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[Gordon999]

You can call the tax office hotline , quote your tax reference and ask if your recent letter / form R17 has been entered under your file ?...

[Gordon999]

For calculation of capital gain after sale, the gain (= "sale proceeds" minus "acquisition costs" ) and you want to include the cost of 6 additional buildings and not kept the receipts, you still show the calculation in the tax return but you declare the acquisition cost is based...

[Gordon999]

The Directors ( leaseholders ) of the RTM company should appoint an external ( honest ) management company for managing their service charge account and spending of their service charge money. Under the leasehold system, the freehold owns the building and the leaseholders are long term rental tenants...

[Gordon999]

If you and your wife own the house, then both of you are required to submit annual income tax return and report 50% of the rental income and the expenses.

The Ltd company can act as the letting agent for the property owners and charge 10-15% of the annual rent as letting commission....

[Gordon999]

You should be asking the relevant planning consent office in your local council.

[Gordon999]

If the overpaid amount is below £15K, each leaseholder can try claiming refund of overpaid sum ( + 8% interest ) using the online small. claims court.

The leaseholders probably need to set up RTM company to replace the managing company appointed by the freeholder.

[Gordon999]

If you are part way through an existing fixed term mortgage, you should want till nearer the end of the term before re-mortgaging.

Equity release is only for those who have no income to pay interest on a normal mortgage loan.The interest rate charged is higher because the lender has...

[Gordon999]

Apportion the telephone bill, the tenants have to contact you.

External painting every 4-5 years for woodwork ( doors, window and roof gutters. and fences etc )...

[Gordon999]

Yes, its better to do the work and you can book the £311 bill as maintenance cost.

There is no need for you wait for it to breakdown. The tax man is not going to argue over the extra £26 in cost.

[Gordon999]

If you only owned one property during 2012-2014, you were paying the council tax bill and it was not rented out , I think you can safely claim ppr for that initial period.

[Gordon999]

The unspent service charge money including "reserve fund/sinking fund " belongs to the leaseholders. The RMC has to keep the service charge money in separate bank accounts called "client account" for which the bank will issue a letter to acknowledge the "client account"...

[Gordon999]

The RMC has to file its own "RMC company accounts" to Companies House and if it has no ground rent income, it will be filing dormant accounts.

The RMC has responsibility under the lease to collect the service charge money from leaseholders and arrange maintenance of the building...

[Gordon999]

Have you checked the freehold title and site plan are correct ? Both items can be purchased for £3 each by credit card and downloaded from Land Registry Online ?

Is your company buying the freehold title without mortgage ? What is the reason for such a large difference in price...

[Gordon999]

I wonder if any below applies to your situation ? :

https://www.rossmartin.co.uk/private...rty-relief-iht

[Gordon999]

Does this example 48A apply to you ?

https://www.revenue.scot/example-48a...main-residence...

[Gordon999]

You would need 4 flats out of 6 to support RTM process and proceed to claim RTM of the building ( without support by LL's 2 flats) .

You would ensure that the 4 flats appoint the first Directors of the RTM ( and keep the LL from becoming a director and bringing all the pain into the...

[Gordon999]

If the building is damaged by any act of terrorism and there is no insurance cover, the building cannot be repaired or re-instated.

Any outstanding mortgage loans still have to be repaid by the leaseholders. So buying insurance cover for terrorism is a MUST have or the directors of the...

[Gordon999]

If the mortgage lender has registered a charge against the freehold title for security of the loan, you will not be able to move any flats to separate leasehold title.

[Gordon999]

In England, you would have to sell the old residence in order to claim back 3% paid on the new residence ( and make the claim within 3 years.)

Better ask Nicola if you can keep the old residence.

[Gordon999]

The capital gain is reported in Tax Return SA108 + SA108 Notes ( 2019) . There is a blank space in box 54 to show your calculations including your expenses.

I don't think the tax office can insist on seeing the receipts because 17 years is a long time ago and officially they only require...