Bruce Hogarth-Jones

Registered with Property118.com
Monday 6th October 2014


Latest Comments

Total Number of Property118 Comments: 4

Bruce Hogarth-Jones

17:48 PM, 3rd November 2014, About 7 years ago

Foreign Rental Property - Should I declare them to HMRC ?

Yes, if you are UK-resident you need to declare net income from lettings abroad in UK, even if you have already been taxed on them in the foreign country. You will usually be able to claim relief under the relevant tax treaty, though, so that you are not double-taxed. Beware that Australia has a federal system, so it may make a difference which state the properties are in (are they both in the same city?)... Read More

Bruce Hogarth-Jones

10:36 AM, 3rd November 2014, About 7 years ago

Can I operate tenants bank account for them with permission?

Reply to the comment left by "All BankersAreBarstewards Smith" at "03/11/2014 - 10:27":

You are right, it is a palaver. And Mark was half right in saying they are for use when the donor lacks mental capacity, but there is a difference between the two types. The medical decisions one (LPA (Health and Welfare) can only be used if the donor has no mental capacity. The legal/financial one (LPA (Property and Financial Affairs) can be used if the donor is perfectly compos mentis, but it still has to be registered.... Read More

Bruce Hogarth-Jones

10:28 AM, 3rd November 2014, About 7 years ago

Can I operate tenants bank account for them with permission?

Actually, I do understand the difference, as I am in practice as a solicitor and put both 1970 Act powers of attorney and LPAs in place for my clients. The difference is that an LPA has to be registered and, if the donor wants to revoke it, they have to notify not only the attorney (as is the case with a 1970 Act power) but also the Office of the Public Guardian. Until the OPG has acknowledged the revocation it is not effective. The OPG is notoriously slow........... Read More

Bruce Hogarth-Jones

9:08 AM, 3rd November 2014, About 7 years ago

Can I operate tenants bank account for them with permission?

Why not get a lasting power of attorney from the tenant limited to operating the account in question? That way, the bank will acknowledge you have to right to access information, direct statements to your own address, transfer to your own account, set up S/Os etc but the name on the account is still the tenant's. Clearly the tenant needs to trust you if all their other benefit payments have to go into the same account but that's their risk, not yours.... Read More