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About chrisaaaaa

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  1. My company are bringing in some Indian nationals for a few months training. Secretary went and asked local agents and was fobbed off with nonsense like, "has to be an AST and the law says min 1 yr", I guess the agents don't need the complication. However how complicated is it, 2 bed furnished flat for 2 unrelated people with a visa? So 2 ASTs in staff name but UK company guarantee, HMO registration, swapping name on tenancy as we rotate staff thru. Or is there more to it?
  2. I have been doing BTL in a small way for a while, just a flat and a house. Tax and leasehold nonsense mean I am getting out. It looks like the tenants will be out this tax year and sales will be in the next tax year. The flat was such a bad move it will actually turn a tiny loss after sales costs so it does not matter both are in the same tax year. This year 1. From now to the end of the tax year each property will be empty with me paying council tax, mortgage, utilities and service charges. 2. I will have to pay the managing agents a fee to fill out the info f
  3. Saw this in Robs PG newsletter, someone has to be kidding Sex-for-Rent. The mind boggles, just "at risk of losing license"! Section 24 proof at least... The Cardiff meetup must be interesting
  4. Hi John, A few points; If you have proof the bldg was non compliant when it was complete you have a lot more chance than most I have seen, under 10 years, are you covered by NHBC warranty? For leaseholders who cannot/will not pay for works with a valid s.20, the £250 cap on costs is gone now, all they can claim is the difference between what it should have cost and what it did cost (ie actual loss), so long as you do the job properly you will not have an issue. For the waking watch, find out what training the professional security guards approved
  5. So long as the equity stays in the business, it should be, but then there is the issue of is it a business... If you remortgage to buy fast car, then the relief is only to the original purchase price. Not a problem for much longer as the relief is being phased out (ish).
  6. I see a lot of these case in the press, and so far the couple that have been to the FTT have gone as expected, victory for the freeholders. I have to wonder what will happen should a freeholder loose at the FTT and the inevitable appeals, is there an entity who can be compelled to pay, be it ltd company or offshore trust? Could it be a hollow victory?
  7. My usual trick is to estimate my tax return in March and then boost my pension to ensure I keep child benefits and do not pay much tax at the highest rate. 2017 PAYE Income 50K BTL Income 10K BTL Mortgages 5K Income 55K So Pension cont 5K to keep child benefits (under 50K) Pension cont 12K to avoid any high rate tax (under 43K) Assuming the income stays the same, how does the 1/4 section 24 bit work? The tax credit is really confusing, a basic rate tax payer gets income increased, taxed and refu
  8. Could the leaseholders take over the fire marshal duties? I cannot imagine the training will take too long. Similar to tenants doing weekly fire tests in a small block. Good luck but I do not fancy your chances.
  9. http://www.myleasehold.co.uk/lease-extension-calculator ~2K, but costs might well be more than that.
  10. I always have an aversion to anything with a rental guarantee, it either makes sense or it does not, what is wrong with it that means it needs it? Not keen on leasehold, with the extra nonsense of shared washing machines, I can see that generating agro. I look at some of these blocks and think they are designed for BTL, tenants with short term outlooks, if BTL falls out of favour can you sell it to a normal buyer? Final nail in this one, you fixed the price early in 2016, looking at mid 2017, there should have been a years growth to make this a bargain, sinc
  11. @sam Broadly, running costs ("maintenance costs, ground rent and service charge") come off your income tax, other costs come off your capital gains. Sorry Chris
  12. That is a take it or leave it price, you and the other LH can buy it at that price without fear of being gazumped if you do the process right. If you think it is not worth that, you can let the property go to market and offer less, it would still have to be agreed amongst the leaseholders as the FH cannot sell it below that price for a year without offering first refusal again. The danger is that a muppet will come along and buy it for more on the open market, the real danger is that is someone who makes a living out of gouging leaseholders. You can google u
  13. Hi Saul, Just wondering about the process of investing in American P2P, I glanced that way a while back and turned away when I saw stuff about residency and money laundering, gennerally the same processes we go thru in the UK, I thought impossible as a non-american but clearly not. What processes did you go thru? On the equity platforms, what is your experience of the management fees, I have seen things like one off furniture charges (which was actually a BMV sourcing fee if I read it right), monthly corporate governance and accounting fees along with normal management
  14. I understand there was a change to taxes to encourage repairs, so I am not sure if you get relief when replacing white goods. Sounds barking, maybe if a repair engineer says it is uneconomical to repair replacement is ok. http://www.fyldetaxaccountants.co.uk/property-articles/taxman-disallows-cost-white-goods-allowable-expense-unfurnished-properties/
  15. They are regulated, but it is pretty toothless, about the only leverage you have is that the MA has to pay the regulator to deal with each case that gets to them, I think it is about £80. So in the dealings with the MA, frame every question as an official complaint, jumping thru whatever hoops they put in the way, that way you will get an answer within 8 weeks, or at least get the regulator to ask them for you. In a building with no commercial element, nor council/housing assoc involvement, you have a right to take over managing the building if you can get a majority of
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