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Quarterly Tax Returns On The Way For Landlords

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 ...
Landlords Warned To Pay Taxes Or Face Jail

Landlords Warned To Pay Taxes Or Face Jail

The tax man has signalled a new tougher regime for landlords who fail to declare their rental income. One of HM Revenue & Customs (HMRC) chief fraud investigators has warned any landlord evading tax will face prosecution. Tax investigations are also likely to stretch back for at least six years. The warning follows Chancellor George ...
7 Things Landlords Should Do To Get Ready For Winter

7 Things Landlords Should Do To Get Ready For Winter

Winter’s on the way – and it’s that time of year when landlords phones are ringing off the hook with tenants reporting failed boilers and heating systems. As a landlord you are also a businessman and customer service and protecting your assets are two things always near the top of your working agenda. That means keeping your tenants happy ...
Selling A Property Business Is About Tax And Timing

Selling A Property Business Is About Tax And Timing

Impending tax changes are leading many landlords to consider selling up their property businesses as they fear they will no longer make a profit. Many landlords fear new finance interest relief rules starting from April 2016 will drastically affect the viability of their businesses. Ceasing a property business is fraught with tax issues that
Property Tax Toolkit Helps Landlords Save Cash

Property Tax Toolkit Helps Landlords Save Cash

Property tax is a perpetual issue for landlords – most believe they are paying too much and many are continually looking at ways to make savings. Although some controversial tax changes are on the way, such as changes to mortgage relief and wear and tear claims, too many unwary property investors fail to understand the basics and can slip up ...
Landlords Bamboozled By Business Expenses

Landlords Bamboozled By Business Expenses

How to deal with business expenses is one of the biggest financial headaches for landlords, says a report. Landlords just do not know the difference between a legitimate business expense and one that is not, claim 53% of accountants polled by online software firm FreeAgent. Checking and putting right business expense claims is the most ...
A Landlords Guide To Rent Smart Wales, Registration And Licensing

A Landlords Guide To Rent Smart Wales, Registration And Licensing

We have also produced a guide especially for agents here. The requirement to register and obtain a licence in Wales commenced on 23 November 2016. The registration and licensing is operated and enforced by Cardiff City Council under the name of Rent Smart Wales. There was a 12 month period starting 23 November 2015 for landlords to register
An Agent’s Guide To Rent Smart Wales Registration And Licensing

An Agent’s Guide To Rent Smart Wales Registration And Licensing

We have also produced a guide especially for landlords here. From 23 November 2016, the licensing provisions in Wales commenced. There was a 12 month grace period for agents to comply. The licensing is operated and enforced by Cardiff City Council under the name of Rent Smart Wales. Any person who performs lettings or property management ...
How Will A 0.5% Mortgage Rise Hit Your BTL Business?

How Will A 0.5% Mortgage Rise Hit Your BTL Business?

Landlords worried about the impact of changes to tax relief on mortgage interest coming in from next April also need to work out how mortgage rate increases will hit their property businesses. High earners paying income tax at 40% will have their mortgage finance relief on buy to let cut in half by 2020. By then, the Bank of England expects ...

Providing A Rent Book

You should always make the rent payable calendar monthly even if the tenant is to receive housing benefit / Universal Credit. Where the rent is payable weekly, a rent book in the prescribed form must be provided. Section 4 Landlord and Tenant Act 1985 requires the rent book or similar document to be provided and section 5 describes what ...