Jason Holden

Registered with Property118.com
Thursday 18th July 2013

Latest Comments

Total Number of Property118 Comments: 34

Jason Holden

11:37 AM, 18th April 2015, About 7 years ago

Can I claim expenses against tax?

If expenses are incur in relation to the rental business they are tax deductable as I am sure the property was available to rent.

Travel at 45 pence per mile for the first 10,000 miles from home to property is allowable.

As for food, be careful, you have to eat anyway!

Also, another thing for the buy to let land lord to know, HMRC no longer allow tax deduction for white goods, carpets or curtains in partly furnished or unfurnished property, so don't get caught out!

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Jason Holden

11:27 AM, 18th April 2015, About 7 years ago

Could I be hit with a big property tax bill???

I suspect the accountant in question has little to no experience in this area, the only restriction on mortgage interest is you can not remortgage to beyond the original value of the property at the date it is first rented out!

Change accountant, those of us with knowledge in this area really are worth using.

Good luck with everything.

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Jason Holden

12:43 PM, 7th February 2015, About 7 years ago

Does buying BTL through a limited company make more sense for me?

Actually Alan you are on the right track. Commercial property as a rule tends to be less volatile than residential but capital growth can also be less, but then again this all depends on where in the country you are and what the economy is doing.

So many people overlook commercial property in favour of residential but when your talking about someone who runs their own company this can often be a good approach.

Simple example is company makes payment into your 'SIPP' gets a tax deduction and then the 'SIPP' uses this money as a deposit, there are lending criterka, such as borrowing uptk 50% of the pension pot value.

This is not advice just something the Connor could consider before taking professional advice from his accountant/tax adviser.

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Jason Holden

15:29 PM, 1st February 2015, About 7 years ago

Capital Gains on flip and reinvestment

Firstly, to the original poster, you are referring to Business Asset Roller Relief, the clue is in the name, think business assets not residential.

Next, HMRC and their Inspectors do not give advice, they are not insured to do so, also, Inspectors are frequently wrong in their interpretation of tax law, this is evidenced by the number of failed cases brought by HMRC against individuals and businesses.

Finally, this is one of the best property based forums on the internet and Mark certainly has a wealth of knowledge and experience, but you can not beat taking professional advice, trust me, a decent accountant/tax expert is well worth the money.

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Jason Holden

15:29 PM, 27th November 2014, About 7 years ago