Gary Nock

Registered with Property118.com
Sunday 9th June 2013


Latest Comments

Total Number of Property118 Comments: 987

Gary Nock

10:22 AM, 9th April 2021
About A week ago

Periodic tenancy estate agents fees response?

Jeevsie it looks as if they have "stitched you up like a kipper" on their management terms and conditions. Never seen this before but it's done to keep their fee income flowing with the demise of tenant charges. Can't really see how you can get out of this. As a landlord you may not be covered by consumer law on unfair contracts dependent upon your level of exposure.... Read More

Gary Nock

6:33 AM, 4th February 2021
About 2 months ago

It's official - NO NEED to refinance when incorporating into a limited company

Mark you took the words right out of my mouth. It all depends on individual circumstances and a straight "yes or no" answer is either not possible without the consultation, or comes with so many caveats that it becomes of less value, and subject to change.... Read More

Gary Nock

9:36 AM, 3rd February 2021
About 2 months ago

It's official - NO NEED to refinance when incorporating into a limited company

I don't think the £400 is just for SDLT. It also provides advice on the company structure so as to be HMRC compliant and savings going forward. When you consider that Section 24 virtually doubled tax on landlords and the £400 fee is tax deductible, it needs to be viewed from that perspective.... Read More

Gary Nock

7:18 AM, 2nd February 2021
About 2 months ago

It's official - NO NEED to refinance when incorporating into a limited company

Reply to the comment left by Phil at 01/02/2021 - 23:03
Unless I read the manual wrong it appears not:

"Where liabilities are taken over by a company on the transfer of a business to the company, the Revenue are prepared for the purposes of the ‘rollover’ provision in TCGA 1992 s 162, not to treat such liabilities as consideration. If therefore the other conditions of s 162 are satisfied, no capital gain arises on the transfer. Relief under s 162 is not precluded by the fact that some or all of the liabilities of the business are not taken over by the company"... Read More

Gary Nock

7:13 AM, 2nd February 2021
About 2 months ago

Informing Local Authority of EICR?

The problem being that when you do send evidence of remedial works to the LA they ask why you have sent it when they haven't asked for a copy in the first place.... Read More