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Jordan Hamilton

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Profile Information

  • Location
    North Yorkshire
  • Areas I invest in
    North East England
  • About me
    Have another full-time job but have invested in property in the North East since I was 19 with a friend. Since June 2017 I've been a Co-Director of Taylor Hamilton Properties Ltd.

    I also source properties in the North East - PM me for more details or email at Jordan@Taylor-Hamilton.co.uk
  • My skills
    Property Tax, Project Management, Property Sourcing, Property Management
  • My goals
    Have a sufficient property portfolio to retire at 55!
  • Interests outside property
    Climbing, skiing & politics

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  1. Hi Melanovich, I’m by no means an expert but I think I’ve gained a bit more experience over the years so here is my view on your questions. 1. you will be required to complete a CT600 (Corporation Tax Return). I do this myself using a combination of Xero and TaxCalc, although there will be many other software packages and most use an accountant. 2. It is my opinion that the specific expenses you have listed with regards to purchasing your first property would be regarded as capital expenses and should not feature as expenses in your tax return. Instead they should be listed as a work in progress (WIP) in your asset column and deducted from the capital gains tax when you come to sell the property. If you have incurred any other legal or service fees relating to the setting up of your company (and not purchasing the property), these could be listed as expenses on your tax return. I hope this helps, Jordan
  2. Hi guys, I was wondering if any land lords insure the appliances across their portfolio or just pay for repairs/replacements outright? If anyone could recommend a landlord specific white goods/appliance insurer that'd be great! Thanks in advance, Jordan
  3. Hi fellow hubbers, I'm currently reading 'Using a Property Company to Save Tax 17/18' and on page 195 it says: What are the cases where this isn't possible? My understanding of this is that I've taken out a bank loan, which I've then invested into my company as a director's loan, I am able to claim the interest relief when completing my Self-Assessment Tax Return? If this is the case, what boxes/parts of the SA Tax Return form would be completed to account for this?? Thanks for any help in advance!
  4. Hi Hubbers, I'm looking to submit my CT600 and I hope to use TaxCalc to do so. However when looking at the supplementary pages offered the site offers CT600A to CT600K. Could someone please advise what supplementary page covers a UK Property Rental Ltd Company? Thanks a lot! Jordan
  5. Thanks all for your feedback, The situation has developed slightly... I have contacted the landlord and they've been slightly communicative but aren't really doing very much to sort the problem out. 7 days later their kitchen is still leaking into mine! While Citizen's Advice suggests that I am liable to the damage caused to my property so long as it was an accident on my neighbours behalf. A friend from a legal background suggested the fact that the property is unoccupied and the landlord has not sorted the problem in a reasonable timeframe could be grounds for a claim of gross negligence. Any advice on this would be greatly appreciated. Many thanks, Jordan
  6. Hi everyone, I’ve had my tenants on the phone a couple of days ago saying that there is water leaking through the light fitting in the kitchen. The property is a maisonette so above the kitchen is the kitchen of the neighbours. The property upstairs is currently unoccupied and I’m having no response from the landlord. Clearly the longer I leave this the more damage will be incurred on my property and the bigger the bills. 2 Questions: 1. How can I get upstairs to do something about their leak. 2. Do I have grounds to expect that they pay for my damage correction bills too? Thanks in advance, Jordan
  7. Hi Sarah, Yeah I think i've got till about March 19. I'll be sure to message you if I figure it out through this forum or by other means! Jordan
  8. I'm looking for a bit of guidance on filing my first accounts to HMRC, without an accountant. I've had a good look through this forum and haven't found the answers I was hoping for so... I'm keen to do as much as possible myself, including my accounts. I've kept all the books but now It's time to file my first company accounts. Where do I start?! Below are a list of problems I encountered once I logged onto HMRC: 1. It's saying I can only file my Companies House accounts and that I need tax software to upload my HMRC accounts - why is this and how do it do it? 2. Do I file micro-entity, abridged or full accounts - and why?? 3. When on the 'Profits and Loss' page is my 'Turnover' all of my revenue income and 'Cost of sales' my revenue expenses? 4. When on the 'Balance Sheet' page, do my director's loans and mortgages fall under 'Creditors: amounts falling due after one year'? Also what's called up share capital? Essentially I feel a little out of my depth but it looks as though once I've got my head around it there should be no reason I couldn't do this myself. I appreciate I could just go to an accountant but I'd really like to try and figure it our for myself for now - I managed to do my own conveyancing myself after lots of research. Thanks in advance, Jordan
  9. Hi Simon, I've just had my broker speak to Vida and they said that they only apply floating charges to trading companies and not to SPVs. If this is the case does it sound safe enough to you? Thanks a lot, Jordan
  10. Hi Dino, Aldermore will lend as low as £60K and whilst their interest is a bit higher on a low value product there's nothing dodgy. Simon, Thanks for the info, i'm getting straight on the phone to the broker reference this! Jordan
  11. Hi Kris, I Could be wrong but I've always considered these costs to be capital. Essentially i've been treating anything to do with 'property procurement' as a capital expense. I could be wrong but this was my interpretation. Jordan
  12. Thanks Daryl, that's actually been really useful! Could you please go into a bit more detail on the fundamentals of the depreciation as an expense? It's not something I've heard of before? Thanks, Jordan
  13. Hi Allen, Thanks for your reply! I've spoken to a broker who reckons Vida Homeloans will be able to lend given the criteria but we'll have to see. I just hope I don't stump up another valuation fee for it to collapse for some reason later on! Thanks again, Jordan
  14. Hi Dougie, Your 100% gold plated solution would to pay a valuer to get you a report. But failing that I think any 'reasonable' valuation should be sufficient - perhaps see what the report from https://www.ewemove.com returns and use that at 'reasonable' proof? Jordan
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