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  4. How does limited company tax work?

    Just to add that the income taken from a Ltd company as Dividends or Salary is basically taxed according to the income tax treatment of the recipient. Current 2017-18 rates: Basic Rate tax payer: Dividend: 7.5% (£5000 of dividend is tax free), salary: 20% after the £11,300 single person's allowance Higher Rate tax payer: Dividend: 32.5% (£5000 of dividend is tax free), salary: 40% after the £45,000 high rate tax threshold Values and thresholds are planned to change in 2018-19. See HMRC for details. In all scenarios you will pay less tax taking dividend rather than taking salary. But of course some salary is important to demonstrate you are employed by the Ltd Company. Hope this helps. Regards
  5. Target Rental Profit p/m

    Hi Steve It's most likely that each investor has his/her own target based on their objectives/strategy, but my personal aim is for net yield of 3+% or a ROI of 8+%. Any capital growth is a bonus. Cheers Derek
  6. Investing in Ickenham (off plan)

    Hi Dave It looks nice but not sure how many investors have funds available to support the lowest £1.1m purchase price (stamp duty alone is £86,750 for a non-first time buyer). Having a look on Rightmove, there's two properties already available to rent. Are you sure these are off plan? Link to 2 bed below at £1,900 pcm which if it's at £1.1m only equates to 2% gross yield and less than 1% ROI and that's before taking into account service charges which might be a lot given the amenities like pool and gym. http://www.rightmove.co.uk/s6p/47150550 Based on the limited info available without siging up for the additional docs, seems more suitable for a principle home rather than investment and I personally think that the capital could be invested for better returns elsewhere.
  7. Probate sale with a Freehold/Leasehold issue

    For some reason this post has posted about 5 times sorry.
  8. Top renovations in the UK

    Thanks, Mike, I believe that Harefield Place is one of the best examples I have found, Thanks for your help though! David
  9. Hi, I'm looking for some advice for investing in property in Ickenham. I've come across a development called Harefield Place which I thought looked interesting: http://www.harefieldplace.com/ What do you guys think? It's close to London, good transport links and has a lot of land.
  10. Hi, Just wondering if anyone could give me any pointers / shed some light on a flat which has just became available. The flat is up for sale as a probate sale , it is not up at market yet but I know some of the details as the man was part of our cricket club. What I have been told is the estate agent has came around and valued this ground floor flat at around £100,000, this was before she realised it was a leasehold flat. It is not an external company who owns the freehold, each of the four flats in the block own a quarter each. I am unsure how long is left on the lease though. the flat is in need of a full refurbishment. my questions are: Is this an easier sale than a normal leasehold as I would be gaining a quarter of the freehold during sale? How am I able to find out how long is left on the leasehold for that flat? Is there any issues which I would need to look out for if the number of years left on the lease is lower than expected? Would how many years left on the lease be an issue if needed to extend as with owning a quarter of the freehold the flat you basically own the freehold on the flat in question? I am not so clued up on leasehold /freehold so if any of the above is incorrect please correct me and any information given would be appreciated. Thanks Joe Forrester
  11. Hi, Just wondering if anyone could give me any pointers / shed some light on a flat which has just became available. The flat is up for sale as a probate sale , it is not up at market yet but I know some of the details as the man was part of our cricket club. What I have been told is the estate agent has came around and valued this ground floor flat at around £100,000, this was before she realised it was a leasehold flat. It is not an external company who owns the freehold, each of the four flats in the block own a quarter each. I am unsure how long is left on the lease though. my questions are: Is this an easier sale than a normal leasehold as I would be gaining a quarter of the reehold during sale?
  12. Hi, Just wondering if anyone could give me any pointers / shed some light on a flat which has just became available. The flat is up for sale as a probate sale , it is not up at market yet but I know some of the details as the man was part of our cricket club. What I have been told is the estate agent has came around and valued this ground floor flat at around £100,000, this was before she realised it was a leasehold flat. It is not an external company who owns the freehold, each of the four flats in the block own a quarter each. I am unsure how long is left on the lease though. my questions are: Is this an easier sale than a normal leasehold as I would be gaining a quarter of the reehold during sale?
  13. Hi, Just wondering if anyone could give me any pointers / shed some light on a flat which has just became available. The flat is up for sale as a probate sale , it is not up at market yet but I know some of the details as the man was part of our cricket club. What I have been told is the estate agent has came around and valued this ground floor flat at around £100,000, this was before she realised it was a leasehold flat. It is not an external company who owns the freehold, each of the four flats in the block own a quarter each. I am unsure how long is left on the lease though. my questions are: Is this an easier sale than a normal leasehold as I would be gaining a quarter of the reehold during sale?
  14. HMO First time buy

    Morning Simon, Yes totally........ I understand where you are coming from. I guess its time to change Strategy and go for a single let, just to get that bit of experience. Thanks for the advise Regards, Marcus
  15. Advice on good areas to invest in Manchester

