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  1. Yesterday
  2. I got a reply from the dreadful EoN today.......it's only taken them almost 5 weeks to respond. So, an empty property, nobody living in it and they want £135.......absolutely no chance......I'll check the meter reading tomorrow......I probably owe them £20 at the most. Is it any wonder people have no confidence in these large organisations. This has got a long way to run yet.
  3. Last week
  4. I am with Octopus with my own home and very happy to be with them. But.....the property in question is a rental property. Empty and unoccupied and up for sale. So changing suppliers is not really something I want to do in those circumstances. I'm mindful that energy companies are very quick to pass any debt on to debt collectors. I have personal experience where the energy company just sell the debt on without contacting the customer......and don't forget I'm not even a customer with a contract yet. A £50 energy bill can very quickly turn into a £250 debt when costs are added.......that's what I'm trying to avoid.
  5. If your concerned about not paying a company that doesn't want to recognise your existence why not move to Octopus? I perceive you might then be bombarded by the marketing numpties of EON wondering why your leaving, if they have any of your contact details.
  6. EoN ......31 days today and no response ! I'm gonna wait 40 days then write again.
  7. Write to the Eon Chief Executive. 👍
  8. Still no response from EoN.....it will be 4 weeks tomorrow since I sent them a letter with my details. What does the forum think I should do ? Should I take legal advice ?.......I want to register and pay for the electricity I use......EoN are not making it very easy for me to do that are they ?
  9. Earlier
  10. This handy Government HMRC Capital Gains Tax Guide is useful in calculating personally your tax liability even if you have your own accountant. https://www.tax.service.gov.uk/calculate-your-capital-gains/resident/properties/ I have used it and even with the capital allowance relief of £12,300 (plus the Spouse) it will still mean a large chunk of cash payable by me (us) if I sell my property in January which means I probable won't BUT I can definitely see the Chancellor reducing down the Capital Gains relief to around £5,000 next year...... or next budget.
  11. Agreed, as a source of revenue it remains attractive. How much of a hammering by legislation and additional charges before that becomes not so is very dependant on personal situations. There is a continual strategy to increase our responsibilities regarding T's and so reduce the cost to the state. As well as increased costs this also loads us with more bureaucracy. And I actually have great issue with the disproportionate and many penalties that we are at risk from. The courts are a joke and pretty much give all sympathy to the abusers, the stress from this can be considerable. So it is far from being as simple as being able to make more money from this than other (reducing) possibilities. I guess what I am considering with the many known and unknown possibilities is what risk to reward scenarios are likely.
  12. Precisely. That is my situation in January 2021. I will probably keep the property going in the hope I can find a good tenant. It's a minefield out there at the moment with all the planned redundancies in my location and lack of any job security.
  13. Well....the old question still comes to mind. Where else are you going to put your money to give you a better return ? Even with an increased level of CGT and perhaps other attempts to eat into profits we are perhaps still getting a better return than elsewhere.
  14. Another consideration 'may be', and this is merely my thoughts as to what's coming our way, is how local Gov't's (I include the Welsh Assembly in that) will aim to generate higher income to attempt reduced economic impact due to Covid. Westminster will have reduced capacity to offer support as the consequences of the awesome new debt becomes apparent. If the nation/s see a depression that hits industry, productivity and employment then taxation possibilities are vastly reduced. Those that are trapped in their ownership of whatever responsibilities they hold are, in my mind ,obvious targets. Leisure assets like holiday homes/ lets, caravans, and boats are easy targets. Of course so are we. I envisage that these councils will develop an imagination as to how we may be charged independent of our T's that live there. Are such as 2nd council tax charges possible? Might we see moves closer to revenue charges rather than profit, we have already seen an introduction to that. We are expecting an exodus of those that aim to beat any 'rumoured' CGT increases. That will depress the market some and the choice then is to ride it out or take a hit on value. To ride it out there is then a chance of becoming trapped. Depressed values deter the sales as phytologically that feels like a big loss even if there is still positive equity. Any later loading on our profits might leave us regretting the ride it out decision. Just thinking aloud and interested to hear what others whirring cogs are producing.
  15. Following on this topic by an update. Who would be hit in a new CGT regime? "Landlords, savers and entrepreneurs could be in the firing line if the Chancellor follows through on the recommendations. Tom Selby, senior analyst at AJ Bell, says: 'Landlords would be among the biggest losers from a CGT hike, as second properties are subject to CGT when they are sold. The same would be true for anyone who wants to sell a holiday home. 'Because second homes can’t be held in a pension or Isa and are difficult to sell in small chunks to take advantage of the annual exemption, a disposal is more likely to generate a significant CGT bill.' Read the full article here. https://www.dailymail.co.uk/money/investing/article-8945959/What-capital-gains-tax-new-raid-wealth-affect-you.html
  16. I was feeling quite chirpy and relaxed this Saturday morning until I scrolled down to the Funster.....Grampa... with his latest contribution relevant to all landlords thinking of selling up. 😅
  17. Sounds like you missed the boat and the ticket you have is just a wasted cost. Life - bitch - lesson learnt - move on. Good luck with any recovery.
