House Property Letting Barnsley & Surrounding Districts
For All Tax Payers, Parents, Grandparents Everywhere
You will LOVE this service!
Just what you want and NOTHING you don't!
PROPERTY RENTING OUT BUY-TO-LET
FREE ADVICE & FREE SERVICE
I AM RENTING OUT MY PROPERTY AND HAVEN'T FILLED IN A SELF-ASSESSMENT TAX RETURN FORM?
IF YOU GET A PENSION ?.....
MAYBE YOU ARE SELF-EMPLOYED ?.....
HAVE GOT A PAYE JOB ?......
GET SAVINGS INCOME ?.....
HAVE INVESTMENTS ?.....
GET DIVIDENDS ?.....
GET HOUSE RENTAL INCOME?.....
YOU INVEST IN BUY TO LET ?.....
YOU RENT A ROOM ?.....
You will get all sorts of Coding "rubbish"from the Tax Man which is near impossible to follow for most people.....
I FIND IT A DODDLE!
I have been dealing with PAYE since 1960 = some 60 years!
I AM IN COMPLETE CONTROL.....
(Not the tax man).....
Give me a try and I will impress you because I need new Clients in and around the Barnsley area and I will want you to keep coming back to me every year.....
I look through all your Coding Notices etc but these are usually wrong! I add up all your Pensions Incomes Savings Dividends Investments & Property Profits etc and work out what your total income is for the tax year. I then deduct your tax free allowances and work out how much tax you owe. Then I deduct any tax you have paid on account.
The result is how much you still owe or if you are due to a Tax Refund and I tell you how much to pay and when to pay and how to pay (or I get the Tax Refund sent to you) (or I can get the Tax Refund sent to me, I can deduct my fees, and pay you the balance, by cheque or cash).
We discuss it face to face, you pay me, and only then do I submit your Tax Return(s) Online, and send you a copy of your Tax Calculation and my first class letter telling you what to do and when!
This works REALLY well and I think everyone is impressed by how much I am in control of the situation.
Quite often a Husband & Wife decide to rent out their house and buy a different one to live in. Sometimes a Wife has her Mum's house left to her and she decides to rent it out. Sometimes two people fall in love and get married and live in the Husband's house and the new Wife rents out the house that she used to live in!
With interest rates at only say 1% it can pay to do this because after receiving the Rent and paying out for Insurance Agents Interest Repairs etc you can make a healthy additional income - AND the price of the house can go up in value as much as 3% per year - sometimes the value stays the same for ages and then suddenly jumps up in price!
My Mum sold her house in 1966 for £2000 and the identical house next door is being sold for £150,000 in 2020..... This is a £148,000 increase in 54 years which works out that the house has gone UP in value EVERY year by £2740.
Quite a few years ago a Friend of mine said he was fed up of savings interest being so low and he was going to buy a house in Ravensthorpe for £30,000. He rented it out for three years! Then he told me he was selling it because the house was still only worth £30,000.
Then two years later I rang to tell him that the house next door to the one he sold for £30,000 was for sale for £78,000. He couldn't believe it. That is what happens. Ask your Mum or Dad!
My fees for one two or three properties are usually about £270 per person per year for each tax return..... but after tax relief of 20% it would only cost you £216 and after tax relief of 40% it would only cost you £162. Obviously if you are quite complicated it can cost more!
For instance if you haven't been telling the Tax Man that you have been renting out for several years and he catches you he can charge you lots of penalties and interest on top of any tax you owe!
Does a loss-making Rental Property need to be declared to HMRC? The answer is no, not really, but if you were genuinely making a loss you then cannot offset the loss against future profits! AND the Tax Man could make you prove your losses! So it does pay to send in a Tax Return EVERY year!
I should say that there ARE other ways of splitting the share of houses either individually or jointly owned but they are usually complicated and can be expensive to execute!
The BEST thing is that when you sell the house you can get a TAX FREE ALLOWANCE of about £12,000 when Capital Gains Tax is applied...... Two owners would get £24,000 TAX FREE..... Ask!
I sort all that out for you!
You will be AMAZED how low this Tax Bill can be! It can be a REALLY GOOD investment after a few years or so.....
When you come to meet me and discuss your situation it will cost you NOTHING and you can stay as long as you need to!
I will give you a LIST of the things you need to bring me.....
It is amazing how little most people have to pay and what a GOOD investment this can be. For several years the property seems to stay at the same value, almost stagnating, and then suddenly, for no clear reason, the values just go up and up and up! Ask you Parents!!!
Quite a few of my Clients started with one property and now have several!
AIRBNB is a Rent A Room Scheme where you can let a Room in your Home for say £40 per night B&B (I have stayed in one for three nights!) and you earn say £7500 tax free from April 2016) BUT I THINK IT IS VERY DANGEROUS!!!!!!!
My Mother was born at 5 Park Avenue Millhouses Darfield Barnsley in 1910. When she was two years old she fell into the River Dearne (the river used to be next to the main Doncaster Road - the river was moved away from the road due to flooding in the 1960's) and if a man hadn't have fished her out and rescued her I WOULDN'T BE HERE NOW TELLING YOU THIS!
I CAN VISIT YOU IF YOU NEED ME TO !!!!!
RING DAVID 01226 725 925
THIS IS A REALLY GOOD SERVICE!!!!
updated by David Adamson himself 23rd June 2020 E&OE