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Jeremy C

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About Jeremy C

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  1. Presumably you've taken tax advice on the inheritance tax effect of the LLC? Non-doms often used to invest via a company to avoid inheritance tax but this inheritance tax protection was removed in 2017 and now foreign companies are basically looked through when holding UK residential property. Of course you may have other reasons for using an LLC (presumably lower rate of tax on the rent) but thought this might be worth mentioning.
  2. For anyone interested in entrepreneurship, this new podcast from the BBC is worth a listen: https://www.bbc.co.uk/programmes/p06qtvzf/episodes/downloads One of the presenters is Rohan Silva, co-founder of Second Home, which offers co-working spaces (so kind of property-related....?). I've listened to three episodes and so far it's really interesting. Thought it was worth a share!
  3. Asking for a friend (honestly )... Said friend has been self-managing with very little background knowledge of how to do it. They have a tenant who is some four months in arrears and they want to get rid of them if possible. Is there a professional advisor out there who can help with them with what they need to do? I'm pretty sure they have registered the deposit but they may not have served all the statutory information required. I just don't know. They need an advisor who can find out what they have and haven't done, work out what the situation is and a
  4. Hi there Do Hubbers have any views on whether tax investigations insurance is worth it? My accountant has just offered it to me for c.£100 per year. Interestingly, it includes 24/7 legal advice on commercial matters, employment and health and safety. Has anyone else had this insurance and ever used it i.e. had a tax investigation the costs of which were then covered? Jeremy
  5. Ouch, that's a really good question. My properties are fully managed and so I assumed I wouldn't have to do anything but now I'm not so sure... As a starting point I found some guidance com the RLA here: https://www.rla.org.uk/landlord/guides/data-protection-legislation-for-landlords.shtml I'd love to know what others are doing, both those whose properties are managed by an agent and those self-managing.
  6. Many thanks, Richard, I'll look them up. Jeremy
  7. Hello all Can anyone recommend a surveyor/valuer in Sheffield, please? It's for a valuation for a remortgage. I was referred to Connells but apparently they don't cover Sheffield! And I'm looking for something a bit more authoritative than Zoopla... Many thanks
  8. I have engaged an accountant for the first time to prepare my 2016/2017 tax returns and I am not 100% convinced that their advice is correct on a particular aspect. The situation is this: 1. When I remortgaged my home, I borrowed an additional sum to invest in my first BTL. You could say that the total loan comprised two parts: Part A - the part needed to repay the existing mortgage on my home; and Part B - the additional borrowing to fund the BTL. Part A is about three time larger than Part B. All of Part B is being used to fund the rental property business. 2. I
  9. Not entirely sure. Think it's up North - I want to say Leeds or somewhere in that direction, but don't know if that's right.
  10. I've passed on to my friend the very helpful information people have posted on this thread. He did not know there might be the possibility of selling the freehold. He is considering what to do but is in no great hurry as this is not a particularly pressing issue for him right now. Many thanks to all for the feedback. Jeremy
  11. I bought a property recently via a sourcer and ended up getting the mortgage from the bank with whom I have a current account. They offered me a better deal than the mortgage broker recommended by the sourcer and there was no issue with the fact that the purchase was through a sourcing company.
  12. Many thanks for all the suggestions, that's really helpful.
  13. Slightly odd situation - I'd be grateful for Hubbers' views: A friend has inherited the freehold to a block of flats which his father built. The leases are all 999 years from the early 1970s and provide for an annual ground rent of £15 per flat. With 24 flats this totals £360 per year. There is no provision in the lease for increasing the ground rent, so as things stand it will just continue at that level. Not sure who manages the block, but it is not something my friend is interested in taking on. He has asked whether there is anyth
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