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Council Tax?


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Hi Diane

Unfortunately you as the owner are responsible for council tax until the property is tenanted. Councils sometimes seem to have discounted rates for empty properties but I found (with Cherwell Council) that this ends when the property is long term empty (probate sale). You will need to inform them that you are the owner but if not they will find you sooner or later.

You should always factor in holding costs such as CT and utilities when purchasing a house to refurb as they can really add up the longer the house is empty. These are all allowable expenses for a property business which is a bonus although I still resent paying CT on an empty house.

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David M Slater ACMA 
Accufy Accounting
01946 552801
  david@accufy.uk
  www.accufy.uk
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7 hours ago, david slater said:

Hi Diane

Unfortunately you as the owner are responsible for council tax until the property is tenanted. Councils sometimes seem to have discounted rates for empty properties but I found (with Cherwell Council) that this ends when the property is long term empty (probate sale). You will need to inform them that you are the owner but if not they will find you sooner or later.

You should always factor in holding costs such as CT and utilities when purchasing a house to refurb as they can really add up the longer the house is empty. These are all allowable expenses for a property business which is a bonus although I still resent paying CT on an empty house.

 

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On 12/29/2020 at 8:42 PM, diane said:

Hi all I recently purchased a BTL house on the 22 Dec( it’s not rented out just yet) do I have to inform the local council about tax etc?

Many thanks

Diane

Yes!

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Property Investor and Developer
UK Property Blog: https://evolutionblogger.com/article/uk-property-articles
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