Making Tax Digital – HMRC’s second attempt

Originally planned for April 2023, this was put on hold as neither HMRC nor the software vendors were adequately prepared and ready for it. Many questions on the practical implementation could not be answered.  However, it is now a certainty and will be introduced and in a somewhat scaled-back and reduced manner. Also, it will […]

Joint Ventures

So you want to joint venture (JV)? This is a very complex area of business and books have been written on it. While it has many advantages, it is also can have some very serious disadvantages. This blog is by no means complete and there is lots more to be said. However, we regularly come […]

Directors loan accounts

There are 2 ways to fund your shiny, brand new company: Share capital, & Loans of some time As the company usually lacks a track record, securing a bank or other 3rd party loan is often bordering on the impossible. It is this up to the director to fund the company via his/her personal financial […]

Company Basics 101

There is a lot of confusion and misunderstanding about companies. This aims to clear up a lot of that and explain what you need to know about a company if you have never owned one before. Name A lot of people get excited about the name – and I appreciate there is excitement with your […]

All about accountants

Can I have more than one accountant? We get asked this often! Typically a self-employed person already has an accountant that they know, like and trust looking after their affairs – but they get uneasy every time they ask their existing accountant a property question. The accountant needs to look up the answer or isn’t […]

When to set up a company?

There is a lot of confusion and misinformation about this! A lot of people want to take action and get everything ready ahead of time. While there is nothing wrong with this, talking to an accountant and having a plan in place to form a company is really all the action that you should be […]

Interest only vs capital repayment mortgages

Like all blog posts, this is just my thoughts, philosophy and opinion. It is not financial advice. It is also long as there is lots to consider and lots of different strategies and angles. Most investors use interest only mortgages because everybody else is – without really understanding the implications or why they are doing […]

Do I need a company?

There is a lot of confusion and misinformation about this! Our first suggestion is to talk to a good mortgage broker. Depending on your circumstances, you may not be able to get a mortgage in a company and thus you will have no choice but to invest in your own name initially. This can make […]

The property stuff you don’t often hear about

I have been through various stages – my Rockefeller stage, my Superman stage, my bungalow stage, my auction stage, etc. I have purchased a lot from various auction houses (including properties I hadn’t seen which is not recommended), dealing direct with the vendor, via estate agents and once via intestate sealed bids. I have purchased […]

Selling a property as individuals on the open market: Capital Gains Tax

From 6 April 2020 HMRC has amended the laws around Capital Gains Tax. This only applies to individuals and not companies! From 6 April 2020 where you sell a property you are required to, within 30 days of completion, report and pay any Capital Gains Tax. This deadline is unbelievably tight and almost impossible unless […]