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Carryon Regardless

I'm not Self Employed.

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Our T's are told that they can take a rent payment holiday of 3 months, the message was a little ambiguous but that is what those that prefer to see it as will read it as.

So far I have the HB T's that are making it a battle for me to achieve the top up element of rent. One would be keeping the whole rent but at least I managed to get his HB redirected to me.

Another who has suffered a 10% wage decrease has dropped his rent to me by 25.5%, regardless of any response I have made to that.

The County Courts are furloughed, well I've not been unable to find specific info on specific courts so must assume that any I would hope to use for any hoped recovery of debt is unavailable for that purpose. Although historically I have learned that money spent on the County Court is wasted money.

The Gov't announce that the self employed will get a grant of up to £7,500 initially and this may be extended. Those in receipt may still work and even take up new work. Very generous thinks me, and clearly this is to encourage, ambiguously, the principle of 'stay at home'.

So it crossed my mind that my self assessment is completed not as self employed, but as revenues from Land and Property, hmmm,  am I eligible? Well today I go online and it requests my specific id's and no I'm not. I am now expected to just sit and watch my revenues diminish and still pay out for all responsibilities. 

Stuff 'em, I'm returning to my usual business activities. I was happy to pay local tradesmen where needed, and avoid the travel of self with need for materials and refuelling. I could have even accepted the scabby git T's stealing my money where I might have been compensated as other traders seem to be.

I can't carry out hands on activities from home, so I'm entitled. There may be some opportunity afforded me to remind these thieving little wuck fits that I want my money. 

At least the roads should be fairly quiet and the travelling more pleasant.

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Income from property is classed as investment income.

There are winners and loosers in the current emergency.

The Gov' cannot protect everyone's income.

As an experienced landlord you will already know the options open to you when letting property:-

* Rent guarantee insurance &/or......and preferably

* A home owning guarantor.

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44 minutes ago, Richlist said:

 

* A home owning guarantor.

You will remember the guarantor option has always been my preference. Insurance has been suspect for a long time, and with the present crisis we read here that it is now w/o value.

You can't carry out threats to g'tors if the courts are furloughed though.

By the time this finds it's new normal, that is it settles at what ever level we find ourselves at the debts run up by T's will often be beyond their ability to recover from. The threat to g'tors will be something the courts will do all to avoid being a practised outcome.

I am expecting T debts to be largely written off. Debts that existed prior to the crisis will be dissolved into the whole. The longer this goes on the more likely that will be the result.

For a long time there has been a resistance to repossessions by LL's, this avoids social disruption and that must be an ever increasing priority during this crisis and for a period after.

My issue in my particular example is that there isn't the common protection for those that submit a self assessment. True the Gov't can't get it right all the time but this is a glaring disparity. It will result in an increase in those taking the law into their own hands as the increased realisation is that there is no state policy for the many that feel they are being abused can fall back on.

Just a little more that will be a reminder of the up yours to us LL's is that we will be paying toward the cost of the repayments in future, and I for one will be thinking it is a further example of the one way street I / we are travelling.

 

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I'm in the same boat as COR.  Not classified as self employed even though I pay a very large amount of tax to HMG as a "retired" person.

Not a lot one can do about it really but to grin and bear it for a while longer. Fortunately I have not had any tenant try it on with me but I am expecting a possible default with one through no fault of their own in this current situation. Not sure how I will deal with it when the time comes.......if it comes.

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16 hours ago, Carryon Regardless said:

You will remember the guarantor option has always been my preference. Insurance has been suspect for a long time, and with the present crisis we read here that it is now w/o value.

You can't carry out threats to g'tors if the courts are furloughed though.

.

 

I not 100% sure this is correct for MCOL. Evictions yes. MCOL is an online excise and if it doesnt get defended will not need to go to court. 

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There are two separate issues here.

1. The ability of the landlord to legally recover unpaid rents...a) from the tenant or b) through rent insurance or c) from the tenants guarantor has changed.   In the current emergency I'd suggest......a) & b) may not available and c) is likely to result in delays.

2. That recovery of unpaid rent by any means is likely to be subject to lengthy delays. So, it's a good idea to set money aside to cover operating expenses. However, having a home owning guarantor in place will eventually result in the tenants debt being paid.

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Yes I can see the online claim may well produce a result.

It is dependant on the defendant being, perhaps, naive. I have enjoyed that advantage in the past and it is well worth consideration, thanks.

An issue is that invariably in Prestatyn is that Shelter is prominent and convenient. Where they are aware that actual court action is unlikely the resulting advice becomes obvious. I could do with researching their availability locally (Rhyl) during this crisis.

I would imagine that if I were to start a MCOL, and it is then defended, that come the time when courts are sitting again I would be somewhere in the queue for a hearing. Hopefully in their increased backlog and confusion the case wouldn't go astray, not unheard of in usual times.

I've had a court experience (Rhyl) claiming from a G'tor in the past. Although defended the G'tor didn't offer anything of substance at the hearing, the judge effectively defended for him. I claiming over £1,600 was challenged with "why don't we call this £750?" "Why don't we call this £1,6--, that's the debt."

Result the judge awarded £750, for no relative reason that I could discern. Payments at £20pm starting some 2 months ahead. I requested if the court would manage the receipt of payments, but this service that once was, was no more. But the claim had been delivered on, it was up to me to chase each payment. Guess how much I got.

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