RLA Conference – Future Renting Wales

RLA Conference - Future Renting Wales

On Thursday 30 November 2017, between 9am and 4.45pm, we will be exhibiting at the Future Renting Wales Conference at the Jury’s Inn, Cardiff.

Future Renting Wales is a new, national one day conference for the private rented sector. Private renting in Wales is undergoing massive change. Landlord registration and agent and landlord licensing were fully implemented last year, as part of Rent Smart Wales, while the Renting Homes Act will introduce a standard tenancy contract, new safety and minimum property standards for homes over the next few years.

There will be a number of high profile speakers at the event and we have managed to get you a £10 discount (for members and non-members). All you have to do is quote Gwent10 when purchasing your tickets.

To find out more about the speakers, or to buy your tickets, please visit the RLA Wales website.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Gwent Landlord Forum – 28 November 2017

Gwent Landlord Forum

We would like to invite you to join us at our second Landlord Forum of the 2017/18 season taking place on Tuesday 28 November between 6pm and 8pm at the Parkway Hotel in Cwmbran.

As always, our invitation goes out to all who may be interested in attending this FREE event. So if you know someone who is a landlord or thinking about becoming a landlord, please do pass this invitation on to them – we are always happy to welcome new guests.

Speakers

Douglas Haig, Vice Chair of the Residential Landlords Association will be covering:
  • Important changes to watch out for from the latest budget
  • Updates on some big changes in Wales
  • Previewing the RLA Future Renting Conference taking place on 30th November in Cardiff
Leanne Flanagan, Tax Senior at Green & Co Accountants and Tax Advisors will be covering:
  • Relevant financial aspects of the latest Chancellors Budget and its implications for our landlords

Eventbrite - Gwent Landlord Forum

For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.

Would HMRC Consider You a Landlord?

Rented Property

HMRC have released new guidance detailing examples of tax errors that landlords make. It focuses on scenarios where people become landlords but, for various reasons, are unaware of their tax obligations.

Ten common reasons for people becoming ‘unintentional’ landlords have been identified, along with real life examples of each. These include: renting out a house when you move in with a partner, renting out an inherited property, buying a property for a family member at university and renting out the marital home after a divorce.

It’s important for people to be aware that they can still be liable to tax even if they are ‘just covering their costs’. For example, only the interest element of mortgage payments are tax deductible, not the capital repayments.

In accordance with this new guidance HMRC have an ongoing Let Property Campaign under which individuals can declare untaxed rental income.

If you wish to consider your position please do not hesitate to contact Green & Co Accountants and Tax Advisors on 01633 871122 and our tax team can assist you.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Landlord Forum to Share Advice on Fire and Electrical Safety in Wake of Grenfell

Gwent landlord forum

The South Wales Argus cover the new series of our Gwent Landlord Forum.

Fire and electrical safety is to be the subject of the first meeting of the new season of the Gwent Landlord Forum later this month.

The free event, sponsored by Cwmbran-based Rubin Lewis O’Brien and Green & Co Accountants and Tax Advisors, will be held on Tuesday. September 26 at the Parkway Hotel in Llantarnam, Cwmbran.

It will kick off the third year of forums aimed at educating landlords from across Newport and Gwent.

The format will continue on a guest speaker format, with September’s forum covering the tragic events regarding Grenfell Tower.

The speakers, who will be from South Wales Fire and Rescue as well as Electrical Safety’ First, will discuss how landlords can ensure their properties are compliant and safe, as well as what measures need to be implemented if they currently fall foul of regulation.

Ed Gooderham, director of Green & Co Accountants and Tax Advisors, said:

“In the wake of tragic events in London, it is vital that we educate local landlords on the importance of compliance with safety regulations. Our main aim is to provide local landlords with as much information and support as possible, and from feedback we have received from our attendees we know that they really benefit from the events.”

Managing partner at Rubin Lewis O’Brien Sam George said:

 “This is an opportunity to hear from the experts about potential dangers in your properties and ask the all important questions to put your mind at rest. Our continued partnership with Green & Co gives us a wide range of professional expertise and experience to help you with your Buy to Let property portfolios.”

The event will start at 6pm and is due to finish by 8.30pm.

For more information, please contact Rubin Lewis O’Brien or Green & Co.  Alternatively, landlords and those with an interest in the buy-to-let market can follow @GwentLandlord on Twitter.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Gwent Landlord Forum – 26 September 2017

Gwent Landlord Forum

Tuesday 26 September sees the start of our new season of Landlord Forums and we have a full programme of both interesting and relevant speakers presenting to our guests over the months ahead.

Although the day has changed (from a Wednesday to a Tuesday) and it has returned to just Rubin Lewis O’Brien and Green & Co Accountants as your hosts, it is still a 6pm start and still at The Parkway Hotel in Cwmbran.

As always, our invitation goes out to all who may be interested in attending this FREE event. So if you know someone who is a landlord or thinking about becoming a landlord, please do pass this invitation on to them – we are always happy to welcome new guests.

Speakers

Our confirmed speakers for this event are the South Wales Fire and Rescue (Home) team and Electrical Safety First.

Both presentations are extremely relevant in light of the tragic events not so long ago in London.

This is an opportunity to hear from the experts about potential dangers in your properties and ask the all important questions to put your mind at rest.

South Wales Fire and Rescue (Home) team
  • Covering home safety and how to reduce fire related injuries and deaths
  • Demonstration of risk reduction products
  • Fire Safety Legislation in all buildings other than single domestic premises
Electrical Safety First
  • Safety in the home
  • Fires caused by electricity in Wales
  • Horizon scanning (Renting Homes Act and electrical safety)
  • Misuse of electricity by tenants

Eventbrite - Gwent Landlord Forum

For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.