    My advice would be 'take action'.
  16. Hello everyone. I am buying a property in Italy through my UK limited company and I would like to understand what are the tax implications and rules for compliance. I have spoken to both an Italian accountant and a UK accountant and the messages were surprisingly discordant, which worries me (a lot). According to the Italian accountant, the company should pay taxes from the rental income in Italy. Its UK counterpart, however, told me exactly the opposite. A UK company should pay the taxes in the UK and the only additional thing to consider would be the fluctuations in the exchange rates. Is there anyone here that can help me? Also, can you recommend a good UK accountant / tax expert who specializes in Real Estate but can also manage the accounts for my other consultancy business (not property related)? My current one is OK for my consultancy business but not at all property expert, so I am considering moving all my accounts to someone more suitable to my personal needs. Thank you! Best regards, Gian
  17. Hello Guys, I haven’t posted for a while. My property journey has now progressed and we have had an offer accepted on for our first flip. Evans-Houlton Developments was born at the beginning of February:) We are looking to purchase properties to renovate in Chesterfield and Sheffield. Would be very grateful if any can suggest property sources or pass along any leads. Thanks, Ashley
  18. Liverpool networks of investors?

    Hi Shiv, Great plan and one very similar to my own. I also work in London, but am now looking to extend my portfolio into Liverpool. It would be great to exchange ideas. ian
  19. Introduction

    Hi Scott, Welcome to the community. My advise would be to get educated whilst you are saving up for your first investment. There are some great resources available on this website, plus numerous books on property investing. I would highly recommend listening to as many podcast as you have time for. Start with the property hub podcast first. In terms of areas to invest, that will very much depend on what you are looking to achieve. My view is that the North of England is a good area at the moment. If you live in Cumbria, start investigating that area first. Areas around the lakes and where there are great walks (and close to where you live) may be good for serviced accommodation. Around the major towns, Carlisle, Penrith, Whitehaven (areas with good fundamentals) may be good to get a good solid 3 bedroom house where a family could stay long term. Or a HMO may work really well near the major employers, like at Barrow or Sellafield. Dont rush in and spend all your money until you are clear on what you want to do, how much time you want to spend managing your properties and what you want to achieve from investing. More importantly, do take action, getting some knowledge first is certainly taking action. Good luck. Ian
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  21. Interesting point Simon, thanks for your input. For context, he has been living in this house for over 10 years, as far as I'm aware with the same mortgage provider. When he moves I expect it will be a similarly long-term plan, so although there may be one instance of an early repayment I'd expect it will be sandwiched between two periods of holding a mortgage for the long term. My unqualified view is that anyone can find themselves needing to sell up prior to the initial term for a whole host of reasons, so as a one-off I wouldn't logically expect it to have a material impact. However I will bear this in mind and pass it on that there is some possibility of an adverse effect on future mortgagability. One other thought that has just occurred to me - perhaps when he moves he can transfer the mortgage to the new property, thus avoiding the whole issue of early redemption. Of course, dependent on the current lender's willingness to take on the new property, but worth considering.
  22. Hi, I'm after some information on investing in stoke and the surrounding areas. Im thinking of doing a flip over 4 weeks and I believe that property is only going to go up in stoke not down. For a little outlay you can make a half decent return on a flip but I hear more negative than good. Has anybody had experience of this????? If so where to buy and not to buy???? Many thanks Jamie J
  23. Simon, I understand your concern. In this case the client wants to move and downsize. If he were constantly developing and flipping that might be different but there's not going to be a trend here on the face of it. Also, no one can know what's on the hunter database, and no-one who says they have been blacklisted will ever be told by a bank why that decision has been made. My thought would be that there was more to any cases you alude to. Same as when a client casually says they "missed a payment or two once", 99% of the time the credit report reveals a much more severe issue. I would urge caution if this were a strategy for flipping properties quickly using BTL lenders, but to release some money then downsize after 2 years seems perfectly reasonable to me. The bank know they will likely see most 2 year deals repaid at the end of the ERC period, what difference does it make of that's by sale or remortgage?
  24. Sorry Stuart I disagree on part of your post. I regularly speak to prospective new clients who have been blacklisted for using no ERC products and I am aware of one lender who is analysing every case that has been repaid early and looking for trends. Blacklisting is both internal, within a group of lenders or at worse listed on Hunters.
  25. HMO First time buy

    Hi Marcus You can delegate to a lettings agent but it is you that is still fully responsible for everything. How do you know the letting agent is doing the right job for you? I don't mean to be hard but the way lenders look at it is that you need to have the experience and not somebody else.
  26. Target Rental Profit p/m

    Evening all, Just a quick one, what percentage of your monthly rent do you expect to be profit after all expenses. Expenses being: Interest only mortgage payment Management fees Repairs contingency Void periods Buildings insurance Thanks in advance, Steve
  27. Hi All, Does anyone have a spreadsheet they'd be willing to share that takes into account the new s24 tax requirements?. I'm a basic rate tax payer with one btl and a little confused how to lay it out including allowable expenses. Happy to have a go myself if you can only share tips/advice thanks
  28. Just wondering if anyone on here owns their own property flipping company? Im in the process of starting my own ltd company & have a few questions. Cheers
  29. This week, we tap into Rob D’s ridiculously vast knowledge of short-term finance. What exactly is bridging? What is it useful for? What are the costs? The risks? And most importantly, should you be using this tool to help you on your journey? Listen in full here. DOWNLOAD YOUR FREE SHORT-TERM FINANCE CASE STUDIES HERE!
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