Wookash

Thanks @Dino V I ticked the box with earnings from employment and property income. On this occasion I will include all the maintenance and repair costs. However the accountant also ticked self-employed section and provided details there. I'm not self-employed of course. Not sure if this is correct.

Hi folks, I'm about to submit my first self-assessment in order to pay tax from rental income. This is my first time and I hired an accountant for that. I provided all of my costs and income details to him and he prepared self-assessment report. So far so good! However there are things which I put under question but I couldn't get a clear answer from accountant hence I decided to ask you: - in the report I'm declared as self-employed with with costs and profits which don't line up with my real costs. Question: I'm fully employed and I only have 1 rental property. My main income comes from salary, not renting out the property. Should I declare as self-employed in the report? - the accountant asked me to pay the tax via https://www.tax.service.gov.uk/pay instead of doing it via personal tax account / gateaway. Question: Is this alright? I'm fully employed and I only have 1 rental property. My main income comes from salary, not renting out the property. Should I declare as self-employed in the report? Rental income, gross is under £8000. All answers and comments appreciated!

Hi, I tried to find a land for sale in the local area however I have a hard time finding it. I searched property portals but there is none available or very few which are mostly for commercial use selling for milions of pounds. I'm just looking for a small residential plot that would suit 3-4 houses and I'm struggling to find anything. Any hints where to start or where to look for?

I've already contacted 4 developers who sell properties in South Yorkshire. None of them is offering properties in this new scheme. Moreover none of them even know what this is about, they mistake it for Help to Buy. I wouldn't expect any properties under the First Homes to come on the market any time soon. And I even contacted the developer who afaik sold/sells First Homes properties in Bolsover. They had no clue over the phone what I'm on about.

What are the hidden criteria or limitations for this scheme? Surely 30% discount will come with some requirements e.g. can't sell the property within next 5 years or perhaps repay that 30% discount over 10years?

Thanks

What you guys think? Is it a clone of HelpToBuy which wasn't the best option for investors or is it a game changer? https://www.mortgagesolutions.co.uk/news/2021/03/01/govt-backed-95-per-cent-ltv-mortgage-guarantee-scheme-will-be-open-to-all-reports/?cmpredirect

I monitor the market for 14 months now and I have noticed following trends: - number of houses in 5 large cities (population from 80k-600k) located in middlands is decreasing sharply over last few months - number of flats is increasing in largest city and stays at similar level or increases slightly in other cities What you think could drive this trend? Why it started to drop recently and not from April when we had sharp lockdown? How will this trend change in post-lockdown life? How post-lockdown situation could affect the prices - will prices go down due to increase of supply or will it drive prices up due to less restrictions and certainty for the future? Chart shows number of properties listed for sale on Zoopla in 5 large cities in periodic snapshots for last 14 consecutive months. Dotted lines - flats Normal lines - houses Colours identify same city, respectively dotted lines for flats and normal lines for houses. All of the market, no price ranges. Excluding commercial properties.

Are there any restrictions for this new scheme ?

Also I'm planning to do structural alterations in the property. I was wondering if it wouldn't be better to purchase a freehold rather than obtain a consent for alterations. I'd like to point out the fact it's a house. What's your opinion?

I would like to change SystemBoiler to Combi in my own property which is a leasehold tenure house. Do I need a consent from a freeholder? Can they actually block it?

Sure its a big news and its a great topic for a podcast . I wonder when these reforms will become a reality since no timeframe is revealed yet. Here you can find a full brochure: https://s3-eu-west-2.amazonaws.com/lawcom-prod-storage-11jsxou24uy7q/uploads/2020/07/Summary-The-Future-of-Home-Ownership-final-N2.pdf

The original kitchen is very small and the developer used their bespoke kitchen design. After 15years kitchen just got a bit tired and we would like to fit a new one. However nothing fits when we try to accomodate units from Howdens, Wickes etc. The only option is to do sacrifices in a form of losing a cabinet or getting small fridge or leaving empty gaps. Having a consent for moving a drywall (empty divider wall by 20cm) would allow us to get our perfect fit kitchen. Why would you avoid doing that?

Ok. I've got this in the lease: So I guess I'd need to get the consent from the landlord in order to change SystemBoiler to Combi and move some of the internal walls. What's the best to approach them? The other thing I'm not sure is how much they need to know about the refurb? If I wish to change toilets or do a new bathroom (without moving any walls) should I also ask for a consent? What if I would like add more lights in the room, does Landlord need to know about these details?

I would like to refurbrish my own leasehold house (still ongoing purchasing process). This will include new plumbing, boiler installation, new lights, new doors, throughout the property and moving some of the internal walls (non-supporting, plasterboard). What consents do I need to acquire to do it legally (if any)?🤔 Can I do it without a consent from a freeholder?🙄 Can I apply for a planning, refurb before I receive keys? (i'm still in the process of purchasing the property).😬 All remarks and comments highly appreciated.