A busy 2017 for the buy to let market saw many lenders, advisers, and their clients adapting to changes in tax relief and the PRA changes on lending to portfolio landlords. This meant staying on top of the latest news and talking to clients about how this might affect their financial plans.
In December 2017 the government announced that it would proceed with extending mandatory property licensing of houses in multiple occupations (HMOs). On 23 January 2018, Housing Minister, Dominic Raab, stated that, subject to Parliamentary approval, the necessary regulations would be brought into force in October 2018.
At what age do you realise the significance of having a good credit score is it in your 20’s, 30’s or not until your 40’s and 50’s. Late payments, credit card debt, not on the electoral role, court judgments are just a few factors that will contribute to your credit score. It might not feel relevant in your 20’s or until you decided you would like to apply for a credit card or its time to get on the property ladder. Below are some useful links to check your current credit rating, each company have their own methods of issuing a credit score the correction of a simple spelling error on your address could improve your overall score so if you have never checked it give it a go.
Limited space available for our Property and Tax Seminar on Thursday 30th March 2017.
There are still a few spaces available for our seminar which will be taking place at the Abbey Hill Golf Club in Milton Keynes on the 30th March – so if you are interested in how the recent tax changes will affect your property and would like to hear our guest speakers Dan Morris from Crystal Specialist Finance and Mark Stephenson from Castle Trust further educate us then please email email@example.com or call 1st Financial Foundations on 01908 523 420 for further information.
Venue: Abbey Hill Golf Club Address:Abbey Hill, Monks Way, Two Mile Ash, Milton Keynes MK8 8AA Date: Thursday 30th March Time: Arrival 9.30am for 10am start -12 midday finish Speakers: Dan Morris, Mark Stephenson and Yash Tosar
We at 1st Financial Foundations are always looking to update our clients on how to be tax efficient. This is a great article by Alan Pink who offers a helpful list of tax issues to consider when purchasing a property.
It’s generally recognised that buying a property comes somewhere on the list of highly stressful activities, along with divorce, Christmas, and filling in a VAT return. But the stress involved with arranging finance, chasing your solicitor, chasing your vendor, and wading through reams of ‘searches’ and so on, shouldn’t deflect your mind from considering the potentially very important tax aspects surrounding acquisition of a property.
So, here’s a check list, which hopefully will get you at least asking the right questions, from a tax planning point of view, when approaching a property purchase.