Following an email I received from a reader yesterday I feel compelled to write an article warning landlords of the tax implications of selling their assets due to there being no capital gains tax roll-over on BuyToLet properties. Continue reading BEWARE – there is no Capital Gains Tax Roll-Over on BuyToLet
Following my article regarding Landlord Tax Strategies, I’ve woken up this morning to a very full inbox. I will do my very best to respond to everybody but please bear with me. Continue reading Buy to let Exit Strategies – Readers Questions
It’s likely that if you own a leasehold buy to let property that you have been a victim of the great service charge scam.
Much publicity goes to fly-by-night letting agents whose businesses close leaving landlords and tenants out-of-pocket – but few dare to whisper the rip-off perpetrated by managing agents. Continue reading Revealed – the great leasehold service charge rip-off
Accounting for spending on letting property before the first tenant moves in often confuses landlords – and their accountants.
Countless landlords miss out on potential tax savings because their financial advisers wrongly claim pre-letting expenses are not allowed by HM Revenue & Customs. Continue reading Pay less tax by claiming pre-letting costs
Shocked Chancellor George Osborne has ordered a closer scrutiny of buy to let tax reliefs after finding out that some of Britain’s richest landlords pay little or no income tax.
The Chancellor was shown redacted copies of tax returns with all personal data removed, and naively realised that instead of paying around a third of their income in tax, many were handing the tax man just 10% or less. Continue reading Shocked Chancellor orders landlord tax scrutiny
Chancellor George Osborne is coming under more pressure from landlord and letting agent lobbies to ease buy to let tax in the forthcoming Budget.
The Association of Residential Letting Agents (ARLA) is urging the chancellor to scrap capital gains tax on investment properties and ripping up stamp duty rules to make the tax fairer for all. Continue reading Chancellor urged to boost tax relief for landlords
In the last month I have received letters from three of my mortgage lenders suggesting that I should make overpayments on my buy to let mortgages. Their logic is that my mortgage payments have reduced considerably due to interest rates having dropped substantially since I first took the mortgages. They are right! I’m paying less than half what I used to pay as these are base rate tracker mortgages and the base rate is now 0.5% where it used to be 5%.
That’s a 90% reduction in base rate, lovely!
Am I going to take their advice?
Am I heck as like!
If I make overpayments on those mortgages, what are my chances of ever being able to borrow at those rates again? Continue reading Making Overpayments on Your Mortgage
Landlords are starting to feel a squeeze on rental profits despite rising rents, according to a new study.
The number of buy to let landlords with large portfolios of 20 or more rental homes making a loss soared to 8%, says the research for the National Landlords Association.
The findings for the last three months of 2011 showed the biggest rise in portfolio landlords making a loss since records started in 2006. Only 1% reported a loss in the third quarter of the year. Continue reading Record Number of Landlords Making Rental Losses
Buy to let pundits fill acres of space online and in the media talking up property investment – but most of them have a vested interest in pushing products on landlords.
The main offenders are mortgage lenders forever talking up the market in surveys and house price reports – and including sly details of their buy to let mortgage deals at the same time. Continue reading Searching for the Truth About Buy to Let on Google
The great landlord receipt rip off is underway again as property investors scurry around to find expenses to off set against their rental profits.
The common scenario is probably being repeated in homes and up and down the country. Continue reading The Great Landlord Receipts Rip-off is Underway