Seething Landlord

Registered with Property118.com
Thursday 1st August 2013


Latest Comments

Total Number of Property118 Comments: 414

Seething Landlord

22:08 PM, 19th October 2019
About 3 days ago

Advanced rent leads to higher net tax?

Reply to the comment left by Peter G at 19/10/2019 - 09:19
It is not naive because that is precisely what HMRC do i.e. income and expenses are dealt with in the same way, either apportioned between tax years (accruals basis) or accounted for as received or incurred on the day of the transaction (cash basis). The guidance you have quoted describes what happens if you are using the accruals basis. If using the cash basis you should claim the whole rent as an expense incurred on the day that you paid it. That is my understanding but please do not rely on it - if in doubt take professional advice.... Read More

Seething Landlord

0:32 AM, 18th October 2019
About 5 days ago

Advanced rent leads to higher net tax?

Reply to the comment left by Ron Bell at 17/10/2019 - 15:53
There is a box that you have to tick on the self-assessment form to say whether you have used the cash basis so I am certain that you cannot have any income or expenditure treated differently within the same tax year, it is all or nothing. When you switch from one basis to the other you have to make adjustments so that you end up paying the correct amount of tax overall This would normally be a one-off exercise although you would have to change back to the accruals basis if your rental income reached the prescribed level.
Having started to use the cash basis a couple of years ago I felt it necessary to refuse an offer of 6 months rent in advance for a tenancy starting in March this year as it would have meant it being taxed as received in total in the 2018 to 2019 tax year which would have been problematic.... Read More

Seething Landlord

12:44 PM, 9th October 2019
About 2 weeks ago

What if some of the obstacles to S21 claims are also applied to S8 claims?

To coin a phrase, the law is a ass.
However, the solution is to take extreme care to ensure total compliance in all dealings with tenants. We are already operating in a hostile environment and should not expect any change in our favour. It is not going to happen, at least until the whole rental sector starts to fall apart.... Read More

Seething Landlord

10:36 AM, 30th September 2019
About 3 weeks ago

Court order to release deposit when tenancy has been surrendered?

Reply to the comment left by Ian Narbeth at 30/09/2019 - 10:24
It looks to me that the claim has already gone beyond that stage, the tenant has refused the ADR process so all that remains is for the landlord to obtain a court order for release of the deposit. This can only happen after judgment in the landlord's favour. The nature of the enquiry suggests that the landlord does not have the knowledge to progress this on her own so I agree that she would be well advised to seek professional help. She will also need to think carefully whether it is better to accept the offer already made by the tenant or risk the claim failing in court for lack of evidence, inability to prove the extent of the loss etc.... Read More

Seething Landlord

17:15 PM, 17th September 2019
About a month ago

Trying to find a mechanism for the first two days rent?

"I have a well funded ME student arriving on the 27th September and wants occupancy ON the 30th. He receives his funding on the last day of each month which might be the 31st."
Presumably he will receive his funding on 30th September so should be able to pay the first month's rent on that day, the day that he wants to move in. I would not allow him in until the rent and deposit has been paid but for subsequent months entirely agree with others that there is no reason why you should not agree with him that payment on the first of the month will not be a problem. That is precisely what we have done with one tenant who is paid on the last day of the month but needed to move in on the 28th December. The tenancy agreement still says that rent is due on or before the 28th and that would be the date to use in calculating the required 2 months arrears if a S8 notice ever needed to be served. The only danger I can see is that if you had to rely on persistent late payment of rent as grounds for eviction you could not justifiably argue that payment a day or two late by agreement established those grounds.... Read More