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[Gordon999]

If your block of flats is located in a rough neighbourhood, then security of the flat against break-ins is more important than having convenience of remote door opening.

[Gordon999]

Better for leaseholders to set up RTM and replace the existing managing agent.

[Gordon999]

This website quotes some costs for setting up RTM:

https://www.freemontpropertymanagers...ll-rtm-cost-me

I would expect the claim notice to show the property title number plus name of leaseholder , so you would to buy a copy of the property title...

[Gordon999]

Here is the hmrc guide to sdlt for replacing a main residence and claiming back the extra 3% within 36 months :

https://www.gov.uk/stamp-duty-land-t...property-rates

[Gordon999]

Yes, you can.

[Gordon999]

For block of 5 flats and each leaseholder has a share of the freehold company , and no ground rent collected , you just file annual "dormant accounts" for the freehold company to Companies House. The service charge money belongs to the leaseholders and not part the the company accounts....

[Gordon999]

The term "main residence" applies to "property owners living in their own property. It does not apply to renters living in property owned by another person.

If presently one property is under wife's name and one property under SPV company name and no property under your name,...

[Gordon999]

Take some photos of the trashed condition of property in case you are asked to show proof and claim the entire cost under repairs except for items which are new or improved ( didn't exist before).

You will have to complete a tax return for each year and enter the amount of loss you want...

[Gordon999]

CGT is payable after disposal by sale or by gifting ( assuming no mortgage ) ..

Assuming you are paying tax at 40% rate on your income, the capital gains is taxed at 28% rate.

For capital gain of £300K less £12,300 capital gains personal allowance = £287,700 charged...

[Gordon999]

You have to ask for them , if over due .

[Gordon999]

No legal requirement for separate bank accounts at present....

[Gordon999]

The 6 years limit for claiming debt comes from the Limitations Act 1980 :

https://www.legislation.gov.uk/ukpga/1980/58

[Gordon999]

The LEASE website ( www.lease-advice.org) has records of past FTT decisions and you can search for reports of past decisions on statutory lease extension..

[Gordon999]

You can declare the rental income and expenses as happened in the tax year 2020-2021.

Best if you can set up one bank account to receive all the rents collected and pay out expenses by cheque. So you can keep one set of bank statements to prove your transactions.

For only...

[Gordon999]

You are the leaseholder of a leasehold house and you are interested to buy the freehold title. The market value of the freehold title will depend on the ground rent income and the number of years remaining on the lease. You can download a free guide ( at www.lease-advice.org ) to buying the...

[Gordon999]

You should be asking the letting agents in Newport.about best area for letting demand for 3 bed houses....

[Gordon999]

This website shows the gross yield can be 4.4 % found in Scotland and only 3% found in London.

https://sevencapital.com/property-ne...ds-across-uk/#

[Gordon999]

The gross yield is taken as % of annual rent divided by the property market value .

http://www.liveyield.co.uk/blog/what-is-yield/

[Gordon999]

If the property is 100% under wifes name, the taxable gain is £42,500 - £12,500 ( pers allowance ) = £30,000.

Wife pays 18% on £30,000 = £5,100.

But selling under joint names , husband pays £2500 and wife pays £1620 = £4,120 .

So don't do crazy things....

[Gordon999]

Each person is required to report the annual rental income and expenses for their own share of the property.