Your Property Network
First Published: February 2024 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
Most landlords and property developers need help with managing their business, and involving their children has a number of potential benefits, both financially and otherwise.
This article looks at how investors can get a tax deduction for employing their children / child in their property business, and how to ensure that this is done lawfully.
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First Published: December 2023 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
It may be the season of goodwill, but that doesn’t mean that the taxman shouldn’t have to chip in his share towards the festive season. Here is a selection box of top tips for ensuring that you have a merry (and tax-efficient) Christmas
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First Published: October 2023 | Available in: Property Articles Your Property Network
By specialist property accountant fytaxadmin
Using a property management company (‘PMC’) to manage their personally-owned property portfolio can offer some landlords a useful tax advantages. Operating the company compliantly is essential however, to prevent being able to challenge the validity of the company.
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First Published: August 2023 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
Most property investors, whether landlords or developers, will need to deal with builders and tradesmen as part of their property business. For many property investors, understanding the norms, or ‘how things should be done’ is a dark art … no one wants to be taken advantage of, but no one wants to be unreasonable either.
This article draws on the experience I have had both as a property investor of 20+ years, and of various clients, and provides some tips as to how renovation and building projects should ideally be managed.
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First Published: April 2023 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
Property fraud is on the increase, and landlords and mortgage-free properties in particular are especially vulnerable – many without even realising it. The consequences of property fraud – given the potential sums involved – can be life-changing. This article highlights a HM Land Registry service that can detect and prevent potential property frauds, and is worth considering for any property owner.
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First Published: January 2023 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
The 2022 Autumn Statement (the ‘Budget’ to you and me) saw income tax allowances and thresholds frozen. This will mean more tax will be paid as people are dragged into higher tax bands as their income rises. What can landlords do to mitigate the impact of this?
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First Published: December 2022 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
Most landlords mortgage their properties, as this allows more properties to be bought. As mortgage rates are rising currently, it makes more financial sense to repay mortgages – but not always, and not for everyone!
Everyone has different financial views, and willingness to take financial risk, and so there is no ‘right or wrong’ to this fundamental question – just things to think about, to make the right decision for you
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First Published: September 2022 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
The economic pointers are signalling a continued rise in the Bank Rate during 2022, perhaps towards the Bank of England’s ‘neutral rate’ of 2.5%, and a recession is also predicted to last until at least 2024.
A key risk facing property investors is the impact of higher interest rates on their business – since finance interest is usually, by far, an investor’s largest expense. Plus, the ability of tenants to pay their rent given the cost of energy currently.
This article considers how property investors can survive these turbulent times…
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First Published: July 2022 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
Most landlords use mortgages to fund their property purchases, allowing a better return on their own cash invested plus more properties to be purchase with the same cash investment.
In turn, mortgage interest is many landlords’ single biggest cost, and so coping with a rising Bank Rate and tightening mortgage market can be a challenge. It is therefore vital that mortgaged portfolio-landlords understand their borrowings in detail, to enable them to understand their borrowings and overall debt position and exposure to rising interest rates.
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First Published: June 2022 | Available in: Property Articles Your Property Network
By specialist property accountant Stephen Fay ACA
From 1 April 2023 the current 19% flat-rate of corporation tax for all companies will be replaced by a new regime with variable rates up to 25% of profits. This article looks at how the new regime works, and what tax-planning can be done now to mitigate some of the impact of the changes.
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