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Started by Ron, 14-06-2005, 09:51 AM
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Last Post Tax Accountant  
Started by howard.kidd, 06-06-2005, 15:27 PM
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Started by benji, 05-06-2005, 09:25 AM
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Started by Friston, 09-05-2005, 13:48 PM
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Started by trio, 05-02-2005, 15:53 PM
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Started by bbjjcc, 15-02-2005, 17:21 PM
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Started by JDO, 19-02-2005, 13:46 PM
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Started by MrWoof, 06-04-2005, 08:44 AM
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Started by josswallace, 11-05-2005, 16:33 PM
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Started by ctfrancis, 13-05-2005, 11:45 AM
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  • Reply to Expenses off-set against income tax
    by xenoid
    monthly rent 1250 ... buy-to let mortgage 873.12 - certificates (elec, gas, PAT, Fire and risk, EPC), maintenance and repairs, council landlord licence costs, service charges, landlord insurance.... all of these quickly erode the rental income.. mortgage is high since is an overseas Buy to let mortgage......
    29-07-2021, 08:24 AM
  • 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
  • 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 SPV and Leases
    by jpkeates
    There isn't really a black and white answer to the question, which I think if because there's a shed load of information missing.

    If your husband is retiring from being a director of a company, there's no need for anything else to happen - so I suspect that he wants to exit an existing...
    29-07-2021, 08:18 AM
  • Reply to Expenses off-set against income tax
    by jpkeates
    I can easily imagine that a couple of costly repairs might knock a property into a short term loss, but a rental property let out at a rent that doesn't cover the basic costs of operating it long term sounds very odd indeed.

    How on earth can that happen?...
    29-07-2021, 08:13 AM
  • Reply to Expenses off-set against income tax
    by Neelix
    How many years have you been running at a loss?
    29-07-2021, 07:16 AM
  • Reply to Expenses off-set against income tax
    by AndrewDod
    Sounds like a great investment. HMRC will definitely be exploring those expenses in due course....
    28-07-2021, 20:45 PM
  • Reply to Expenses off-set against income tax
    by theartfullodger
    Why run a business at a loss ?
    28-07-2021, 16:34 PM
  • Reply to Expenses off-set against income tax
    by xenoid
    thank you for answer the first two parts of my question. There was no need to buy a book on tax after all.

    as for your response below.. no, i submit tax on an annual basis. rent is paid in UK bank account. All expenses are listed in tax submission. all legal and above water. ...
    28-07-2021, 15:50 PM
  • Reply to Expenses off-set against income tax
    by jpkeates
    When the business ends you can carry on carrying the losses forward, but, unless you start a new business taxed in the same manner, they're of no use to you.
    You can't use them to offset CGT>

    Essentially, not from tax.
    So, you'd need to make the business profitable in order...
    28-07-2021, 12:08 PM
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