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kanrent

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Everything posted by kanrent

  1. Could set up a bad energy company black list also a bad tenant black list
  2. Bit of an off topic, but if the tenant owes money for rent arrears it might be worth mentioning to them that they will be pursued at a later date for the arrears in court and if they loose and still don't pay they will be credit black listed in the future.
  3. If interest rates fall below zero you will probably have to pay the bank to keep your money
  4. kanrent

    VAT cut

    Hi does anyone know about the VAT cut, my letting agent still charges me the usual 20% Vat
  5. As a general rule professional tenants are better but not always my last tenant was a loss adjuster for insurance companies owed rent moved out with telling me, lied to the neibours about where he was moving to, stole everything in the house including the carpets and trashed the place before leaving.
  6. Avoiding Capital Gains Tax on Inherited Property Another time when the capital gains tax comes into play is when an individual inherits property. Often, the individual who inherits the property does not want to deal with the burden of keeping it. The good news is that if the individual chooses to sell the home immediately, they may not find themselves subject to the capital gains tax. The deceased’s estate does not have to pay CGT on any property or assets not sold before they passed away. The government considers these to be unrealised gains but does not require inheritors to pay a CGT. However, if the value of the property increases after the person dies, then an individual will need to pay CGT when sold during probate. The capital gains tax is not on the final sale price minus the initial buying price. Instead, the government estimates the CGT based upon how much the value of the home increased after the person passed away. Those who inherit property do so at the probate value. The government only holds them liable to pay CGT on the increase in probate value. So, if an inheritor knows that they do not want to keep the inherited property, they should sell it during probate. The increase in value that occurs during probate is minimal if any at all. Selling the property during probate is an excellent way to avoid capital gains tax on inherited property, considering that the government waives previous CGT as unrealised gains.
  7. Better start praying it won't happen in England
  8. kanrent

    CGT

    I did read they are also thinking about abolishing the 12k relief
  9. kanrent

    CGT

    Well seems like the chancelor will introduce a wealth tax by increasing CGT so much for a tory government
  10. Thanks on that note I think I will wait and see what happens the uk seems to be in a complete mess at the moment
  11. Is that a bad idea can you elaborate
  12. Hi just wondered if anyone here has a buy to let in Newcastle upon Tyne, I'm interested in buying a property there and am wondering which would be the best type of property to buy and which area, also interested in a good letting agent to manage the property.
  13. mel boy i just read this here on this sites news landlords of privately rented accommodation, including houses in multiple occupation, must: Ensure national electrical safety standards set out in the 18th edition of the ‘Wiring Regulations’ (British Standard 7671) are met. seems like it does have to meet the 18th edition
  14. Don't forget about the government's persistent efforts to try to destroy the BTL industry that also needs to be taken into account
  15. I would prefere South East England excluding London of course, Essex and Ipswich has some properties for that price but I guess anywhere in the UK would be OK, basically anything rentable in that price range but only freehold
  16. Does anyone have any ideas about where would be the best place and property type to invest in a BTL property for £120,000 in the UK, have some spare cash and thought it would be better to put it into property than in the bank
  17. Just been reading hmrc Web site If you claim the property income allowance you can't claim any expences as we already know, unfortunately I think these property expenses include the agents management fees
  18. I'm just wondering if you only have 1 property and you claim property income allowance on your tax return do you still have to complete the other boxes on the return stating your property expences
  19. Has anyone got any idea what changes might occur in relation to CGT now the tories are in power, before the election bj kept silent on this
  20. If labour gets in they might make you sell it at a discount to the tenant under their proposed "tenant right to buy"
  21. Can't the tenant check the air for themselves before they move in it's getting ridiculous the nanny state will have us wiping their backside for them next
  22. What happens if you rent your house out and go to live abroad will the tenant have a right to buy under market value and leave you homeless when you return, or no fault eviction can't move back into your own home will one have to wait until the tenant dies The devil really is in the detail I could write a hundred pages about "what ifs" "supposings" "maybes and " buts" but the politicians won't say just wait and see how we're going to get shafted (sorry about the vulgar language) just makes me angry that landlords who provide homes for people are depicted as monsters
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