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Paul bimrose

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  1. Yes, I totally agree. I'n my case I do all the renovation on the property to start with, then find the tenants, do all the paperwork etc. Once the property is up and running with tenants in I'm the one that deals with everything, collects rent, sorts out any problems etc.
  2. Cheers DerekT I've been going through the old Zoopla stuff, but as you say, very hit and miss, I'll try home.co.uk now, ta!
  3. Is there anywhere that archives rental prices once they have been taken off Rightmove for example? I need to know the rental prices for an area where nothing is currently for rent. Ta!
  4. Similar topic here: So it seems you just need to inform HMRC as to how you are splitting the income. Whatever the split, that is how you pay the tax owed.
  5. https://www.gov.uk/government/publications/income-tax-declaration-of-beneficial-interests-in-joint-property-and-income-17 "Use form 17 if you own property with your spouse or civil partner and want to change the split of income to an actual basis for tax purposes."
  6. Hi Raymond, A form 17 is only required if you are married and are tenants in common. If you are unmarried there is nothing to fill in, you just need to inform them of how you are splitting it. Cheers Paul
  7. Hi Jamie, I got pointed to this which explains it all pretty well: http://www.ramsaybrown.co.uk/documents/JointlyOwnedPropertyandTax.pdf So, if you are unmarried, as I assume is the case with you and your brother all you have to do is write to HMRC and let them know that you are splitting the income in whatever proportion you decide (10/90, 20/80 etc) and that is it done. For married couples it seems a little more tricky. I asked this on another forum as well and was advised that the letter to HMRC should be something like this: Dear Inspector of Taxes , We A and B are joint owners of the property at 123 Road Rd . We have agreed commencing from 6 April , 2017 the rental profit from the property shall be shared 90% to A and 10% to B. Yours sincerely , Signed by both A and B .
  8. Hi Craig, I mean when purchase the property we will either be joint tenants (even split), or tenants in common (split however we specify). As I understand it if we are joint tenants then as an unmarried couple we can simply draw up an agreement saying how we will split the rental income.
  9. Hi Darren, The NLA does a good one that is alterable to an extent. You have to have an account and be logged in to access it (free account will do): https://www.landlords.org.uk/services/nla-lettings-and-property-management/forms/assured-shorthold-tenancy-agreement/create-online
  10. So the situation is my long term partner (we aren't married) is nearly in the 40% tax bracket and I'm not. We want to split rental income to be more tax efficient. Is the best way to do this to be joint tenants and simply draw up an agreement stating that we are splitting the rental income say 90/10 in my favour? Thanks in advance!
  11. We're just getting two remortgages and an new mortgage and I've been going through the same process. We've ended up going with 5 years, taking all costs into account they end up being about 20% a month more expensive, for the first two years at least, but I can only see one direction for interest rates to go at the moment.
  12. Once you have a login for NLA (this can be a free one), this is the link to the AST you can customise yourself: https://www.landlords.org.uk/services/nla-lettings-and-property-management/forms/assured-shorthold-tenancy-agreement/create-online
  13. This doesn't go down to the town, but it goes to the County or local authority: http://landregistry.data.gov.uk/app/ukhpi/explore
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