What you need to know about the new energy efficiency laws for your rental property

Daniel LeesLandlord lawLeave a Comment

This winter’s “beasts from the east” that covered London in up to 10cm of snow are over, but from this month new rules ban landlords from allowing tenants to shiver in the draughtiest homes. Here’s what you need to know about the new minimum energy efficiency standards (MEES). What are the new rules? Every property let to private tenants in … Read More

How to choose an online lettings agent

Daniel LeesLettingsLeave a Comment

If you self-manage your rental property, you can use the new generation of online lettings agents to advertise your property. They can, however, take care of a whole lot more: some offer full management at a mere 3% of your rent. Tempted? Though there are brands with excellent reviews (Upad.co.uk and OpenRent.co.uk and well-funded players (easyProperty.com and Purplebricks.com), there are also … Read More

Do you really need a lettings agent?

Daniel LeesLettingsLeave a Comment

To manage or not to manage, that is the question. Do you let and manage your rental property yourself – there are plenty of new online services that can help – or use an agent? And how on earth do you find a good one? There are lots of scary stories of agents who take your money but do a … Read More

Rent-a- room Scheme: Save tax on letting to a lodger

Daniel LeesTaxLeave a Comment

Under the Rent-a-room Scheme, you can earn up to £7,500 a year tax free if you let out a furnished room, or even a whole floor (but not a separate flat), in your home to a lodger. ‘Woohoo,’ you may say. Yes, but there are a few things to watch out for to keep woohoo from turning into whoops: If … Read More

Buy-to-let tax guide: The lowdown for landlords living abroad

Daniel LeesTaxLeave a Comment

If you live overseas for six months or more while renting out a UK home, HMRC classes you as a ‘non-resident landlord’. You have to pay income tax in one of two ways. You either receive your rent in full and pay tax through self-assessment – to do this, you have to apply for approval from HMRC (gov.uk/tax-uk- income-live- abroad/rent) … Read More

Buy-to-let tax guide: How to cut capital gains tax when you sell

Daniel LeesTaxLeave a Comment

Capital gains tax (CGT) is only due when you sell your rental property. You pay this on the difference between the prices you bought and sold for, minus any expenses. Deductible expenses You can deduct the following from your capital gain: Buying costs. Remember that solicitor’s bill you’ve kept for 20 years? Now you can deduct all your capital expenses: … Read More

Buy-to-let tax guide: Five simple ways to be tax efficient

Daniel LeesTaxLeave a Comment

When it comes to buy-to-let income, there are simpler ways than setting up a company to be tax efficient: If you are married, make sure the lower earner owns the rental property – or most of it – to benefit from a lower tax band. You can transfer property between spouses through a simple legal process, without paying any tax. Profit … Read More