Daniel 54

Registered with Property118.com
Wednesday 6th January 2016


Latest Comments

Total Number of Property118 Comments: 6

Daniel 54

12:29 PM, 2nd November 2016
About 3 years ago

Jack will sell up due to tax changes wrecking his plans

With those numbers it is pretty much a no brainer to make a pension contribution at 60% tax relief.At a net cost of £8k,Jack ends up with £12k in his pension,£4k to be reclaimed back through self assessment and £4k tax saved through not having the personal allowance withdrawn.Tax chargeable on the rental property would be £4k,but he has recouped this through the pension tax relief .... Read More

Daniel 54

20:38 PM, 12th May 2016
About 3 years ago

Declaring purchase price when buying house from in-laws?

Reply to the comment left by "Tony Atkins" at "12/05/2016 - 12:39":

HMRC have access to the General Anti Abuse Rule ( GAAR).Amongst other things,this enables them to treat as void linked transactions if they view that the sole or primary purpose of the transactions is to avoid tax.

https://www.gov.uk/government/publications/tax-avoidance-general-anti-abuse-rules

As such,these transactions would be viewed as tax evasion,with the corresponding penalties.Not a route to be going down.... Read More

Daniel 54

15:03 PM, 13th January 2016
About 3 years ago

Maybe I shouldn't give up so easily?

Bear in mind you would likely be regarded by HMRC as running a property development buisness,in which case profits are taxed as income... Read More

Daniel 54

18:18 PM, 11th January 2016
About 3 years ago

Landlord entering without notice and retrospect complaint?

Reply to the comment left by "Joe Bloggs" at "11/01/2016 - 17:22":

Maybe I expressed myself clumsily

The right of access to which you refer is,as per your last post,restricted to the lessors repairing covenant,either to effect repairs or to inspect to establish if repairs are necessary

No disagreement on this point and one would normally expect mutual agreement for suitable times to carry out such repairs or inspection

If the landlord does not give notice and/or enters for reasons other than the above,he is acting outside the provisions of the act

I was suggesting that if the tenant refused permission to enter then the landlord should not rely without qualification ( which you have subsequently provided) on your statement " landlords dont need tenants permission. all that is required is 24 hours notice"... Read More

Daniel 54

16:59 PM, 11th January 2016
About 3 years ago

Landlord entering without notice and retrospect complaint?

Reply to the comment left by "Joe Bloggs" at "11/01/2016 - 14:39":

Section 11.(6) applies only for the purpose of inspection and repair

Furthermore there is a view that the tenant can withold agreement even if 24 hours notice is given ( common law right of quiet enjoyment)- safety reasons may override this

I cannot see that 1985 act gives a landlord automatic right of access with 24 hours notice.

Happy to be corrected,preferably with chapter and verse... Read More