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Started by gnvqsos, 10-07-2020, 16:18 PM
11 responses
84 views
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Last Post halfax
by halfax
 
Started by Claymore, 08-07-2020, 15:48 PM
5 responses
119 views
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Last Post Gordon999  
Started by AndrewDod, 09-07-2020, 09:34 AM
6 responses
67 views
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Last Post Kape65
by Kape65
 
Started by alice123, 07-07-2020, 23:19 PM
7 responses
69 views
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Last Post JK0
by JK0
 
Started by Karen2020, 09-07-2020, 09:08 AM
7 responses
56 views
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Last Post Karen2020  
Started by Echoes, 02-07-2020, 14:14 PM
7 responses
93 views
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Last Post Always Problems  
Started by JamesHopeful, 05-07-2020, 15:43 PM
2 responses
31 views
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Last Post Always Problems  
Started by Jk2020, 07-07-2020, 09:42 AM
2 responses
73 views
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Last Post Gordon999  
Started by Andy123-4, 06-07-2020, 13:07 PM
1 response
80 views
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Last Post loanarranger  
Started by cadence248, 02-07-2020, 15:11 PM
4 responses
89 views
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Last Post jpkeates  
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  • An acceptable level of repairs
    by gnvqsos
    I recenly engaged a new accountant who questioned the extent to which I was claiming for repairs.She suggested I was claiming too high a proprtion of gross rents.I believe in repairing and redecorating whenever a property falls empty,as it makes the house easier to let,and makes tenants willing to...
    10-07-2020, 16:18 PM
  • Reply to An acceptable level of repairs
    by halfax
    its just a personel choice, but over the years it as removed the biggest hassle in my life, ( 2 days before christmas a boiler goes down, you try getting a plumber or more to the point the part need. on holiday in us it happens) just takes away the only problem i have had renting , and works out cheaper...
    12-07-2020, 13:47 PM
  • Reply to An acceptable level of repairs
    by Section20z
    Wow, I'm lost for words. Paying someone to remove a perfectly serviceable 5 year old boiler ? What about the environmental impact ?
    11-07-2020, 17:58 PM
  • Reply to An acceptable level of repairs
    by gnvqsos
    I am glad you share my philosophy,but I would not change boilers after just 7 years.Boilers seem more reliabe these days,and it seems criminal to scrap boilers so prematurely.I think frequent repairs keep tenants sweet,if not they will look elsewhere.
    11-07-2020, 16:54 PM
  • Reply to An acceptable level of repairs
    by halfax
    i always have a high a proprtion of repairs to gross rents. i indend to sell when i am ready to retire, and i want to keep them up to a good standard. it does not take long for a house to get tired.as an example, all my boilers are on 5 -7year cover, when it comes to the end of warranty i replace them....
    11-07-2020, 15:09 PM
  • Reply to An acceptable level of repairs
    by Gordon999
    You can charge all materials used for repairs and maintenance against the rental income but you cannot for your own labour.
    11-07-2020, 08:23 AM
  • Reply to An acceptable level of repairs
    by gnvqsos
    I disagree,as repairs and maintenance executed long-term prevent depreciation of assets,and are cheaper than a massive spend after 15-20 years,ensure the houses are lettable and rents can be adjusted ie increased.
    10-07-2020, 19:38 PM
  • SDLT < 500k
    by Claymore
    Any ideas if I were to transfer/sell a BTL <£500k into a LTD Company in the next couple of months, would the transaction be covered with the no SDLT payable (announced by the chancellor today)?
    08-07-2020, 15:48 PM
  • Reply to SDLT < 500k
    by Gordon999
    The Nil rate sdlt up to £500K until 31 March 2021 , does include companies .

    "Companies as well as individuals buying residential property worth less than £500,000 will also benefit from these changes, as will companies that buy residential property of any value where they meet...
    10-07-2020, 18:56 PM
  • Reply to An acceptable level of repairs
    by jpkeates
    HMRC (and your accountant) can't tell you how to run your business - if you spend a lot on repairs and maintenance, you won't make as much profit, but that's your prerogative.

    As long as the expenditure is solely and exclusively for the business and doesn't increase the capital value of...
    10-07-2020, 18:33 PM
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