Richlist

I've given this some thought and can't see a problem but, I'm no expert either. It's the sort of query that would be raised on another forum.....it may already have been raised there but I can't be bothered to search. Try looking here : property118.com

This thread is a year old but...........

Some local councils (mine included) now collect fridges, freezers and any other large domestic appliances. If they don't work they arrange disposal, if they do work they get them checked and recycled to people who need them.

14 minutes ago, Carryon Regardless said:

The problem will arise when the French air traffic control redirects the flight to the UK, if they're not on strike anyway.

I read, so take as you will, that France give free train travel warrants to immigrants that wish to travel north. Thus they are then closer to the camps for departure across the channel.

Nice tip RL re: Spain. I / we have had thoughts about relocating there. 1st would be to organise our own settlement, 2nd would be to create a holiday letting business. It's v early days and lifting my anchors here (Wales clearly 1st) is part of the design.

Becoming resident there is more difficult post Brexit, although I believe Spain wish to restore ease of relations with us fruitful Brits. But your suggestion is that making a reasonable profit is Spain might be a challenge, that assuming the same tax status applies to holiday letting as does domestic letting.

I wonder if Greece still ignore their taxman.

If you move to Spain & become a resident there are some advantages over non residency. Income tax is 19% for residents & 24% for non residents. So what you are considering is the alternative World of becoming a resident which carries a whole lot of benefits compared to me.....and some of those benefits relate to rental property. Do not assume what I have posted above would apply to you as a resident.

I often frequent a website/forum that provides useful information & discussion for Spain. Here is the link, you might find it interesting....

https://www.talkquesada.com

I heard of a potential business opportunity yesterday for those brave enough to get in early. Apparently there is likely to be a strong market for flying relocated immigrants from Rwanda back to France in the near future.

Anyone fancy sharing the cost of a good second hand Boeing767 to get the party started ?

Just imagine a World where the sun is always shining. A place where when you let your property you have no expense allowances. You cannot offset your mortgage costs, repairs, maintenance, insurance, agent fees or any other expenses. An Eldorado where your whole rental income is subject to income tax......and you have to submit a tax return every 3 months.

Where is this World ?......... In Spain ......if you are a non resident home owner who let's out property.

Of course it does mean you don't need any receipts so you can get anything & everything done incredibly cheaply just by paying cash ! 😇😇

Wales has rarely been landlord friendly. Even more unfriendly if you're a landlord who doesn't live in Wales. In recent years the changes and legislation has made any second home owner in Wales an enemy of the state.

England are having a similar go. Many of the changes over the last few years (mostly by the Tory Gov') have resulted in large numbers leaving the sector. Then, this week, I read that suddenly there is an even larger shortage of rental property than ever before.......surprise, surprise.

I'm sitting on a very large cash pile having sold a few properties. With high inflation eating into it and talk of it hitting 10% part of me says buy more property. The other part of me asks .....are you sure you want to, given the adverse legislation  that pervades the industry ?

The answer is that there aren't very many places anyone can put their money and get a better return.

I have found myself in similar situations a few times. I always try to negotiate an amicable arrangement that provides me with access, viewings, opportunity to limit void periods in exchange for flexibility in rent and tenant notice requirements.

Unfortunately for you......you're in Wales and probably have to jump thru hoops whilst still guaranteed to loose financially. There is no easy answer but meeting each other half way goes some way to smoothing out the bumps.

15 hours ago, Grampa said:

My EPC assessor would accept photographic evidence provided he can keep a copy for his records in case he get audited. He also says he is not expected to test appliances to make sure they work or are connected. 😉  

* A copy of a photograph is easily obtained......so looks like I'm ok.

* I guess your epc assessor doesn't check the central heating, wall stat or controls are working either but places a tick in the box if he sees all that stuff fitted to the wall. All he needs to see are appliances attached to timer controls.......I could even show him where they are and open the cupboard doors for him if it would help.

4 hours ago, Melboy said:

Cavity wall insulation should have a certificate of installation given to the property owner as indeed I have one.

 

Yes, if a finished house has insulation pumped into the cavities you will get a certificate but......not in 1989 when you build a property yourself and the cavity wall batts are fitted as the brick & blockwork goes up. We had specifications, drawings, a surveyor, a main builder for the structural stuff, NHBC certification and a file over 4 inches thick of documents relating to banking, taxation & construction. Oh.....and I was consciencious enough to take lots of photos as it went up.

That's all they will get.

* I'm guessing/hoping that a photo showing cavity wall insulation being installed during construction will provide sufficient evidence ?

May I make a few additions to Grandpa's list....I have no idea wether they will factor EPC improvements but they should.

* Reflective foil behind all radiators on external walls.

* Draw curtains with linings.

* Baloon fitted to seal off unused chimneys.

* High current draw appliances set to run on low rate timers.

Beginners luck ?

Why cant you issue a section 8 notice ?

The short answer is no.

