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    Lease Extension for Leasehold Properties

    Hello, lease extensions confuse me. I was under the impression once the lease drops under 80 years it becomes unmortgageable and the value of the property drops sharply. Yet I see properties on sale which don't reflect the lease length. case in point - my mother had a btl which we tried to sell...
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    Rental Income

    ok so we all know the government are reducing the amount of mortgage interest you can claim against your annual rental income to reduce your taxable profit in chunks of 25% from 2017 to 2020, where it will be zero. What are the other costs a landlord can claim to further reduce their taxable...
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    Mortgage Interest

    Me again, so as people are aware, the government have now scrapped the wear and tear allowance and are gradually eliminated the deduction of mortgage interest from 2017 in yearly chunks of 25% up until April 2020 where you will not be able to claim any deduction of mortgage interest to reduce...
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    Retrospective income tax liability relating to property income

    well I can't submit a revised tax return for the four tax years concerned until I get copies so that I can see what figures were included. In any case I have revised my calculations, working out profit using the following formula total rental income -mortgage interest( figs to be confirmed)-...
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    Retrospective income tax liability relating to property income

    Ok so I've gone through all of my tax returns that I have and worked out how much profit I made from renting out the property in the tax years concerned. Out of the six, I've paid tax on 1 tax year, the other tax year I lived in the property from the start of the financial year until January. I...
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    Retrospective income tax liability relating to property income

    well I was going through my accounts and as I am missing my tax returns for three out of the six tax years concerned , it crossed my mind that there may POTENTIALLY be a liability . I could be wrong. I have since acquired statements from the account I used to manage payments during this time...
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    Housing Benefit

    Hi, How does housing benefit work in the uk ? Do councils automatically pay the monies direct to the landlord irrespective of whether the tenant is working or not ? Or does it get paid directly to the tenant and is it up to them how they pay their bills ? I'm guessing council policies differ...
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    Retrospective income tax liability relating to property income

    Hello, ok so I'm new to property investing and am wanting my own tax affairs up straight and up to date. I've owned a leasehold property since July 2007 and during that time I let out the property for 58 months whilst living in it for the rest of the time. going through my accounts it has...
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    Rental Yields- gross or net

    How can a low yield or any yield for that matter influence the level of capital appreciation ? Surely capital appreciation and property prices are driven by what is going on in the area the property is in...regeneration, thriving local economy, jobs etc. Sent from my SM-J320FN using Property...
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    How to work out how much rent to charge ?

    Ok this a uk specific question -possibly bordering oin mind blowing ignorance, but how do you work out how much rent to charge on a property ? is their formula to use or do you take into account a myriad of factors such as rental prices of similar sized properties in the surrounding areas ...
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    Rental Yields- gross or net

    Ok so I'm realtively new to property investing and have done some general reading on the subject; one thing I don't get is rental yields. Some people say 4% is good ,,others say 7%... but what are they comparing it to ? other btls in the surrounding area of similar price or sizes ? I'm just...
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    a clear distinction between equity release, additional borrowing and remortgaging

    Hello, I am thinking of acquiring a btl but I am getting confused by the meaning of the below three terms; Equity Release, Additional borrowing Remortgaging So I live in a leasehold flat worth approx. 150k and in reasonable nick ( few wear and tear elements but nothing that can't be fixed )...
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    tax on let period during ownership of Property

    I've spent some of my weekend going through my tax affairs. There are six tax-years concerning the 58 month period. I've also requested bank statements from HSBC as the account I had during the periods I let the property was closed down. I have tax calculations fro HMRC for two of them and I've...
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    tax on let period during ownership of Property

    Hello, i'm thinking of potentially selling my property but before I commit to the conveyancing process with a buyer I think I may have a retrospective income tax liability as during the last 11 years of ownership I let the property out whilst living at my mum's house for 58 months during 2...
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