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Showing results for tags 'council tax'.
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can I claim council tax as expences
misha_n posted a topic in Tax AdviceI have to prepare year end accounts for my SPV. Could some one give me advice if I can treat council tax bill payments as revenue expenses
Council Tax - Due Diligence
phykell posted a topic in General property discussionPurchasing a house to refurbish or add value to seems to have a potential hidden cost in the form of council tax. If you happen to buy a property, say at auction, and the property has been unoccupied for more than two years, then your council may, if they have this as a rule, expect you to pay more than the standard rate from the point at which you take ownership; this is because the additional rate is against the property - who actually owns it is, apparently, not a consideration. In the case of some councils, the additional rate may be levied at 100% or even more. I did wonder if there's a way to get around the additional rate such as moving into the property temporarily (but for how long as a minimum?). The more I think about it, the more I believe that verifying the expected council tax charge, i.e. checking to see if the property has been flagged by the council as being unoccupied, should be part of standard due diligence.
lgreenhalgh7_hotmail_com posted a topic in Tenant AdviceHi there, providing all goes smoothly i am soon to come into possesion of a 4 bed HMO, most hmos in the local area have bills included. I am hesitant to do this thinking they'll be so wastefull and it's a lot of hasstle on my part. Also when i was a tenant i never had bills included. I was thinking of paying for internet only as it's such a delay waiting for that to arive and it can't really be abused. Am i missing a big advantage of having bills included as i just don't get why I'd do that except to compete, however i am confident there are plenty of tenants and lots of demand. Thanks
Council Tax - Void Period Credits
Mark Onan posted a topic in General property discussionMy understanding is that government gave local councils the power to claim council tax on rental properties during void periods between tenants. The councils were able to afford landlords discretion if the void period was less than a month. My local council (Northamptonshire) took up the option to tax on void periods no matter how brief the duration. It's therefore quite clear to landlords in my area that they need to factor in the council tax liability as part of any void period projections. What is less clear to me is how much the council should be able to charge. If a property is occupied as a single occupancy, the occupier is entitled to a single occupancy reduction of 20%. The occupancy discount is applied do to a reduced use of the council services. To my mind this reduced occupancy discount should also be applied to empty properties as they are also using less services. It may sound like a trivial amount of money but becomes more significant as portfolios increase in size. Does anyone have any experience in dealing with their local council and obtaining the equivalent of a single occupancy discount on their rental properties during void periods?