Blueprint hidden bookcase door plans9/16/2023 ![]() ![]() ![]() However that so-called “loophole” was closed, I think by Gordon Brown’s Government in their Finance Act 2004, meaning that ever since then a transfer of your own property to your own company is now treated as a “disposal”, i.e. Firstly you have to ask what “becoming a business” actually means… does it mean incorporating an existing “partnership” into a “limited company” or starting a new limited company (usually by just buying a readymade one “off the shelf”) and selling your existing properties to it? Long ago, provided that you owned all the shares in the company, you could simply transfer a property to it tax free – just like you still can between spouses provided the property is “unencumbered”, i.e. Take for example his post on this page at 10:50am where he says: “The biggest impact on Landlords at the moment is S24 (already implemented- but can be side-stepped by becoming a business).” Ignoring the question of whether or not s24 actually has had the “biggest impact on Landlords” (it has for some, for others its just one of so many extremely adverse and counter productive measures) let’s look at his ridiculously naïve belief that it “.can be side-stepped by becoming a business…”…!!! I’m willing to bet he has never tried that himself! If he had he’d be a wiser and less arrogant know-it-all of a property Viking. of course everyone does their best to ignore this annoying little terrier, trying to take-on and defeat their ankles, but its owner feels the need to apologise and say “he’s not *usually* like this” even though, actually, he is but not usually quite so blatantly as today… maybe this fine summer weather brings out the friskiness in him? All these smug, glib, over simplistic and of course ill-informed comments from thinking he can take a pop at people and outsmart them, even though – unlike him - they actually *know* what they’re talking about. Gosh, to my mind this Kristjan Byfield (the self-styled 'property viking' with a lower-case “v” apparently) is a tiresome fool! Like some extra-annoying little terrier, rushing around growling (with its pipsqueak little growl) and snapping at everything because it's insecure and also craves attention and “validation”…. Add in now that savings rates are comparable with a lot of the gross yields.why would anyone be a landlord? ![]() There are tonnes more issues that I can't be bothered to list and they're all big risks. There isn't a good enough return now and capital growth isn't going to happen for a long time. There really isn't any good news for landlords. The more you 'professionalise' the industry the more tenants will be paying for that free work. Overall, private landlords get paid a yield on their asset but essentially 'work for free' when it comes to management time and effort. It'll also increase the likelihood of someone just using you for a short term let, costing you money in voids. Add in a letting agent, you're reducing your gross yield by 10% The RRB is only going to increase the likelihood of a tenant not paying rent and not leaving your property. Add in s24, and you're making a loss in personal name. The issue with all of these points is everything costs money and this is at a time when interest rates are higher than a lot of the yields that people achieve. The proposed legislation – part of the government’s pledge to achieve Net Zero by 2050 - will lift the minimum Energy Performance Certificate rating for all homes in the PRS from the current level of ‘E’ to ‘C’. New Minimum Energy Efficiency Standard regulations are likely to become law in the near future, although the government has not yet given a firm date when the new rules will come into force. ![]() The agents have the managerial expertise to get optimal return from their landlords’ valuable assets, protect them from the penalties of non-compliance and ensure their tenants have a great rental experience.”Ĭobbold adds that there’s more change on the horizon, aside from the controversial Renters Reform Bill. “Those landlords currently self-managing will find that professional letting agents and landlords make a perfect match. But landlords who may not have the time to invest in adapting to these changes, or the capital to ensure their properties are up to standard, may be looking to sell. “Property ownership will continue to be a sound investment for the vast majority of landlords who provide safe, secure and compliant homes. But the volume of upcoming changes means there has never been a better time for small-scale landlords to seek out partnerships to help them navigate the new landscape. Cobbold continues: “Increasing regulation in the PRS is nothing new indeed, many of these reforms in England have already been seen in Scotland and did not result in a collapse of the private rented sector. ![]()
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