Recent content by Touronaut

  1. T

    Accountant Needed. LTD Returns.

    Accountant Needed. LTD Returns. One employee Book Keeper does the VAT returns. I need company filings and monthly furlough for one individual. I am with a accountancy firm at the moment, but they are greedy.
  2. T

    Can a director be self employed?

    Hi Guys I want to make a family member a director of my company. However, I would like him to work and pay him as self employed. Is this possible? Thanks
  3. T

    Property Tax Question

    I would have been taxed on the rental income anyway. What happens to the capital gains was more my question. I took the money while it was on the table but would have been taxed in the end when there was nothing there.
  4. T

    Property Tax Question

    LOL now there's a good point! What if the rent over 10 years has covered the £300K
  5. T

    Property Tax Question

    This is just a question and not an actual circumstance. Lets say I buy 10 rental properties at £50K each. In 5 years time and with a hell of a bit of luck the houses are worth £100k each. I then decide to remortgage the properties on buy to lets at 80% LTV, which gives me a total of £300k. I...
  6. T

    Property & limited company

    Hi Guys Hope you can help. Just trying to get my head round how to go about my business before I employ the services of an accountant. ( I am in the market for one by the way ). Accountants I have used in the past tend to detach themselves from giving business advice. I'll try keep it simple...
  7. T

    Art Broker To Gallery Consignment Agreement

    I have been working on some agreements between my new company, which is set up to promote artists, and various galleries. These galleries will be taking custody of artwork on a sale or return basis. I am looking for anyone who could proof read these and give opinion. There are two contracts of...
  8. T

    VAT on Art Sales

    Hi guys I hope you can help.. I have joined forces with an artist, the agreement is I pay the artist £500 I then give the artwork to a gallery for £2000 sale or return. The gallery will then sell on the artwork for £4000 and then my £1500 profit is shared between the artist & myself. This means...
  9. T

    Rental tax question!

    Yeh, I get where your coming from, but even the banks are not safe anymore. I am only 44 years of age and the usual cycle after a housing price collapse is 18 years then they increase again. Land and property seems solid compared to risking the Cyprus Syndrome! No matter what the prices do, when...
  10. T

    Create Letting Agency To Reduce Rental Tax?

    It is what I thought. I was just scouting around hoping someone new of a way. It wouldnt feel as bad paying tax if the government used it for prosperity and not to take us to war.
  11. T

    Create Letting Agency To Reduce Rental Tax?

    Yes I feared they may be rules and I do not want to break any. Everything has to be within the law. I know what you mean about robbing peter to pay paul, but I can offset many more things with the agency than I can with the simple allowable deductions for the rental. With the agency I can...
  12. T

    Dissapearing Bad Debtor

    You are allowed to film or record someone as long as you are in the film yourself or one of the filmed gives consent. If one willing party is involved then this is within the law. What you are not allowed to do is film others without one of the filmed having given consent. If you are filming...
  13. T

    Dissapearing Bad Debtor

    Its not entrapment and the quote does not have to be fake. Just to get them in the in the same spot at the same time, working together is enough to prove a case against both as a partnership. My friend is a bailiff and they do this all the time. My mate uses the term "Its hard to chase a cunning...
  14. T

    Create Letting Agency To Reduce Rental Tax?

    If I created a letting agency to let out properties, including my own. I charged myself the usual 10% fee like letting agents do. This would leave my total rental income 10% less for taxation at the end of the year. As a letting agent I would simply be charging for a service as in a normal...
  15. T

    Allowable expenses question.

    OK, thanks. It seems the money is lost forever as the property will not be sold in my lifetime. And to top it off my son will be hit over the head with an inheritance tax.
See more
Top Bottom
Community
Articles
Menu