Which Landlords are classed as self-employed for Coronavirus help?

by Readers Question

9:29 AM, 27th March 2020
About 2 months ago

Which Landlords are classed as self-employed for Coronavirus help?

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Which Landlords are classed as self-employed for Coronavirus help?

Following Chancellor Rishi Sunak’s announcements about the self employed able to access a taxable grant worth 80% of their average profits over 3 years tax returns –

Properties are emptying as tenants/guests are leaving due to the COVID 19 outbreak.

What landlords can be classed as self employed? Some landlords perform a trade and pay certain NIC contributions.

What would be the criteria to be treated as self employed so our landlord members can be more informed and possibly apply?

Thank you

Kevin



Comments

Neil Patterson

10:37 AM, 27th March 2020
About 2 months ago

Hi Kevin,

I have just released the latest HMRC guidence and it will depend on your circumstance >> https://www.property118.com/latest-hmrc-guidance-on-covid-19-support-for-self-employed/

Demented Landlord

10:47 AM, 27th March 2020
About 2 months ago

As Sect 24 is taxing myself on my mortgage payments ,I will be taxed more than I earn. Will I qualify for anything of the government ......Answer NO !!!

paul kaye

11:06 AM, 27th March 2020
About 2 months ago

this government still treats landlords like criminals,taxes them to hell.
I hope it comes back to bite them,we offer a service and homes AT OUR RISK AND COST and never rewarded or appreciated.
We all are NOT landlords from hell WAKE UP

NEIL T

11:31 AM, 27th March 2020
About 2 months ago

The question was; Which Landlords are classed as self-employed for Coronavirus help?
Your politically biased comment was no answer to the question.
Let's get positive on this site and add comments that are truly helpful to our fellow Landlords.

Jaye

11:32 AM, 27th March 2020
About 2 months ago

No regards for landlords at all! Tax us for everything, pay us back nothing. Law is never on our side as if all we pay for is mortgages. Well, karma has a way of getting back. Jeremy Corbyn is such a joker.

paul kaye

11:41 AM, 27th March 2020
About 2 months ago

Reply to the comment left by neilt at 27/03/2020 - 11:31
oh sorry ! answer is ,no landlords are classed as self employed,unless run incorporated as a limited company.
that's why interest on mortgages is not deductible for most landlords.
But am sure you know this .

David

11:46 AM, 27th March 2020
About 2 months ago

I urge ALL landlords to contact their MP immediately.It is now very difficult to market rentals as a result of Covid-19.Many landlords rely on rental income to top up meagre salaries and pensions and all landlords will still have debts to pay to service and make safe these properties apart from mortgages to pay..Especially considering the increased tax take from landlords are we not due the same support as everyone else relying on an income.No doubt when this is all over we will be expected to pay yet more tax to cover these ex gratia payments from the government.

paul kaye

11:55 AM, 27th March 2020
About 2 months ago

I agree with David
One thing we all should do,is to ask the government to class BTL as a business
and allow all expenses to include mortgage interest/loans and related costs to be deductible.
The playing field needs to be level and not in the tenants advantage,as a lot of landlords are screwed daily. We invest like any other business and need to be treated in a fair manner.

Clint

13:06 PM, 27th March 2020
About 2 months ago

The NLA/RLA should be fighting for our "business" to be classed as a business

paul kaye

13:11 PM, 27th March 2020
About 2 months ago

Reply to the comment left by Clint at 27/03/2020 - 13:06
I agree, no one seems to have any clout or shout loud enough !
That's why I won't join up and pay them anything !

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