Service Charges – What work is included
Service charge clauses will generally include an obligation to pay a proportion of the cost of repairing and maintaining the common parts of the building and any other parts for which the landlord retains responsibility (e.g. the structure and exterior). The nature of the work covered by the obligation is a question of construction of the ...
Basic Tax Implications To Be Aware Of
Over the last year the number of buy to let mortgages in the UK has risen, partly as new investors enter the property market and as professional landlords look to expand their portfolios. Regardless of the number of buy to let properties you own it can always help to be aware of the tax implications of owning property and what you can do to ...
83,000 Buy to Let Tenants in ‘Serious’ Rent Arrears
Landlords went to court to evict thousands of tenants in the last quarter of 2015, according to a new report. (more…)
Landlord Tax Changes ‘Perverse’ Argues Academic
Landlords trapped in to paying more tax by finance interest relief changes coming into force in April need to raise rents by up to 30% to offset the extra cash they hand to HM Revenue and Customs (HMRC), according to an independent expert. (more…)
When is tenant 8 weeks in arrears for direct payments? (Doncaster v CCC)
Doncaster v Coventry City Council, First Tier Tribunal 032/09/00932, 5 October 2009 The Guild of Residential Landlords has won a very important case which will benefit all landlords throughout England and Wales where the tenant becomes in arrears and the landlord requests direct payment. Since this article was written, the DWP has amended ...
Council Tax – Discount on Second Homes and Long-Term Empty Properties
Currently, a number of exemptions and discounts are available for council tax where no one occupies a dwelling as their main residence. (more…)
Quarterly Tax Returns On The Way For Landlords
Landlords earning more than £10,000 a year are likely to have to make quarterly tax returns under Chancellor George Osborne’s new digital future for HM Revenue & Customs (HMRC). The proposal is landlord will have to report their income and expenses every three months and pay income tax on the profits. Investors will also have 30 days to ...
Escalating Ground Rents Trap New-build Investors
Buy to let landlords investing in new build leasehold properties that are almost impossible to sell will get a lifeline from the government. (more…)
When to Protect
A deposit must “as from the time it is received” be dealt with in accordance with an approved scheme . Note, in that sub-section, there is no 30 day time limit which is important for agents. If an agent passes the deposit to his landlord client for protection and that landlord does not then protect the deposit, the agent will be liable to pay ...
Do Deposits Need Protecting by 5th or 6th of May?
As many will have perhaps noticed, websites explaining how time is running out in respect of protecting any unprotected deposits aren't in sync with the same answer. Some say this needs doing by 5th May and others say 6th May. If you've got all your ducks in order and any unprotected deposits are now protected then this doesn't matter. ...