Have a place rented out under RAs. Last tenants caused a good bit of hassle with neighbours so moved to get them out. Council were a good help although they must have known they were sending me trouble.
Did they wreck your gaff? How long did it take to get rid of them?
The opposite. Weād decided Ć²n the RAS scheme but nearly everyone is trying to talk me out of it.
Go for it
@anon98850436 did it.
Called his tennants one night and said if they fuck him over he will put a bag of rats down the chimney
He had no recollection of it until the day he got his keys back when the tennant said it to him
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No didnāt wreck it.
I was lucky and they went voluntarily after about two months - council got them a different place and presumably told them they were on their own if they didnāt leave. I think I was very very lucky
Thinking of selling the place. New landlord and tenant laws make being a private landlord less and less appealing.
If they wreck the place do the council not have to fix it?
Is this in relation to your rental property still or just general business query?
If rental then answer is no. Some expenses are excluded. Only 75% of the interest on mortgage is allowed as an expense for example.LPT is not an allowable expense either
If you spend money to improve the property i.e. Capital expenditure ā¦then thatās nothe allowed. So for e.g furniture canāt be written off an expense in one year but wear and tear allowance written off annually
Rental property. The money Im paying a painter/ handyman/cleaner/daft. Ie etc
Hang on. Upgrading the boiler and doing the insulation isnāt acceptable?
Its grand mate.work away
Not sure. Officially no but they need places so might sort out. And they donāt allow you to ask for a deposit.
Pain in the hoop. Lots of expenses are capitalised so over 8 years. Limit on interest too - 75 per cent. Supposed to allow 100 per cent if in RAS for 3 years.
Tempted to get rid of it but if keep it it can be a decent pension.
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Nice work @balbec. Imagine I was allowed to let them live in the standards they get away with in Poland!
Repairs are OK but investments into the property are treated as capital expenditure. So you allow ādepreciationā of the investment over time as an expense. Same way the capital allowances on your van fir work gets tax relief. You donāt get to write off the full value of the van in year oneā¦just 12.5% of it a year or what ever is allowed as an expense.
Your accountant for the business should do that return for you for a couple of hundred quid if you donāt want to chance it yourself
The insulation might be different it could be part of some scheme
Without the massive tax concessions on a monthly basis for investing in the pension. Itās very marginal long term investment.
If you were self employed (like juhy is) you could probably set up a SSAP or some kind of PRSA structure and all the rental income could be tax exempted inside the structure but thatās something that needs expert advice and probably not huge appetite in the banks to lend into these schemes nowadays
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guys, just be aware that @gilgamboa worked in risk in BOI during the Celtic Tiger
his advice here comes with a strong health warning
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And he is unemployable after the vault incident.
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A mate of mine rented to a housing charity on a long lease and they were responsible for repairs
Iād say the money in the vault needed a good laundering after that