Most of us have our own, mine has been developed over 20+ years. HMRC have only questioned my tax return once in all that time.....I sent them my spreadsheet which was accepted. HMRC won't necessarily expect an excel spreadsheet but you should keep records of how your expense claims break down in case they ask for more detail & a spreadsheet is a good way of doing it.

There is always the alternative of using an accountant for a couple of hundred pounds.

Ok, I got the impression you had carried out structural work on the garage. Replacing facias & soffits are usually cosmetic changes that, in my mind are in the same group as decoration.

I would only have changed them if it suited me and i would have ignored any request from neighbours concerning my property. That's the trouble with some neighbours, they think they have a right to have others jump as soon as they say frog. Id now find at least half a dozen aspects of their property I don't like and complain to them about it........but that's me, I really don't like to be told to do anything. 

I think provided you had a formal contract with the tenants from Dec 2020 - May 2021 then the garage work, interior decor and like for like boiler sounds like it could be offset against income tax.

The cost of 'like for like'  replacements & repairs can generally be offset against revenue ie. income tax.

Any improvements eg. a better kitchen, any additions etc can only be offset against capital ie. CGT.

If any work involves improvement then the total cost (including any like for like) can only be offset against capital.

Repairing the structure of the garage sounds like the property needed work when you bought it. If so, the cost of that work is likely to be a capital expense and would be added to the purchase cost when calculating CGT on disposal.

Did the leaking boiler have a gas safety certificate from December 2020 ? 

You haven't provided enough information for us to answer that question.

What date did you buy ? Has it already been let by you & when ? Did you need to carry out repairs/work before you let it ? Have you carried out any improvement works before, during or after letting ?

Tax returns arent easy if you want to do them correctly. 

Sounds like the overload has either blown a fuse or tripped the circuit and it might be a very simple fix that will take minutes to fix at virtually no cost. Do you have someone local who can take a look for you ?

You asked who is responsible for the repair when I suspect what you mean is who is responsible for the cost of the repair......thats 2 different things.

You the landlord would be responsible for the repair......as the landlord must make the property secure and it's not with a door that's jammed open.

The tenant would be responsible for reimbursing you the cost to fix it......because they caused the problem.

In my experience the answer is to always manoeuvre yourself into a position of strength/ ensuring that you hold the upper hand.

I remember many years ago I asked my employer for a small change to my employment contract. I had given the matter a lot of thought, spent time ensuring the change would result in not just an advantage for me but also that there were benefits for the Company. All the fine details had been carefully planed.  I  arranged to meet senior people in the organisation, presented my proposal, laid out the advantages and was met by a negative response. I described how dedicated I was to the success of the Company by reminding them that I had chosen to let nearly all of my properties to some of their best engineers. My proposal was approved.

So all you need is a contract. You already have one of those. Find a suitable tenant, get it signed, Job done. 

I wouldn't bother with anything else contained in your original post.

Yes I agree, you are making it far more complicated than it needs to be.

You are taking in a lodger. Lodgers have few rights. So you really only need to concern yourself with :

* Does the applicant meet my criteria ?

* Set the rent, can they afford it, will they pay on time ?

* Will they keep the place clean & tidy ?

Nothing else really matters.

You could probably find an island in the Caribbean where Wi-Fi just doesn't work.......that sounds like a very reasonable excuse.

PS.

I'm one step nearer retirement......as I picked the winner in the Grand National yesterday at 50:1

Oh good. By April 2024 hopefully I'll have retired and be relaxing in the Caribbean on a sun drenched beach, sipping on my gin & tonic and wondering what to spend my money on next !

Only time will tell how this turns out.

In Spain, in my particular area it's had the effect of reducing the number of available rental properties as people don't want the effort & expense involved.

I think the situation is completely different between professional landlords with 10,20,30 or more properties and those landlords with 1 or 2 properties. There are an enormous number of landlords with just 1 or 2 properties in the UK that may decide it's time to sell up or incorporate.

Many of us don't use a lettings agent or an accountant so the transition will likely be difficult.

I sympathise.

As I've said many times, I love Wales, would like to live there, it's a great place, has everything I need, but the devolved Gov' have ensured they have discouraged & disincentivised me at every opportunity.

Whilst admittedly my wish to buy Welsh property would further restrict local home ownership.....you would have thought that my money, my ability to employ local workers and businesses & to offer good private sector accomodation might tempt them to take a different approach.

But alas.....I now see Wales as just a small piece of the UK, with a short sighted, inward looking Labour controlled Government who will attract only tourists.

I remember reading about this sometime over the last year.

I think it was a proposal being considered by the Gov' but it hadn't got anywhere near to being passed and as the Gov' have been somewhat busy with other important emergencies it got kicked into the long grass. It wouldn't surprise me if it's been resurrected as they need all the income they can get, as quickly as possible.

Out of interest, they already have this system of quarterly tax returns in Spain.....it's hated. Owners of rental property in Spain who are UK residents, are since Brexit, no longer able to offset any expenses and the tax rate is 24%. Makes a UK landlords lot look a lot more attractive eh ?