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Saturday 25th April 2020

Latest Comments

Total Number of Property118 Comments: 5

11:30 AM, 6th January 2021, About 7 months ago

Landlord trap never ending

Whilst I appreciate that people's lives are more important than money. It is somewhat concerning that, the Government through its actions is enabling some tenants to stay in properties rent free.

I have one such tenant that last paid £1,000 towards her rent arrears in November 2019 , with the arrears before fees, now totalling some £13,000 and understand from from the letting agent that the tenant has been receiving income throughout.

Whilst I understand that in Wales they provided loans to tenants to assist with paying any rent arrears, and I believe that there was some support in Scotland , there has been no such assistance being provided in England.

Perhaps we should be taking proceedings against the UK Government aswell as the tenant?!

Here's to a speedy Covid safe 2021!... Read More

17:14 PM, 21st August 2020, About 11 months ago

A blanket eviction ban extension is unacceptable

The Government's announcement today makes concerning reading for myself and many other Landlords.
The last payment that we received from one tenant was in November 2019. When the notice was served the arrears were some £2,000 back in February this year, with the paperwork issued to the courts . The arrears now total some £9,400 and will continue to rise at £650 pcm.
I appreciate that we are living in exceptional times, but today's announcement is clearly wrong.
I hope that they swiftly announce that they are going to provide tenant loans, as I understand that they have in Wales.... as this is not the only property that we are having issues with and I am sure that I am not alone.... Read More

13:33 PM, 13th May 2020, About A year ago

Bounce Back Loans for property businesses - Part 2

I have watched this video concerning the bounce back loan and I am still unclear how most rental businesses could satisfy the requirement that, 50% of the income is derived from its trading activity.

The business is engaged in trading or commercial activity in the UK at the date of the application, was carrying on business on 1 March 2020 and has been adversely affected by coronavirus (COVID-19).

More than 50% of the income of the business (together with that of any member of any group of which it is a part) is derived from its trading activity. This confirmation is not required if the borrower is a charity or a further education college.... Read More

10:41 AM, 6th May 2020, About A year ago

Covid-19 Bounce Back loans for property businesses

I have not watched the video clip, but my understanding is the same as Phil Ashford's comments. That in order to claim the bounce back loan, which is calculated as 25% of turnover in 31.12.2019 , capped at £50,000 ,50% of the income needs to come from trading income.... Read More

10:06 AM, 30th April 2020, About A year ago

Tax payable on return of director's loan?

Whilst I am not aware of the dates or timelines involved, your ages, what the profits are in the subsequent period or the value of your pension pots or the value of the pension contributions you make each year.
However did you consider:
- paying loan interest to yourselves ?
-making a company contribution to a pension in particular a SSAS even if it is in the following company tax year. As that and perhaps voting a bonus, if you were able to generate a trading loss you maybe able to carry it back to the previous accounting period.... Read More