An incredibly useful video thank you. One thing to note about the empty unfurnished property council tax exemption, that isnt uniform everywhere, it varies council to council, some offer it some dont.
Came back to leave a review. This video was very helpful in getting me to ask the right question to figure out what to do with my flat owned in my name. I was thinking the only way was to sell but the market is not the best. Luckily I have now worked out a strategy that will allow me to keep and the tax burden won't be as harsh 🎉. Thank you 😊
What about improvements to make property legally safe, eg tenants been there for decades, rewire needed which means new walls, ceilings and related expenses?
It is unlikely you can offset any "improvements" against profits but more likely they can be offset against capital gains tax later on. Improvements are different to like for like replacements for items that have worn out. Whether it is safety related or environment related makes no difference. I cannot imagine anyone would replace worn out 1950s wiring with new 1950s standard wiring. But I can imagine people would replace a combination boiler with a similar combi boiler rather than a heat pump + insulation.
With refinancing, although you can access money from an appreciating property instead of merely selling it. You can only claim relief on financing up to the value of the original capital cost. Any borrowing above that value can't have its interest costs claimed for tax relief. You didn't make that clear.
can we give this guy credit for providing so much value
This is one of the best videos on TH-cam regarding property taxes. Thank you
Agreed!
This is the best most complete video i have seen on landlord tax - the questions asked are bloody perfect too. Great stuff
I am blown away. Such a good comprehensive video. Thank you
Great video, Ahmed! Will share this wth my network as it's very useful...
Fantastically clear and informative video, deserves more likes!
An incredibly useful video thank you. One thing to note about the empty unfurnished property council tax exemption, that isnt uniform everywhere, it varies council to council, some offer it some dont.
You have to consider the recent changes in NI contribution if £12570 is paid to the low income or no income receiving spouse.
Great information! Thank you for uploading this 🎉
Awesome video!! Packed with loads of useful info. You deserve more subs. Keep going bro 👍🏼💪🏻
Came back to leave a review. This video was very helpful in getting me to ask the right question to figure out what to do with my flat owned in my name. I was thinking the only way was to sell but the market is not the best. Luckily I have now worked out a strategy that will allow me to keep and the tax burden won't be as harsh 🎉. Thank you 😊
Great information! Thanks for this!
Really appreciate your content, this video is very helpful, much appreciated‼️❤️
Fantastic content, thank you for sharing 🙌🏼
Thank you , learnt so much.
Superb content really enjoyed the watch. I also love tax scouts online calculator best in the market
Very detailed and informative thanks.
Do you have link for rental tax caculator?
What about improvements to make property legally safe, eg tenants been there for decades, rewire needed which means new walls, ceilings and related expenses?
It is unlikely you can offset any "improvements" against profits but more likely they can be offset against capital gains tax later on. Improvements are different to like for like replacements for items that have worn out. Whether it is safety related or environment related makes no difference. I cannot imagine anyone would replace worn out 1950s wiring with new 1950s standard wiring. But I can imagine people would replace a combination boiler with a similar combi boiler rather than a heat pump + insulation.
Amazing
How depressing I was thinking of renting my flat out now I live in my partners house but it looks like HMRC will benefit more than me.
With refinancing, although you can access money from an appreciating property instead of merely selling it. You can only claim relief on financing up to the value of the original capital cost. Any borrowing above that value can't have its interest costs claimed for tax relief. You didn't make that clear.
Clearly not because the average person won't even be able to afford a mortgage
Why would you not be able to afford a mortgage on an investment property?
2025 ltd co mortgage expense perk has been removed.
No tax on landlords? What a bad idea! These people charge a fortune in rent and should pay proportional tax.
May ALLAH God bless you
Allah is Satan
There's more adds on this video than the actual video
Unfortunately nothing to do with me. It’s whatever TH-cam puts on there