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!
FREEPHONE 0808 108 1545
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
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 but I am completely
in control as I have been doing it for 60 years!
I FIND IT A DODDLE!
I started doing PAYE 60 years ago!
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, I give you back your sealed records, and then 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 pay to HMRC - and how to pay them, or when you can expect a Tax Refund and how much the Tax Refund will be for!
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 2021..... This is a £148,000 increase in 55 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 with 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!
Quite a few years ago my Client bought some old garages for £14000 and when he had to stop being Self-employed because of poor eyesight the land on which his garages stood sold for £190,000 and as the land belonged to him AND his Wife they both paid about £6000 each in Capital Gains Tax and KEPT £178,000.............................
My fees for one two or three properties are usually about £280 that you pay to me per person per year (for each tax return) .... but after tax relief of 20% this would only cost you £224 (£280 - £28 - £28 = £224) and after-tax relief of 40% would only cost you £168. Obviously, if you are quite complicated it can cost more!
There is NO VAT to pay!
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 £12,300 when Capital Gains Tax is applied...... Two owners would get £24,600 TAX-FREE.....
In February 2021 the tax is quite CHEAP too! If you have not used up all your 20% tax band it is only 18% and if you become a 40% taxpayer then it is only 28% - complicated I know BUT it is CHEAPER!
I sort all that out for you!
You will be AMAZED at how low this Tax Bill can be! It can be a REALLY GOOD investment after a few years or so...
You can come to meet me and discuss your situation and 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 your Parents!!!
Quite a few of my Clients started with one property and now have two or three!
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 - ask me about the experience!) 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 1960s) and if a man hadn't have fished her out and rescued her I wouldn'y be here telling you this!
I CAN VISIT YOU IF YOU NEED ME TO !!!!!
RING DAVID 01226 725 925
FREEPHONE 0808 108 1545
THIS IS A REALLY GOOD SERVICE!!!!
I THINK I AM EASY TO TALK TO!
updated by David Adamson himself 21st July 2021 E&OE