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[Gordon999]

You must instruct your own solicitor who has work experience for leasehold property under the Landlord & Tenant Act

The Freeholder's solicitor works for the freeholder, not for you. That solicitor may slip in some extra terms which are not in your best interest. Ground rents...

[Gordon999]

The first time purchase of furniture is a capital expense for calculating capital gains and cgt .

The second time purchase (to replace aged furniture) is a revenue expense for calculating rental profit and income tax.

If the property is held by a limited company, the furniture...

[Gordon999]

You don't need rent guarantee insurance if the tenant is a local authority.

You may want it for a tenant who works for a company at risk of closing or has to downsize its employees.

[Gordon999]

The average service charge bill for leaseholders in E & W is around £1800 p.a which you and 2 other leaseholders are not paying ( or you have saved ) and so your building of 2 converted houses is deteriorating over the last 9 tears.
You should ask the freeholder or apply to FTT to appoint...

[Gordon999]

JKO's case was one of a "group of 4 cases" judged by upper tribunal at £40 payable. But I am sure your lease will not state it is payable every 6 months .

For Group action info, you should visit the LKP website ( leasehold knowledge partnership ) and join Katie Kendricks...

[Gordon999]

J256,

I found in your example Ramsey v. Hmrc, there was an appeal against the FTT decision which was successful. So Mrs Ramsey was found to be operating a business. I don't think Chloe wants to have her BTL property treated as operating a business in UK.

[Gordon999]

Yes, I think its a requirement to have roof insulation in all new property. That is why the government are offering grants.

[Gordon999]

You are required to notify hmrc within 2 years from acquiring the second home if you wish to change your main residence

[Gordon999]

You must put in roof insulation which will reduce your heating bill.

The EDF website has some information on government subsidised roof insulation.

https://www.edfenergy.com/energy-eff...en-homes-grant

[Gordon999]

I think OP means their "company" which owns the freehold title and the building; and appoints a managing agent to operate the service charge account. "Freeholders association" is the wrong term for leasehold property .

The "members of the company" are the leaseholders....

[Gordon999]

Yes , all leaseholders must be served notice by new freeholder. This includes the executor of deceased leaseholder to facilitate transfer of estate to next leaseholder who may be the executor himself..

https://www.freehold-sale.co.uk/serv...tice-template/

[Gordon999]

Since the Land Registry have been listing their property titles online for more than past 20 years, you should check if you are the title holder of your property by paying 3 pounds by credit card to download the information. The stack of papers called deeds may no longer be required .

[Gordon999]

You should ask for a "summary of insured cover" including name of the policy holder under the building insurance policy and get the reply within 30 days. Usually insurance claims can only be made by the policy holder. Check if freeholder is only person named as the "policy holder...

[Gordon999]

You should buy now whilst you still have a job and can prove your income to get a mortgage loan .

[Gordon999]

If the capital gains of £150K are split 50:50 , then each spouse will submit a tax return to report capital gain of £75 K.

The tax on £75K capital gain is charged at 18% or 28% after deducting the capital gains personal allowance of £12,300.

If your job earnings are over...

[Gordon999]

Normally the buyer pays SDLT before registering the new owner name at Land Registry.

You should consult a tax accountant ( not solicitor ) for advice on cgt for your situation.

[Gordon999]

The ground rent is £200, £400 , £800 and £1600, so try inserting £400 and 86 yrs in the calculator and for £500000 property value , the cost is roughly about £15,000 or 3%.

For getting a more accurate figure, pay a chartered surveyor to calculate the cost and give it in writing....

[Gordon999]

I recommend that you apportion the "April Rent" to include 5 days rent in first tax year's account and enter 25 days rent into second year's account.

For recording expenses, you should enter the expense on the "date due " to make sure you claim all expenses...

[Gordon999]

You could pay a solicitor to prepare the DOT and charge the solicitor 's bill as a "business expense" to the rental account.

[Gordon999]

The items chargeable for maintenance of the building are usually stated in the lease.

You can apply to the FTT and have those items removed as not payable by the service charge account....