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Started by Johnc2020, 04-03-2020, 16:15 PM
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by bowsden
 
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  • Will they raise taxes again?
    by JK0
    My accountant just finished my 2020/21 tax return, and my income is half of the previous year. I did not think it would be quite that bad. (Half my tenants moved out, and I had a job to replace them. Plus had to get fourteen EICR's!)

    I'm guessing you guys are in a similar boat. Never mind...
    27-11-2021, 20:20 PM
  • Reply to Will they raise taxes again?
    by theartfullodger
    Taxes bound to go up, huge amounts to pay for Covid & BR*X*it. Death & taxes, death & taxes.

    Holding off working out my position, wishing to remain cheerful for Christmas.

    Best wishes to all...
    28-11-2021, 10:45 AM
  • Reply to Will they raise taxes again?
    by Neelix
    ^^ please don’t take this the wrong way but £10 k down on what turnover or number of properties?

    i’ve done a lot of EICRs and remedial work over the last 18 months and a lot of it was because properties hadn’t been inspected and some were just dangerous....
    28-11-2021, 10:29 AM
  • Reply to Will they raise taxes again?
    by jpkeates
    I'm about £10k down and it's mostly electrical work.

    I can't see this government putting up taxes anymore before the next election, although there's nothing to say that they won't figure out how to tax landlords more specifically - there's few votes lost there.

    My candidate...
    28-11-2021, 10:07 AM
  • Reply to Will they raise taxes again?
    by Neelix
    That's a lots of unsatisfactory EICR's and remedial work - so not annual costs!...
    28-11-2021, 09:00 AM
  • Reply to Will they raise taxes again?
    by Neelix
    Wow.

    So that must be lots of unsatisfactory reports and lots of remedial work.

    so not annual Costa...
    28-11-2021, 08:31 AM
  • Reply to Will they raise taxes again?
    by jpucng62
    Clearly you were a bit behind on your electrical work!...
    28-11-2021, 06:58 AM
  • Reply to Will they raise taxes again?
    by JK0
    The EICR's cost around £12k in total....
    27-11-2021, 22:48 PM
  • Reply to Will they raise taxes again?
    by Neelix
    14 EICRs isn’t going to dent the income from 14 properties

    its the void periods that cost you...
    27-11-2021, 22:37 PM
  • Reply to Corporation Tax
    by Thurrock1
    jpkeates,

    the other directors can't withhold information from them - I am my husband's agent as he has dyslexia and has difficulty with all this. This has been explained to the director but he does not like me and chooses not to recognise in that case anything I/my husband writes.
    ...
    25-11-2021, 09:39 AM
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