d321

I have some btl so will probably get a heap of abuse for this post, but I am completely confused by all the 'tax dodging' people on here seem to think happens. If you have btl's, you are expected to complete a full tax form and keep accounts - it is a form available with the self assessment tax returns. Most landlords only have a couple of flats. Lets say they bought a flat for £100000, 75% loan @ 6% and get £500pcm rent for furnished flat. Income: £6000 Less Interest: £4500 Less 10% Wear/Tear £600 Less Insurance £150 Total: £750 taxable income The real tax liability comes upon selling the property (assuming that there has been a capital gain!), and the government can track these thro the stamp duty forms which are now completed even if the property comes under the stamp duty threshhold. The point I am making is that even if the rent is not declared, the likelyhood of there being an enormous tax bill at the end of the day is pretty low for the majority of landlords. Btw - you are right about Scotland having mandatory registering for landlords, but it is pointless - all you have to do is tick a box to say that your propery meets legislation and then pay £11 per property which registers it for 3 years. The only thing they do check is whether you are a 'fit and proper' person to be a landlord. !?! D

I could be wrong, but I thought they should pass all offers on unless the landlord has stated to them that he will not accept offers below a set limit (which could be the case here)

Did you notify the landlord of the problem?

Tenancy agreements should have a clause that states : no interest will be paid by the landlord to the tenant in respect of the deposit. If that does not exist, in theory, the tenant has claim to the interest and I would have thought the EA/ landlord would have to prove that the deposits are not in an interest bearing account. At the end of the day, it is not a huge sum of money to the tenant, but it all adds up for the EA if they are holding a lot of deposits!

Why does everyone slag off buy to let and then announce that "once the crash comes" they will be the only ones that can let their house and miraculously get a larger one? Surely that is "buy to let" - exactly what seems to get the most abuse from this site?

How to insult all scottish people in a one easy move.? Where are the facts to back that statement up?