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Hello, I’m Adam aged 23 from Solihull, Birmingham. I come from a pretty piss poor family. After several years of hard core study, it’s paid off and I now work full time and I enjoy my line of work. The industry I work in doesn’t appear to be affected by anything Brexit. I do not look on replacing this job to become a; full time, hands on, busy bee landlord. Being young and earning £35k+ I ought to be wise and invest for my later years. I do not wish to get any short term gain by topping up my income as this will begin to push me ever closer to the next Tax (40%) bracket. Afte
Hi guys, just a quick few questions on tax that come up less often. BTL insurance claim, if you claim on your insurance for damage to a BTL property, do you claim the insurance payout as income and claim any contractor repair costs as expenses or do you claim neither as its an insurance payout rather than earned income? If you withhold some or all of the deposit due to losses of time, work, rent, damage or whatever, either for actual contractor costs or for your own time and hard work to clean and repair etc, does this need to be claimed as income or not as the deposit