Read More

Christopher Marsden

23:07 PM, 28th August 2017
About 3 years ago

I want to optimise my revenue allowances from new investment !

Thanks all for your helpful responses . I read the HMRC manuals that TB provided the link to and without doubt there is an element of judgement as to how costs are dealt with. I don't believe we substantially changed the house in that we did not extend it and both in the bathroom and kitchen we replaced end of life components with new . We spent circa £25k on the property as it was in a pretty bad state .Reading the manuals I got the impression that once my wife and I commenced investment in rental property ( this commenced with a flat in 2013 ) all costs subsequently associated with raising capital for increasing our portfolio ( albeit only 2 properties ) should be treated as a revenue cost.
When we bought the property we had a structural survey done which recommended repairs to some lintels over Windows and brick arches that were spreading so this work was completed ( and once identified would have been required by our lender anyway ).
Our objective is to legally account for as much of these costs as possible as revenue costs.
Any last advice .And thanks all for your comments and help.
I have been a member since we started in 2013 and also a NLA member but 118 has been our mentor through the last 3 years.... Read More

Christopher Marsden

11:06 AM, 29th January 2016
About 5 years ago

HMO or straight unfurnished let?

Wow , well first of all thank you again to Nathan and also to Harlequin Garden and London Property for all your help and information. I have been a Landlord for 2 years now and been an avid follower and member of 118 but this is the first time I have really engaged with it on a personal issue . I am starting to feel this is a real opportunity to pursue and that's in no small part down to you guys and this forum. Quality !
We will do this professionally and we have operated our current 2 bed flat along the lines that London Property described and this has gone well.... Read More

Christopher Marsden

19:57 PM, 28th January 2016
About 5 years ago

HMO or straight unfurnished let?

Reply to the comment left by "Mark Trenfield" at "28/01/2016 - 19:28":

Thank you Mark for your response.
We have a mortgage secured on a 2 yr. fix. The London market has been without doubt exceptional for capital growth and we have lived in this area for the last 5 yrs. I still think there is more to come from London albeit at a slower pace.
The HMO question is one of the options here and if we tried it and got comfortable with the running of it ( or managed to find someone to manage it ) we would extend the property thro loft conversion and make it a 5 bed investment property. We have just done something similar on our home. As you say the returns would then be outstanding and as my wife has lower earnings we would set up a declaration of trust putting 90% of the income into her name and therefore making it tax efficient..
The other option is we run it as a straight let for 2 years , sell our current home in the next 2 years , move in to the newly purchased property , pay off the mortgage , develop it out and sell it hopefully without paying CGT on most of the gain.
Maybe I am looking at too many options... Read More

Christopher Marsden

19:35 PM, 28th January 2016
About 5 years ago

HMO or straight unfurnished let?

Thank you Neil and Nathan for your very helpful response .
I am looking thro the Archives search on HMO's.
Mortgage company as usual requires an AST contract so presumably Nathan the three occupants are to be listed as 3 tenants of the house bound by the conditions of the AST . If any tenancy changes occur then presumably a new AST is required .
I will go and see the council.... Read More