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Started by Tassotti, 28-12-2006, 07:44 AM
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Started by shafty_bobs, 20-12-2006, 21:24 PM
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by Massive
 
Started by stephenp, 22-12-2006, 12:24 PM
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Started by lochaber_lass, 21-12-2006, 10:07 AM
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by Sandi
 
Started by mk85, 18-12-2006, 14:59 PM
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Started by newlandlord1, 20-12-2006, 16:20 PM
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Started by mitchelwood, 19-12-2006, 22:44 PM
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Started by stephenp, 08-12-2006, 15:40 PM
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  • Expenses off-set against income tax
    by xenoid
    Hi All, I have a question that might have been asked but could find it here.. I am an overseas landlord with only one buy-to let property in the UK. My monthly expenses are more than the rental income so on an annual basis I make a loss. I understand that these expenses can be claimed against tax and...
    27-07-2021, 12:54 PM
  • Reply to Expenses off-set against income tax
    by OneSmallStep
    Does this £873.12 include the Capital repayment element of your mortgage or is it just the interest?
    Are you aware you can't claim tax relief on the Capital element. If it does include the capital repayment, then you aren't losing this money but paying equity into your property.

    ...
    30-07-2021, 07:33 AM
  • Good Accountant recommendations
    by Rav
    Look for a good accountant that can help me save tax. Set up a limited company recently and need good advice on the best way to save as much tax as legally possible....
    29-07-2021, 15:53 PM
  • Reply to Good Accountant recommendations
    by Neelix
    Ask local friends for recommendations - face to face meetings are best
    29-07-2021, 20:55 PM
  • Reply to Expenses off-set against income tax
    by jpkeates
    It depends on your time scale - there's nothing fundamentally wrong with using rent income to create equity.
    It's just a longer term plan.

    If you sell you'll probably have the same early term penalty as changing product....
    29-07-2021, 17:57 PM
  • Reply to Expenses off-set against income tax
    by xenoid
    aha.. that sounds like a plan. problem is I recently signed a re-mortgage for capital and interest. will see if they willing to change to interest only. alternatively sell the property. I was previously on an interest only at a worse rate and wanted to re-mortgage to a capital mortgage to pay loan of...
    29-07-2021, 17:36 PM
  • Reply to Good Accountant recommendations
    by Gordon999
    You really need to visit a few accountant shops offering accounting, bookkeeping and VAT services, annual returns to Companies House located in your town or city suburbs and get their menu of services and fees....
    29-07-2021, 17:34 PM
  • Reply to SPV and Leases
    by Gordon999
    1. The property development company has purchased one house ( held under freehold title ?) and converted the property into 3 flats.

    2. The 3 flats are now rented out by the property company which still holds the property under one freehold title. The problem in this situation is any borrowing...
    29-07-2021, 17:10 PM
  • SPV and Leases
    by Thurrock1
    My husband is one of three directors of a limited property development company that has converted a house to 3 flats. The flats are currently rented. Please can someone tell me if, in order to get leases on the flats, we have to at the same time put them into an SPV. To put them into an SPV will...
    28-07-2021, 20:38 PM
  • Reply to Expenses off-set against income tax
    by jpkeates
    The mistake is to expect to make a profit with a capital repayment mortgage.

    If you're using the rent to build up equity, that's a perfectly sound plan, but it's almost impossible to make a decent annual profit at the same time (outside some quite specialist markets).
    If you want...
    29-07-2021, 16:34 PM
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