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Found 6 results

  1. I planned to move out of the property I own in 2019, but didn't move out and therefore rent out my flat until Jan 2020. I'm doing my self assessment for tax year 19/20, but was wondering if I can still claim for ERC incurred for changing my mortgage to a let-to-buy type mortgage (not sure it was exactly this as they knew I wasn't buying a new property - living with parents), even though I changed my mortgage in Feb 19 (before the tax year I'm submitting). Also are any of the other legal fees involved such as notice to leaseholder etc tax deductable. Many thanks!
  2. Hi I do all the admin for a single property my partner owns and lets privately and i'm just trying to make sure i'm looking at things correctly. It was his residential home previously. In preparation for letting it, many repairs were done in the months beforehand. New kitchen as the existing one was handmade. New boiler as the existing one was 27 years old. Refresh of decor and flooring etc. It was in a livable and lettable condition, but as he was going to be moving far away, he wanted to make the property as reliable as possible. The boiler and kitchen were large jobs as the location a
  3. Hi all, This post is to see if anybody has had a similar problem to me this year, and if so to seek mutual solace that we are not alone!! I submitted my return in October, online. The amount was low enough to be paid through PAYE, which I opted for. At the start of 2018 I was getting text messages from HMRC reminding me to pay. I logged in and my account said "You have nothing to pay" which I took as confirmation it would be taken through PAYE. However by yesterday this was still niggling me so I logged in. My account was now saying I had to pay
  4. Hi, I replaced the existing worn carpet in my new rental last year which cost me £3k, and along with other repairs to make the place rentable I have a total of £4k expenses to claim against my tax. However the HMRC online tax has highlighted " WARNING: This figure is high in relation to 'Total rents and other income from property' ". I've gone through the claimable items and the only possible questionable one is whether the carpet is a capital expense. To me this is a like-for-like replacement, therefore claimable, but am I wrong? Thanks Dave
  5. Hi everyone, I'm planning on completing my self assessment tax form this weekend. I haven't yet completed on my first rental property but have incurred costs such as the sourcing fee and property education books in the 2014-15 tax year. Should I be including these costs in my self assessment somewhere? or do I just need to keep records for future capital gains deductions? Thanks, Richard
  6. Desperately seeking a financial wizard/accountant/bookkeeper to help me prepare for my first re mortgage to release equity for a self build / BTL strategy I have a salary of £26k incl overtime, plus around £20k of self employed + rental income (commercial property sub lets, lodger and parking) I've been doing my own tax returns for years and as I'm so conditioned into maxing my expenses to pay as little tax as possible, I feel it would be wise to employ a suitable wizard with a sound understanding of the current requirements of lenders to give me the best outcome. I need to be sure what
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