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scott child

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  1. Hi guys, just a quick few questions on tax that come up less often. BTL insurance claim, if you claim on your insurance for damage to a BTL property, do you claim the insurance payout as income and claim any contractor repair costs as expenses or do you claim neither as its an insurance payout rather than earned income? If you withhold some or all of the deposit due to losses of time, work, rent, damage or whatever, either for actual contractor costs or for your own time and hard work to clean and repair etc, does this need to be claimed as income or not as the deposit
  2. Hi, some advice please. A tree in the back garden of a single let property has split and fallen and damaged the tenants contents inc kids trampoline, swingset, and paddling pool. Luckily no damage to house and thank god no-one was hurt. Issues to address: i have half a tree that needs to be cut down. half a tree that needs to be dispossed of. tenants personal belongings damaged. now im guessing im liable for the tree to be cut down and the removal of what has fallen. but the tenants contents are they covered by my buildings insurance? Is the t
  3. Hi, can you claim food or meals as an expense as a landlord? Thats the main question and now for a bit of specifics. i know the wholly and exclusively thing. You can claim travel expenses such as 45p per mile for travel (up to 10k miles). I’ve read in many places that if visiting a property that requires an overnight stay then the stay and meals are deductible as long as the stay is ‘wholly and exclusively’ for attending the property. In my specific case that I'm questioning, my rental properties are an hour to an hour and a half drive away. Ive recently pur
  4. Hi All, Update again, the company did get up and running and the proceeds from the 90% LTV main residence loan and the remortgage of our 2 exisiting BTL’s at 75% LTV has so far allowed the purchase of 2 properties in the company name at 80% LTV with enough spare to get a 3rd in the company name in the near future. So 90% LTV is possible on main residence although far fewer lenders are available and you must meet the criteria. After all your borrowing more money and the risk is greater for the lender. 80% LTV on BTL or Ltd company mortgages is also available
  5. Hi guys, what is everyone doing regarding the new GDPR rules?
  6. Hi Guys just a quick update before a full update in a few months time. I did infact managed to get a 90% LTV mortgage on my main residence and at the exact value i had predicted 2 years earlier and all went to plan. I will however say that 90% was difficukt to achieve as few lenders are avaliable amd criteria is slightly more difficult but we managed. This has funded the company start up which is now also up and running so im now a director of my own limited company along with my wife. Ive spoke to Rob and Robs resident mortage advisor and he believes im in the best position possib
  7. Hi, I wish to increase my tenants rent and every single place I look doesn't explain fully what to do in my situation. For some reason the management company that had put the agreement in place had failed to include a procedure for increasing rent within the agreement. I now no longer have a management company for separate reasons but their agreement is still in place. The tenants are currently in a 12 month agreement ending in 2 months and their rent is paid monthly and charged per calendar month. I wish to increase the rent in up to 8 months from now or less whic
  8. Hi Richard nice to hear from you, and from a fellow investor from Hemel. Ok so 1st update is my fiancé and I are now married! We got married only 2 weeks ago on June 26th in Cyprus. Now we can move forward even better as a team. 6 months have passed since my post and the the goals remain mostly the same but I'll try and answer your questions and give you an update. So my 2 rental properties are in Northampton, as you say rental yield is deminishing down south and prices are also getting high. When we purchased them it was march 2016 for completion. We got a 3 bed mid te
  9. Thanks Paul, I thought I could do one myself if necessary. Im a builder and supervisor and have to carry out risk assessments and conduct method statements occasionally. Most of the time they are done by my office. I'm also competent in most trades. However my risk assessments are more specific to building works. I know what increases the risk of legionella and ways to help prevent it but I don't have a risk assessment template specific to it, is that something you might have? Scott
  10. Hi all, I need your opinion on what my management company have said to me. They have stated that health and safety legislation has changed and landlords are now required by law to carry out a legionella risk assessment. They have advised that a professional company come in to do the assessment at nothing short of business busting fortune. So what is your opinion having read all below and what are you doing about it? Many Thanks my opinion is that this is not strictly true if at all and so I done some research and came up with this: What it is and landlords r
  11. Hi Aidan, On item 3: I own shares in a number of companies in a stocks and shares ISA. This enables me to pay no tax whatsoever on any dividend income or CGT on any growth no matter how large. The only drawback is the maximum limit you can invest into an ISA per annum. However all share purchases incur a stamp duty charge of 0.5%. I believe that if any shares were sold then stamp duty at that rate would be paid on the value of shares. The property as you said will not be exchanging hands and the owner of them will still remain as the company.
  12. Hi my name is Scott, I'm 28 years old and live in Hemel Hempstead, Hertfordshire. I'm a demolition contractor and work in London. I'm also handy at most other trades. Me and my Fiancée bought our 1st house in August 2011 (aged 23) half as a refurb project and half to be our 1st experience of living together. We had saved £17k each and spent the whole lot on the deposit and purchase costs. Original plan: To renovate the property ourselves bit by bit as we saved money from working and whilst living in it using minimal contractor help to reduce costs and s
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