barrymangan_me_com

Thanks Deb, a quick read through tells me it won’t afffect thar many hubbers and whilst it mentions property, I’m guessing it’s more aimed at profits from those selling on eBay etc

I found the following on the Gov UK website and can’t seem to find a mention of it on the Hub Forums;; The property allowance is a tax exemption of up to £1,000 a year for individuals with income from land or property. If you own a property jointly with others, you’re each eligible for the £1,000 allowance against your share of the gross rental income. My question is, are we all entitled to the allowance? Or, is it dependent on what profits are earned, salary thresholds etc....? Any help appreciated. Thanks Barry

Happy new year all, looking forward to the meet up on 1st Feb and hopefully meeting a few new faces. Harry, best of luck with your move to Bristol, good to have met you. Regards Barry

Good post Chris, looking forward to the first Official meetup for our side of the country..!

Give me a shout if anyone local to Stamford wants a lift tonight. Barry

Post deleted as no longer relevant Thanks Barry

Great post with quality reply, covering everything with impressive figures. Just goes to show there are still good deals out there, great find Dil, hope it all goes well.

Thanks Chris, good post - see you all on the night. Barry

Thanks Chris, I've sent you an email following hub response. Barry

Hi Holly & Chris, great to catch up and good to meet with Harry and Ryan. i emailed the hub guys this morning suggesting they look at our side of the country for an official meet up and await a reply. Chris I'm impressed with your apartment purchases and would appreciate any links to similar, currently available properties that you consider worthy of consideration. Holly, kindly remind me of your recent house purchase location and more importantly make sure you have the water leak source viewed in the loft. Harry, best of luck with future mortgage applications, I hope HSBC prove helpful. Hope you picked up some useful local info Ryan. Will update on any reply to my enquiry. Hope the engineer has left by now Chris and the outcome positive... Barry

I'll be there Chris, looking forward to it. Thanks Barry

Hi Guys If I were to purchase a £170,0000 BTL the stamp duty would be a staggering 6k...! Am I right to assume this extra tax cost can be used to offset against future gains? If so, can it be offset against profits in first year or spread over lifetime & on eventual sale only....? Any help appreciated. Thanks Barry

Encouraging responses to 3rd July, looking forward to it

Good plan Chris but watch out for a clause within some Peterborough agents contracts. They can charge a fortune if you change to self manage with existing tenants. Luckily managed to talk my way out of such a charge, so just be careful. Have a great weekend. Barry

Great Barny, let's hope a few others can make it. Do you use an agent to source your tenants as I believe you self manage...? I took back the management from my agent on one property a few months back and without counting my chickens, I have to say so far so good...) Barry