Andrew Tokely

Registered with Property118.com
Sunday 30th August 2015


Latest Comments

Total Number of Property118 Comments: 8

Andrew Tokely

9:58 AM, 16th September 2016
About 3 years ago

Capital gains tax when selling from a portfolio mortgage?

As previously said CGT is based on what u paid for the property and what u sold it for. Mortgage does not come into it.... Read More

Andrew Tokely

9:49 AM, 13th May 2016
About 3 years ago

Time between exchange and completion?

Do not forget that they will need to pay the additional 3% stamp duty as they would now own 2 properties. This extra can be claimed back if they sell/dispose the first property within a specified period (18 months).

To me it sounds either a EDC or a potential for a Lease Option. You need to make sure the right paperwork is in place if in the worst case something happens to your grandparents and you end in discussions and dispusts with other potential heirs (their sons and daughters etc.). Sounds morbid I know but you just never know.... Read More

Andrew Tokely

13:29 PM, 5th May 2016
About 3 years ago

Do I have to disclose my Contractor Invoices?

I always receive a copy of any invoices for work done by contractors on my property. I think this is good transparency and ensures that the agent is not marking up the work that is done. Helps to build a relationship with the client.... Read More

Andrew Tokely

11:24 AM, 3rd May 2016
About 3 years ago

HMRC official landlord tax guide

Interesting use of the word "business expense" and "business asset" for what you can claim and CGT when the new taxation certainly isn't taxing landlords as a business.

I also like the "keep records for internet use". I know the theory but in practice for any home run business is difficult.... Read More

Andrew Tokely

20:59 PM, 30th March 2016
About 3 years ago

Bank of England Buy to Let affordability rules update

Reply to the comment left by "Graham Kogan" at "30/03/2016 - 20:18":

The document requests responses by 29th June 2016. Then I guess - how long is a piece of string. The mortgage lenders seem to be fighting it, as expected, from what I can pick up on various forums.

Who knows if it will take the form of the consultation, or be watered down, or beefed up. We need to wait and see. the document is here and actually pretty easy to read but the article abiove pretty much says it all ----> http://www.bankofengland.co.uk/pra/Documents/publications/cp/2016/cp1116.pdf... Read More