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Found 14 results

  1. Hello, On the HSBC Business Account (Purpose of Account) it mentions: 1) Holding funds to be invested in the UK 2) Holding funds to be invested abroad Are holding funds mean like this: Bonds, stocks, private equity, hedge funds, pension funds, options, portfolio, mutual funds, futures, real estate, savings, personal funds, assets, shares. Is it any funds? The business account is for a private imited company. Thank
  2. So looks like the ball has started rolling on the expected tax grab needed to pay for this pandemic mess. Sunak has clearly voiced property transactions as an area that escapes CGT when compared against income tax brackets. He has clearly called our second home owners. Now in my view this is going to massively effect the plans of those that are coming towards their investment journey / looking to sell up. For those who are planning on being in the market for the next 20years and potentially beyond - is it fair to say that you shouldn’t base your long term investment decisions based o
  3. Hello new on here! My name is Jack and I am Quantity Surveyor, I have worked for a private developer project managing there developments from acquiring the land to end sale but I am now looking to work independently with investors. This could be either hands off or hands on for the property investor and I am happy to work either directly for you to manage the project or even a joint venture if that is an option! If anyone is interested please do not hesitate to make contact with me.
  4. Hey Can anyone recommend a software program that will allow me to me to measure how my business and property portfolio is doing? I'd really like it to measure both things in one program (general business performance, and portfolio performance) and it's vital that it will allow me to forecast/test the effect that potential purchases would have. I'd love to - Be able to test what happens to my business cashflow if I buy/remortgage specific properties at a specific points in the year. Compare the performance of two possible purchases to see which is likely to perform
  5. Hi all, When reconciling P&L accounts for your property ltd company, what is the correct way to categorize a director's loan received (specifically for the purposes of funding the deposit for a BTL)? Same question for mortgage interest repayments. Thanks
  6. Hi all. My wife and I have three properties. I have one, she has two. Mine is in Worcester and my wife's are in Wolverhampton near where we live. We want to build on our portfolio to a net income of at least £2000/mth We both work full-time as civil servants. I project managed the total renovation of our farmhouse including successfully obtaining government grants. What a faff that was but worth it in the end. I listen to the podcasts and subscribe to the property hub website / magazine. I'm looking for advice on accounting. We have started using Go Sim
  7. Hi guys, I'm looking for accountant recommendations who specialise in BTL investing via SPVs/Ltd Co's. I'm a self employed independent contractor (based in London) and looking for the best way to transfer deposit funds between companies. Any recommendations would be most welcome! Thanks in advance
  8. Hi guys, I'm looking for accountant recommendations who specialise in BTL investing via SPVs/Ltd Co's. I'm a self employed independent contractor (based in London) and looking for the best way to transfer deposit funds between companies. Any recommendations would be most welcome! Thanks in advance
  9. Hi, Can anyone recommend a good/knowledgable property accountant in central Scotland? Ideally West Lothian/Edinburgh but would consider Glasgow. Thanks
  10. Hi all I have a portfolio of 6 properties so far and have spent months educating myself about property and its management - thanks to the great resources on here and the podcast. They have really helped to fuel my passion for property and now I have a plan for adding to my portfolio over the coming years. I'm an accountant who works in industry as a contractor (systems, management consultancy etc) and I've done a fair bit of research on tax rules and company structures etc. So I'm thinking about combining my passion and experience with a friend who is a Chartered Accountant in Practi
  11. Good afternoon I had a question regarding capital gains allowances. I am a higher tax payer, but my wife is on a lower band. I am buying a property with which I'd hope in the next few years I'll be able to take out £22000ish (2 peoples CGT allowances). If the mortgage was placed in my wife's name only (for income tax reasons), and I put my self on the mortgage nearer the selling time ( to get two CGT allowances) would I be subject to paying stamp duty again? On the other hand, if I placed myself on the mortgage now but owned say 10% o
  12. Hi all I am looking for a ‘bank account aggregator’ or budgeting app that links to my accounts that also allows me to categorise my cash spending and provides up to date remaining budget information instantly on my phone. I know a recent resource of the week was Toshl but I don’t believe this has the bank account link. I have been frustratingly trying to align all my spending in one place for the purpose of tracking spend and budgeting. I have used budget apps and basic spreadsheet apps to input spend made from cash withdrawals ‘on the go’. I also have a main spreadsheet where I co
  13. Reading many blogs, posts and journals and also listening to various podcast still hasn't really given me a definitive answer to the question "when do you need an accountant?" various sources have said "you only need one after purchasing your 5th property" yet some say "you need one from the outset" surely having an accountant from the beginning would be the best option, so that you are not losing out on any tax advantages on you whole portfolio? what i do know, going on with my portfolio is that i am going to use a property specialised accountant. if your going to pay for an acco
  14. Afternoon all, I have just started in the BTL world and recently completed on my first BTL property. As I will now be completing my own tax returns, I recognise the requirement to keep accurate account of all costs/expenditures made for my property. Apart from keeping all invoices/receipts etc and logging everything on a MS Excel spreadsheet (my plan at the moment), I thought I'd ask the hub how you keep track of your expenditure on your BTL properties? There is no doubt a more efficient method, but I'm keen to learn from the collective experience of the Hub. Many thanks Lee
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