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michael-a

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About michael-a

  • Rank
    Newbie

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  • Location
    London
  • Areas I invest in
    UK

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  1. Thanks taxantics for the advice. For now, given it's just one property, the costs and complexity of e.g. setting up and maintaing a company likely exceeds the benefits. But I'll definitely consider other structures for further purchases.
  2. Good evening, My wife and I have bought a BTL property and we are looking to sign a declaration of trust which assigns at least 99% of the rental income to her and 1% to me, as she is in a lower tax bracket than me. The common way of splitting the rental income for tax purposes seems to be 99%/1%, but I was wondering if HMRC will also accept a 99.99%/0.01% split. I'm asking because we are planning to buy more BTL properties later on and over the years the tax difference on that 1% of rental income could actually have some impact over the years. So if possible I'd rather save that tax.
  3. Good evening, I am currently buying a BTL property together with my wife. We will hold the property 50%/50% as tenants in common, but plan to use a Declaration Of Trust together with HMRC Form 17 to assign 99% of the rental income to my wife and 1% to myself, to benefit from my wife being in a lower tax bracket. The property is mortgaged and both my wife and I are named on the mortgage. My question is: Does it make a difference to HMRC (or to anyone else) in whose name the following things are? What names would you recommend and why? Bank account into which the tenant pays th
  4. Hi all, Background: I am planning to proceed with my first BTL property and, after having read a lot, I'd like to start with Liverpool. A bit more information on my background is in this posting here. Research done so far: I have already read the previous threads on Liverpool area advice, some of them are a few years old. Also read the recent Liverpool article in the Property Hub Magazine. Now I'm looking to narrow down the choices and focus my search on specific areas and postcodes in Liverpool. Would appreciate your advice on areas in Liverpool which would fit my se
  5. Hi James, Many thanks for your advice! Leeds sounds also very interesting and it's pretty high on my city ist (#2 after Liverpool). Appreciate if I could contact you in the future and have a chat about Leeds, once I have done more research on it. Definitely planning to diversify across 2-3 cities over time. Michael
  6. Hi Maxine, Many thanks for reaching out. I'm currently reading up on a several topics in this forum and the Property Hub website. Looking forward to getting in touch with you. Michael
  7. Hi Property Hub members Having recently joined Property Hub I wanted to take this opportunity to introduce myself. I live and work in London and have had a keen interest in property and property investments for several years now. So far much of my attention was on purchasing and refurbishing my own home in London. Now that this is done, I would like to take the next step and invest some of my savings and recurring job income into BTL property. In terms of strategy, I am looking for BTL investments with a yield above 5%. That rules out most of Southern England. So I am planning to inv
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