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  • lbrent
    started a topic Paying wife a salary to manage property.

    Paying wife a salary to manage property.

    I am renting a house with personal ownership (No limited company) and also no property managing agent used. Been lucky to get good tenants who pays in time so all good. I do all the property management tasks, with a bit of help from wife in research good deals. Reading many articles it seems it is possible...
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  • cuttingman
    started a topic Expenses what would start date be?

    Expenses what would start date be?

    We moved out of the property at the end of Jan. Did some DIY stuff, tradesmen stuff and spoke to various agents. Finally got property online with agent mid March. End of August property rented out.

    So we understand Council Tax and utilities can be claimed as expenses. But when would we...
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  • When is an accountant required? and would you bother with a very short previous year?

    We started decorating the property in January 2020 to rent out. We got the property online in March 2020 via an online agency. But only got tenants in last month.

    Do we wait until April 2021 to get an accountant to do our 2020-2021 tax returns? When we have all the income and expenses of...
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  • AB2017
    started a topic Pre-letting expenses

    Pre-letting expenses

    Hi all.

    I remortgaged my PPR flat as a BTL and moved out on 1st December 2015 in order to start a rental business. I had it painted and some repairs carried out during December and January, and then on 1st February signed up with an estate agent and put it on the market. It was rented...
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  • Tax Self Assesment Completion Joint Tenancy & Rental Expense Allowances

    1. My partner and I have been renting our own flat since October. I was on higher tax bracket, my partner on lower as they had not worked in the past 18 months
    2. We own our flat 50 / 50.
    3. We have had significant expenses since renting, including a £9,000 window refurbishment, in...
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  • BigRed06
    started a topic Renting and using second home

    Renting and using second home

    I know this query is out of the ordinary but I think someone must have been in this situation before. I own a second three bedroom property and plan to spend two nights there a week purely for work purposes because the commute is so long, my other property will remain my PPR. I do however want to rent...
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  • Tax treatment of past rent arrears acquired with the property

    Hello,

    I have purchased a ground rent property (only the freehold interest) and paid to the vendor past ground rent and service charge arrears. How are these treated for tax purposes? I'm thinking one of the following:

    a) they are normal expenses that offset rental income,...
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  • Letting consent for 2 years and more questions regarding reducing tax

    Hi all,

    I will start with the simple one hopefully - Can I put a "letting consent fee" that I paid to my money-thirsty mortgage provider against a tax I need to pay a taxman for letting my house out ?

    The other question is very simple - could you please list...
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  • dilbar
    started a topic how to split expenses

    how to split expenses

    1. Our son owns 60% of the rental property but has no other income so is not a tax payer. My husband and I own 20% each.

    If on the tax forms we distribute the income 60:20:20 can we distribute expenses just between my husband and myself as we paid for insurance, gas check, a new fence...
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  • TaxSucks
    started a topic "Other allowable property expenses"

    "Other allowable property expenses"

    I'm going through my tax return and Section 27: "other allowable property expenses" looks like an possible opportunity to claw a bit back.

    My (small) property is managed by a management firm.

    Can I claim for any unreceipted expenses at all?

    Are...
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  • pinka
    started a topic Small Claims Court costs/ L died

    Small Claims Court costs/ L died

    Hi there,

    I was wondering if it legal or not to notify the change of the landlord by email.
    In the tenancy agreement I had a landlord who for helth problems disappeared from the scene and her husband appeared instead of her. All of this was communicated via email using this words...
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  • Lodger evicted; how can I dispose of his goods?

    New to this, so bear with me. On the day I was going on holiday for 2 months, after being made redundant, 1 of my 3 lodgers told me he had lost his job (his fault) and couldn't pay the rent for the forthcoming month! As his deposit didnt cover the rent for the room he was in(he had upgraded) and was...
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