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​How The New Wear And Tear Relief For Landlords Works

​How The New Wear And Tear Relief For Landlords Works

While the scrapping of higher rate finance interest relief has led to a furore among landlords, a major update to claiming wear and tear allowance has slipped by almost unnoticed. A new consultation announced by HM Revenue & Customs (HMRC) proposes to scrap the 10% wear and tear allowance. The replacement will be a claim-as-you-go ...
Tv’s Dragons Point Out The Risks Of Property Crowdfunding

Tv’s Dragons Point Out The Risks Of Property Crowdfunding

The House Crowd property crowdfunding business model got a roasting in BBC TV’s Dragon’s Den. Founder Fraser Fearnhead​ went to the dragons looking for a £1 million investment in return for a 5% share of the business. But the dragons were astonished that a business Fearnhead admitted had never made a profit and turned over £375,000 in sales ...
Council Should Have Explained Court Fees To Tenant

Council Should Have Explained Court Fees To Tenant

A test complaint we’ve wanted to try for quite some time now has been decided (the complaint was not by us nor one of our members). After a landlord has served a 2 months section 21 notice, commonly the tenant will go to the local authority saying they are threatened with homelessness and will seek assistance. The local authority will in ...
Letting Agent Goes Bust Over Massive Amounts Of Missing Money

Letting Agent Goes Bust Over Massive Amounts Of Missing Money

Letting agent goes bust over missing £500,000 The director of a letting agency that went bust owing almost £600,000 in missing tenancy deposits and rents has agreed not to run a business until 2025. Peter Leonard, 58, had been a director of Direct Residential Lettings Limited in Hove, West Sussex, since 2007. An investigation by the ...
No Cgt Losses On Property Deals That Fail To Complete

No Cgt Losses On Property Deals That Fail To Complete

Property investor cannot offset lost deposits and other costs against capital gains tax on purchases that fail to complete, a tax tribunal has ruled. The rule was reinforced in the case of Anthony Hardy v HMRC in a recent case before the First Tier Tax Tribunal. Mr Hardy paid over £128,000 in deposits on two off-plan home purchases, ...
How And When To Use High Court Enforcement

How And When To Use High Court Enforcement

Especially since appearing on TV, an increasingly common question from members is about the use of High Court Enforcement Officers (HCEO`s) in relation to obtaining possession of let premises. Fortunately for this article, we have recently had a genuine case so we decided to test the procedure for using a High Court Enforcement ...
Judge Warns Landlords To Beware Of Sub-Letting Scams

Judge Warns Landlords To Beware Of Sub-Letting Scams

A judge has warned sub-letting scams by crooks impersonating their landlords to trick unwary tenants out of deposits and rents are​ on the increase. Jailing Heidi Korn for eight months after she was found guilty of fraud at Inner London Crown Court, Judge William Wood called for new measures - including landlords offering photographic proof ...
Hugely Rising Service Charge Found To Be Lawful

Hugely Rising Service Charge Found To Be Lawful

Signing an agreement for service charges and ground rent that increases by a fixed amount each year was a gamble for tenants of chalets at a holiday park that has left them with huge bills, according to judges at the Supreme Court. Tenants at Oxwich Leisure Park on the picturesque Gower Peninsula in South Wales signed up between 1978 and 1991
How To Comply With The Alternative Dispute Resolution Regulations

How To Comply With The Alternative Dispute Resolution Regulations

The Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015 are partly in force now and the remainder which imposes obligations on all landlords and letting agents takes effect on 9 July 2015. The regulations require information to be provided by a ‘trader’ to a ‘consumer’ about ...
Heat Is On Landlords To Help Tenants Eat Decent Meals

Heat Is On Landlords To Help Tenants Eat Decent Meals

MPs are cooking up a plan to allow councils to insist landlords fit out kitchens for tenants on benefits to improve their diets. The All-Party Parliamentary Group on Hunger says too many low-paid tenants eat processed food and takeaways because landlords fail to provide kitchens with cookers and fridges so they can keep fresh food and cook ...