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Started by HP mum, 09-06-2017, 15:15 PM
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Last Post Gordon999  
Started by TheLips, 25-05-2017, 12:04 PM
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by TheLips
 
Started by tunstallhill, 07-06-2017, 12:49 PM
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Started by EverythingsPeachy, 02-06-2017, 14:45 PM
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by MdeB
 
Started by Ruswh, 27-05-2017, 21:53 PM
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Started by APorter910, 01-06-2017, 13:53 PM
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Started by Do224, 28-05-2017, 09:49 AM
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Started by DPT57, 19-05-2017, 09:38 AM
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  • Reply to Switching mortgage to BTL and tax implications
    by Gordon999
    D999,

    The taxman's method of calculating :

    Capital gain is the Sale Price ( say £200K ) minus Purchase Price ( say £130K ) = £70K capital gain.

    But buying and selling expenses are allowable and include the conveyancing cost : say £1K plus estate agent'...
    12-04-2021, 14:17 PM
  • Switching mortgage to BTL and tax implications
    by dotcotton999
    Evening all,

    I am currently looking to move house and also have a rental property that has around £200k equity in it.

    The rental house had consent to let and on a repayment mortgage and has 3 years to go until I can switch deals.

    I have spoken to a mortgage broker...
    08-04-2021, 19:52 PM
  • Reply to CGT and tax returns
    by Lots on
    Thank you for your kind words JP and the tips re using an accountant. Having been taxed at source all my working life this is very useful information. I will look round for an accountant. A friend of mine who is also a landlord as well as having a day job has one, so maybe a personal recommendation...
    12-04-2021, 10:04 AM
  • CGT and tax returns
    by Lots on
    Hello all, just need some advice re CGT. I have a house which I refurbished entirely, mostly in this financial year and I could start my tax returns on the 6th of April 2021. I spent nearly £30000. New kitchen and bathroom, re doing the garden, new flooring throughout ,total electrical re wire, re...
    02-04-2021, 09:46 AM
  • Reply to CGT and tax returns
    by jpkeates
    Thank you for your work in the NHS!

    I've found that the first sessions were the most valuable in terms of what could be saved, and the value has diminished slightly and the costs of the returns being done has stayed the same/slightly increased, so it feels like it's less worth it.
    ...
    12-04-2021, 08:28 AM
  • spreadsheet
    by jase222
    I been looking at spreadsheets to list my expenses and every template I find seems to allocate expenses per house ie 5 houses = 5 separate sheets whereas I just put everything down on one sheet.
    I would like to know if I have been doing it wrong all these years.
    ​​​​​​Any help...
    11-04-2021, 13:53 PM
  • Reply to spreadsheet
    by jpkeates
    I use one page of a spreadsheet for all the income and expenses and have other pages which automatically summarise the data property by property.
    12-04-2021, 08:24 AM
  • Reply to Switching mortgage to BTL and tax implications
    by jpkeates
    When you sell the property, you can't retain any of the equity, so that doesn't really make any sense to me.
    On disposal, the mortgage will end and have to be repaid.

    The value of the rental property when first let is also a limit to the amount of the loan against which interest can...
    12-04-2021, 08:22 AM
  • Reply to Switching mortgage to BTL and tax implications
    by dotcotton999
    Gordon999 thanks for your reply. In regards to CGT so if I was due to sell a house I could request to remove all the equity before the sale and wouldn’t be subject to CGT... that doesn’t seem right.

    In regards to switching my mortgage from repayment to and interest only... would I incur...
    11-04-2021, 19:31 PM
  • Reply to spreadsheet
    by Gordon999
    Its good to keep a separate sheet for each property because when you come to sell one house , you may want to show the rental and expenses records for one house to prospective buyers.
    11-04-2021, 19:08 PM
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