So, you’ve bought a rental property and once extensive repairs have been carried out to bring the property to a habitable state, you assume that you can offset said expenditure against your rents, thus receiving income tax relief? You may be shocked to learn that this tax treatment could in fact be wrong! If a … Continue reading Relief for Rental Property Repairs
We are pleased to announce that our next FREE Gwent Landlord Forum is taking place on Wednesday 13th July between 6 and 8pm at The Parkway Hotel and Spa, Cwmbran. 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 … Continue reading Gwent Landlord Forum – 13 July 2016
We're excited to announce that our next Gwent Landlord Forum is taking place on Wednesday 25th May between 6 and 8pm at The Parkway Hotel and Spa. Speakers will include: Bethan Jones, Rent Smart Wales - All landlords operating in Wales must register themselves and all details of their rental properties with Rent Smart Wales before 23 … Continue reading Gwent Landlord Forum
If you own a house that you do not live in, you may be regarded as a landlord for the purposes of the Housing (Wales) Act 2014. In that case, you have until November 2016 to formally register as a landlord and depending on the management of that property, you may also need to become … Continue reading Landlord Registration In Wales
It is a time of change for Landlords who are facing not one, but two big changes this April and another fundamental change from 2017/18. Here is a recap of these changes: Wear and Tear Allowance From 6 April 2016 Wear and Tear Allowance for furnished lettings will be no more. Instead, Landlords of … Continue reading Tax & The Landlord: Upcoming Changes
In the budget last Summer, The Chancellor announced that landlords will no longer be able to deduct 100% of their mortgage or loan interest costs from their rental income to calculate assessable profit. Instead they will be able to claim the interest amount as a basic rate reduction from their tax liability. This means that … Continue reading Changes To Interest Relief For Landlords
Following an announcement by the Welsh Government, all landlords operating in Wales must register themselves and all details of their rental properties with Rent Smart Wales before 23 November 2016. This legal regime will replace the existing voluntary ‘Landlord Accreditation Wales’ scheme which is operated by Cardiff Council on behalf of all local authorities in … Continue reading All Landlords to Register with Rent Smart Wales before 23 November 2016!
From 1 February 2016, all landlords, including those renting a room to a lodger, have to ensure their tenants have a legal right to live in the UK. The Code of Practice indicates that landlords should check the validity of their tenant’s documents in their physical presence, or via a live video link. However, the … Continue reading Have You Completed A Check On Your Tenant?
If you rent out a furnished property then you may be entitled to claim wear and tear allowance, which is deducted from your net rents, thus reducing the taxable rental income. Capital allowances are typically claimed on plant and machinery but cannot be claimed on furniture, furnishings or fixtures within a rental property. Instead, where these are supplied … Continue reading Are you claiming for wear and tear?