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challisj

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About challisj

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  1. In the end I was forced to use accountancy software to do the submission since this s/w does not have the limitations of the HMRC front end web site. I cannot help but thinking they did this intentionally to remove the need to cater for these potentially complex situations. Oh well, onwards...
  2. Anyone any ideas on this one please? Would welcome the benefit of people's experience. TIA
  3. Up to now I have successfully self managed my property affairs without the need for an accountant. I now come to submit my first CT600 for my property company (for its first full year). I have come across the following obstacles on the HMRC web site after I logged on for my Property Co.: Unable to submit rental income more than £5200 per annum Property expenses cannot exceed the rental income My rental income in the first year is more than £5200 (good) but I also had a lot of expenses so I made a loss in that first year Please can anyone help with how I submit my Corporation Tax return in this situation and other people's experience? All of the accountants I have asked have just said that I need to come to them and use 'software'. Surely having come this far I can get it over the line somehow in a cost effective manner without needing to pay for additional services that I do not need Other people's experiences who have not reached for an accountant to do it for them would be most welcome. Regards
  4. There are so many resources out there so let me suggest a few and others can add: Networking. Hearing other stories makes things real and starts to let you see what feels right for you. Make sure they haven't got anything to sell by telling you their story! Education (Free courses): Property Hub now has the University and lots of You Tube Videos. Plus don't forget all of the podcasts that are just a wealth of experience and guidance Best of luck on your journey and I hope you find the way that works for you.
  5. Hi tobzere Congratulations on putting things down on paper - now to create a 6 month/1 year plan perhaps? We have a meetup in Nottingham if you wanted to invest closer to home and we can perhaps help inform your choice of strategy. Details below or get in touch: Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  6. Hi Steve I do a lot of work in Nottingham so can probably recommend a few options for you. Depends a lot on the work required. If you send me a PM we can talk offline more easily perhaps since I do not have any of your contact details. Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  7. Hi Ben Got any update for us? How has it been going for you and your partner? Jonathan
  8. Hi Chris Welcome to the forum and investing in Nottingham. If you want to discuss more and share experiences, then please send me a PM or come along on Thurs 14 Nov to NG7 Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  9. How's it going Adam? Have you had a chance to see some of the variety that makes Nottingham both an investment opportunity and a challenge? Have you decided what strategy you are going to use: single B2L, HMO, SA or other? Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  10. Hi @floorboards How's it been going so far? There are a number of networking events in Nottingham every month some paid for, some free so take a look at facebook and eventbrite. Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  11. At the last count there were 7 different meetups of different flavours happening monthly in Nottingham to cover our buzzing investment scene. As mentioned Facebook and eventbrite are the first places to look. Please PM me if you want further details. Jonathan Challis E: Challis8@gmail.com M: 07847 303273 W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  12. Just to echo Julia's reply and add that DASH is rarely worth the additional work including study and tests (and now cost) unless you have a portfolio that is subject to licencing and so get some economies of scale. The council application process is a long winded one with lots of optional sections and questions that are unlikely to apply to please give yourself plenty of time and mental head space to get through it to the bitter end. It has lend many of my landlords to cry for help and nearly give up in despair. As an obstacle to investing in Nottingham City it certainly sets the bar higher than other places! Well done @paddy horsington for being aware of the scheme since many landlords are still not and I still get offered properties from landlords that don't want the bother! My portfolio neighbours Bestwood and I live nearby so if I can help further please do not hesitate to send me a PM. Jonathan Challis W: BespokeNPS.co.uk Eventbrite: Nottingham Property Circle Share - Learn - Build
  13. It is common with some auctioneers to leave the real values of the fees to the Special Conditions to catch the unwary. They appear to be able to apply any 'fees' they wish without constraint and it is our job as prospective purchasers to factor them into our calculations. IMHO They are just fees to line the pockets of the vendor and/or the auction house so well done for spotting them. You have to question the behaviour and integrity of auction houses that encourage vendors to go down this route. How will they behave in other regards? Cynically they might be just hoping for enough rich bidders that don't read the "small print" and find out later to their cost?
  14. Hi Ben How has your research been going? Welcome to the forums and hope you have been getting lots of insight since your original post. I will not attempt to answer all of your questions but: - B2L Mortgage and never owned a house? You need a good mortgage broker who can help you navigate. A key individual in the team - Choice of city. A crucial one really since sometimes it pays to get a broker local to the city you want to invest in. That way it makes 2 good reasons to come to the city for a visit. - Strategy. Sounds like you are looking for yield but do you know how much and of what kind. Housing benefits, small starter terraces or bigger family homes. So many choices it is important to make some choices early on to reduce the wide field of options otherwise. - City Visits. Have you visited any of your potential cities to get a feel for the rental areas and look at them through the eyes of tenants (your potential customers)? A great way to start to work out what feels right for you both. If you want to talk about Nottingham and all of the variety and opportunity it offers then feel free to get back to me. Regards Jonathan ChallisM: 07847 303273W: BespokeNPS.co.uk Eventbrite: Nottingham Property CircleShare - Learn - Build
  15. Hi John Its Jonathan from Nottingham. Just wondered how your Property journey has been going since your original post in March?(!) By the way 10% of rent for full management (sometimes +VAT so be warned) and 10% for maintenance and some allowance for voids is generally sufficient to budget for when letting out a single family buy to let (IMHO) Look forward to seeing you in Nottingham for a tour and showing the diversity of options available here if you can make it perhaps? Regards Jonathan
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