T J

Registered with Property118.com
Friday 5th July 2013


Latest Comments

Total Number of Property118 Comments: 24

T J

10:02 AM, 15th September 2018
About 2 months ago

Freehold Company Set Up?

Hi,
If you want to go ahead, as a rough basic guide as to what is involved:
First choose a company name, then do a search on Companies House website to see if that name is available.
Then on Companies House website you can set up your company, giving the names and contact info. of all 4 Directors.
Issue 100x £1 ‘Ordinary’ shares and issue 25 shares for each member. You may have a stalemate situation though if it is all equal and you need to vote on something. You need a good, reliable Accountant to do the accounts and file the Annual Returns, he/she could be given 3 shares as the casting vote if needed and the four of you have 24 shares each. There needs to be a written legal agreement for this signed by you all, plus the Memorandum and Articles of Association (standard ones can be found online).
One of you needs to be voted the Chairperson.
One of you needs to be voted the Company Secretary.
There needs to be at least one annual meeting and minutes taken then circulated to all the shareholders.
An Accountant can set it all up for you for a charge of approx. £500 (probably more expensive in London or other cities).
An Accountant will also discuss with you how you want to set up your company, what you want to achieve, what to do if one of you resigns or sells their flat etc., there is a lot to consider. The above is only a basic guide so you can see if you want to go that route. I hope it helps.
Telea... Read More

T J

7:49 AM, 3rd December 2017
About 12 months ago

Exception to the s24 Tenant Tax loophole?

Surely if a Residential Property is changed to a buy-to-let, then the owner would want to start claiming the mortgage interest as a business expense from the time it is let and this would then be subject to the new tax laws as soon as the mortgage interest is claimed. It may then follow that if a Property is bought for the purpose of holiday letting then it is changed to a buy-to-let, the mortgage interest would be claimed from the start as a business expense and when it changes to an AST rental, the tax situation would change with it? Telea... Read More

T J

7:52 AM, 30th September 2017
About A year ago

How to do right by tenants when selling?

I have sold properties with tenants in. You market it with an Agent as an investment property. It is a golden opportunity for someone to start their own property portfolio.... Read More

T J

6:55 AM, 28th May 2016
About 3 years ago

Property118 Landlords Association - should we?

Will you be providing all the forms like ASTs, Section 21 etc. as part of the membership like the NLA? I don't see any point paying for both if you can provide the same service. Also bring fees in line with NLA £75 per year on a direct debit. Telea... Read More

T J

19:12 PM, 5th January 2016
About 3 years ago

FREE Guide To Enforcing Judgements

I think the form finally submitted, though I didn't get my report. Can you please email it to me? teleajuna@yahoo.com
Thank you.... Read More