Advice Clinic – November 2018

Q. Can I gift property to my children as part of my Inheritance Tax planning strategy? A. Inheritance tax planning is a hot topic right now and particularly important for investors who own property as values have increased dramatically over the last couple of decades. Gifting property to children is a useful way to reduce …

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Inherited a property? Here’s what you need to know before renting it out

If you’ve recently inherited a property, you may be considering whether to rent out with a view to receiving a rental income and a real boost to your finances.  All you need to do is find yourself a tenant and watch the cash roll in. Well, as you might expect, it’s not quite that simple! …

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Changes to tax relief for residential landlords

Q. I understand that the second phase of interest relief restrictions has now been introduced. Is there anything I should do to prepare for this?

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My tenant has lost his job and can’t pay the rent. What should I do?

Non-payment of rent is one of the issues that, understandably, landlords worry about most. We have strict procedures in place to minimise any potential losses to landlords, if for example a tenant loses their job and cannot pay the rent. Effective communication lies at the heart of this and usually gives the best outcome, as …

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What allowances are there for refurbishing my London rental property?

We usually recommend landlords review their rental property regularly and consider redecoration or refurbishment according to the rental and the amount of wear and tear.  Sometimes a simple refresh of décor and soft furnishings is enough, but lucrative corporate tenants expect to rent a managed property that is up to date. The days when tenants …

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UK inheritance tax on residential property

As Finance Director, I’m often asked how landlords and property investors are taxed when acquiring UK residential property. This month, I answer your questions about UK inheritance tax changes for non-UK domiciled and offshore companies.

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Changes to mortgage lending for portfolio Buy To Let landlords

This month I share details of the forthcoming changes to mortgage lending for portfolio Buy to Let landlords. Much has been made of the changes to the way buy-to-let mortgage applications are underwritten for landlords. The headlines have been full of woe at the extra workload for brokers and lenders and the likelihood of reduced choice …

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The taxman cometh

‘London landlords are avoiding £200m in tax by not declaring income’ ran some recent headlines after Newham Council said its landlord licensing scheme had found 13,000 landlords had not registered for self assessment. While HMRC disputes the claim, the news story raises an interesting point about tax. This month, I’m discussing how the HMRC net is …

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London property: a foreign investor’s view

Brexit jitters continue to affect the UK property market with a significant dip in the value of the pound and domestic investors holding their breath. This has provided foreign investors and landlords with a golden opportunity, particularly those seeking property in Prime Central as well as Greater London. This month, I look at the opportunities and the …

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Navigating the BTL mortgage market

With significant changes to the buy-to-let mortgage market this year, Vidhur Mehra, Finance Director at Benham and Reeves Residential Lettings looks at how this will affect landlords and property investors, both UK-based and overseas.

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Changes to Inheritance Tax April 2017: what you need to know

With changes to Inheritance Tax coming into effect April 2017, Vidhur Mehra, Finance Director at Benham and Reeves Residential Lettings looks at how this will affect landlords and property investors, both UK-based and overseas.

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Replacement furniture relief – how to claim the new relief which replaces the Wear and Tear Allowance for rental properties

April sees a significant change to the way the taxman treats wear and tear on rental properties. Some of our landlords have been asking us what the new rules will mean for them so we have put together a short guide outlining how the regulations will apply to rental properties.

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