  18. That's actually a good idea. Problem is that the new tenants have moved in already so the old ones could claim that the new ones damaged the property.
  19. Is there advantage in getting another report from another? You might then have reasonable demonstration to recover the cost of the faulty report and any losses that may arise from their missings.
  20. https://www.landlordzone.co.uk/news/breaking-sunak-gets-green-light-to-drop-cgt-bombshell-on-landlords-and-property-investors/?fbclid=IwAR2Y3Pz4xvHy1TwR1yV_v6OOd-HRf_T47_Wt8YbWD5FOsxE_RGrGXyD3REI
  21. It isn't difficult to see from my continual winging that I agree, and have thought same for a long while, that we are being abused by whichever flavour of gov't we have and will get. We can't beat it so we either live with it as best we can or get the hell outa Dodge (get it, dodge ( the ongoing crap that is)). As for having a go at my friendly Welsh overseers, well they won't realise that they are cutting all Welsh noses off until they are the much poorer neighbour of England that the WRA are creating, and then it will be our fault so our investments there will become kindling once again. I used to be pretty well appraised of tax concerns, but laziness and apathy have caused me to be less so. Are we no longer able to reinvest our capital gains revenues into a new investment to avoid CGT (well defer it as it is merely transferred)? Mel you might consider selling to your limited company and at a price that avoids a CGT hit. That at least can soak up 2x CGT up to the allowance threshold. I'm not sure if later advantages might be created for the Ltd Co.
  22. If you think CGT payments are high at the moment when they stand at 18% & 28% don't read the newspapers. Rishi Sunak is considering raising CGT in line with income tax i.e. 20% & 40% or reducing the allowance from its current £12300 per person pa to £5000 or even £1000. In my opinion things WILL get worse, charges will undoubtedly be higher than they are now.
  23. I have a property coming up for re rental in January after a 6 year tenancy and I have been in two minds whether to re-let or sell it. It is what I call my flagship property and it's a very good one and the best in my fleet. The problem is I will get wacked with a heavy CGT payment even with joint husband / wife ownership and CGT allowances and I am in no mood to pass over a huge sum of money to the Government right now coupled with the fact that any financial investment from the sale will earn nothing by way of capital interest. I am also getting a little exasperated with the way this Government is treating landlords in the private sector and perhaps I should call it quits after more than 30 years of being a private landlord. Looking on the bright side though thank God I am not a landlord in Wales. 😅
  24. Request their details of their complaint procedure and and details of their regulatory body.
  25. Hi all I have hired an inventory company to do my check out report. I have seen that they are missing significant items in the report. They are ignoring my emails and they are not adding the items that should be added. For example, there is a cracked wall that has plaster board missing and they are refusing to add this to the check out report, although at their check in report the wall has no defects. Who can I complain about this to please? A body of some sort? Also what can I do? Help! Thank you all.
  26. I feel that it is no longer our choice of who lives in our property once we have handed over the keys. The legislation increases the barriers for us to repossess, and the cost of simple claims and even possible court appearances shouldn't be ignored in this thinking. Increasingly I see that route as requiring more specialist agencies to assist, at cost. Shelter are seen as beyond reproach and play a supporting role in the gov't's strategy of protecting T's in continuance of their tenure, and penalising LL's effectively for being a LL. They employ specialist lawyers and come court time claim against us for those lawyers costs (seen that one when a friend fought a deposit dispute (taken by his agent) and it cost circa £16k). In any case I perceive that the courts will do as they can to provide 2nd chances and more to wayward T's (that of course ignores whatever might have occurred in a tenancy to cause us to attempt repossession). That comes with additional application costs to us. We may hope for such costs to be awarded against the T, that requires a sympathetic judge and a T / G'tor that can afford, I actually see that as a cat in hells hope. So , beside possible phycological advantage, are regular inspections of value? There is less and less we can do about whatever we might discover. Are we better signing T's up for the 3 year max now? The additional and rising costs associated to each tenancy are then reduced where T fast turn around is expected.
  27. A little extra. Our properties are no longer domestic properties as can be demonstrated by us requiring elect certs each 5 years. Off topic but in Wales any 'stuff' left by a T must be disposed of in a commercial manner and records retained for 2 years. But the elec regs state that a new inspection should be carried out at change of occupancy. another cost we should factor in for each tenancy. This is more easy answer legislation in my view as I can see changes of T at the flats in less than a year,.
  28. Aside from the vaccine being used w/o the usual lengthy testing protocols (somewhat understandable) I would have greater interest to understand who has financial benefit from investment in the company / companies that will have this pushed through at speed. time will tell but will we be legislated to have to take the vaccine as it becomes available and is roiled out increasingly to the younger demographics of the populations. It may be that we are required to demonstrate to other countries that we have it to be allowed entry, which is of course their choice. But to insist on it for visitors would sort of imply that the indigenous population should have it. My personal view is that I'm happy for the population to take this. As there will be limited supplies I am happy to wait my turn.,5 - 10 years will do me. BTW that photoshop of Trump is definitely not PC, it's offensive to apes.
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