First Welsh Landlord Fined Under Rent Smart

law

A Welsh landlord was the first to be fined last week under the new housing regulations in Wales.

Appearing before magistrates in Newport, charges were brought against him which included failing to register a property of multiple occupancy.  Since November 2016, all landlords must register and declare multiple occupancy properties with Rent Smart Wales, as well as undertaking training to ensure they are aware of their obligations under the legislation covering rental properties.

The property owner in question was fined a total of £4,550 covering numerous offences under the Housing (Wales) Act.  A representative from Rent Smart has called the prosecution a “milestone” and says it sends out a message that non-compliant landlords cannot continue to ignore the regulations without penalty.

Those who haven’t already done so are urged to come forward and register now to avoid falling foul of the law.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Gwent Landlord Forum – 31 May 2017

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2017 is flying by and changes to Landlord regulations seem to be keeping pace. So we would like to invite you to attend the 3rd Gwent Landlord Forum of this year, taking place on Wednesday 31 May between 6pm and 8pm, at The Parkway Hotel and Spa.

As always, our invitation goes out to all who may be interested so if you know someone who is a landlord or thinking about becoming a landlord, please do pass this invitation on to them – we are always happy to welcome new guests.

Speakers

Neil Soundy of Neil Soundy Financial Services Limited will be talking about:

  • Buying via Limited Company/Special Purpose Vehicle (SPV)/Trading Company.
  • Lower rental coverage requirements via Limited Company/SPV.
  • Buying Multi Unit Block or HMO.
  • Basic taxation on Limited Company Buy To Let (BTL)
  • Use of Tenancy in Common on existing personal BTL’s
  • Possibility of transferring existing personal BTL’s to Limited Company.
  • Airbnb for landlords

Daniel Bellis, Policy Officer with the Residential Landlords Association (RLA) will be speaking about:

  • The Renting Homes Act and how they are creating standardised contracts across the rental sector.
  • He will also cover other changes, such as Fit for Human Habitation regulations, changes in abandonment procedure and changes to joint contracts.
  • With over 20 different regulation still to finalise before landlords start using the new system, a lot has already changed since the Act was first passed.

Eventbrite - Gwent Landlord Forum

For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.

Mates Rates – Letting your property at below Market Value

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When you let a property to a third party for a market rent it should be relatively straightforward to calculate your taxable rental income, or loss if applicable. A market rent is that which a landlord can expect to receive in accordance with rents charged for similar properties in the same area. If your rental income exceeds the allowable expenditure incurred the profit will form part of your income and if the allowable expenditure exceeds the income then, assuming you meet all criteria, you will have a loss which you can carry forward and offset against future rental income.

There are some circumstances where a market rent is not charged. For example, a parent may let a property to their child for a lower amount, as parental duty dictates.  In this instance the expenses incurred, such as mortgage interest, landlord insurance, etc., may be greater than the rent received. If this is the case, then the expenses are not sustained wholly and exclusively for business purposes and in strict terms should not be claimed. However the good people at HMRC do allow expenditure to be claimed up to the value of the rent received, therefore resulting in no profit no loss. As a result, however, any actual ‘loss’ will be lost.

Should you have any Landlord tax queries please contact Green & Co on 01633 871122.

Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Gwent Landlord Forum – 29 March 2017

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After our first very successful event of the year held in January, we are now well into 2017 and preparing to welcome our Landlords to our next FREE forum on Wednesday 29th March between 6pm and 8pm at The Parkway Hotel and Spa.

We are continuing to provide a broad range of speakers who can shed a light on important matters which might help you make up your minds as to your future as a property investor. As always, our invitation goes out to all who may be interested so if you know someone who is a landlord or thinking about becoming a landlord, please do pass this invitation on to them – we are always happy to welcome new guests.

Speakers:

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Leanne Flanagan, Tax Senior with Green & Co Accountants will be talking about:

  • The final March Budget taking place on 8 March and how the changes announced will affect you as landlords.

Damian Lines, Head of Wills, Trusts and Probate with Rubin Lewis O’Brien Solicitors will be speaking about:

  • All aspects of Estate Planning as part of the important area of Preparing for the Future.

Stephanie Taylor of HMO Heaven will be covering:

  • Her insider secrets on HMOs. Is now the right time to invest?
  • The 5 easy steps to massively increase the rental income on your buy-to-let properties.
  • Real life case studies demonstrating how you can double your rental income.
  • How to enjoy fantastic property cashflow in Newport without any hassle.

Eventbrite - Gwent Landlord Forum

For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.

Gwent Landlord Forum – 30 November 2016

PFRLOB1503794 - Logo for Eventbrite V6

Rent Smart registration and another Autumn Budget will take place before our next event! We hope you have sorted out the first, but why not come along to The Parkway Hotel and Spa on Wednesday 30th November between 6pm and 8pm to have a breakdown of the Autumn Budget and specifically its impact on you as a Landlord?

If you are a landlord and currently letting properties or thinking about buying to let in South Wales and you have not previously attended, pop this in the diary. If you know someone who is a landlord and might be interested, please do pass this invitation on to them – we are always happy to welcome new guests. 

Speakers include:

Leanne Flanagan – Tax Senior at Green & Co Accountants & Tax Advisors

Leanne has updated our attendees about the tax implications for landlords as a result of the budgets in the past and she will be focusing on the Autumn Budget and any changes for Landlords at this meeting.

David Vieria – Go Commercial Finance Limited

David will be speaking about ‘alternative lending solutions’ for the buy-to-let market.

 

Eventbrite - Gwent Landlord Forum

 

For any enquiries about this event, please contact Katie Williams at Green & Co on 01633 871122, Email: katie@greenandco.com.