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Monday 30th November 2020

Latest Comments

Total Number of Property118 Comments: 6


11:46 AM, 3rd June 2021, About 2 months ago

Accidental landlord - Can I do the annual accounting myself?

This might help the OP (and others). It is an hour-long webinar by HMRC about individuals with income from UK residential property and covers:
• how to tell HMRC about your income
• allowable deductions and expenses
• new topics including cash basis, mileage rates and finance costs Read More


0:46 AM, 2nd June 2021, About 2 months ago

Accidental landlord - Can I do the annual accounting myself?

With the greatest respect, the mere fact that you are asking tax-related questions indicates to me that you are not competent enough to prepare your own accounts and tax returns. There is more to know than just plonking debits and credits into a P&L account.

And I'll offer you some advice here: keep your self-employment & rental income accounting separate.

Since you now have two properties, have you considered electing for Principal Private Residence (S222 TCGA92)? Please note that there is a time limit for nominating.

I'm telling you all this as a qualified accountant. Using a qualified accountant (not all accountants are qualified and carry Professional Indemnity Insurance) will give you peace of mind and HMRC, in the main, tend to steer clear since most of us can be trusted to adhere to the tax laws.... Read More


0:12 AM, 2nd June 2021, About 2 months ago

Am I being unfair turning down compensation request?

My boiler died at the same time as I was about to get a new EPC. The inspector (?) told me that the new boiler would improve my EPC rating.

Worth checking?... Read More


11:09 AM, 7th May 2021, About 3 months ago

Utilities liability - no contract?

When my last tenant moved out, my Letting Agent (LA) notified British Gas and gave them her (LA) address for billing. My property has been empty for 14 months and only recently have I been able to persuade anyone to go in to inspect and also do some decorating. There were 4 envelopes from BG with bills enclosed and only covering the past month or so.
I have now spoken (at great length) with BG as those bills were addressed to The Occupier and should have been sent to the Letting Agent. I accept that Standing Charges are still my responsibility but I am damned if I am going to pay for Late Fees and Debt Visits which occurred due to their admin error in not updating the account.
And now they want to install a Pay As You Go meter next week but they have jumped the gun (internally) and their website does not even show that I owe them any money let alone allowing me to pay them.
I have spent over 2 hours today on the telephone TO SOUTH AFRICA. So far I have spoken to FIVE people and been given the complete run around. I do not want a PAYG meter and the letter they sent says I have until 10th May to let them know that. They are just ignoring me.
I also need a new boiler. Ironically, on their website there is a link to get a quote; it does not work. How unsurprising. I certainly will not buy from BG, they are too unreliable if they cannot even deal with a simple phone call.
I am so angry right now.... Read More


3:14 AM, 27th April 2021, About 3 months ago

My battle with Rosinca formerly Mortgage Express?

Haven't got a clue what he's on about.... Read More