Category Archives: Legal documents

Buying a property at auction?

Business structure, Commercial property, Landlords & tenants, Legal documents, Professional services, Property Auctions, Rental accounts, Self Assessment & Tax Returns, Tax filing dead lines, , , , , , , , ,

 

 

Buying a property at auction can be a great way of bagging a bargain, however, you will need to make sure your funds are ready to hand over should you be lucky enough to find a property you like.

Here are a few things to think about before you proceed:

Make sure your solicitor knows about their subject and is working in your best interest.

Make sure that there is no debt attached to the property as there are tax consequences to you if there is.Property-Auction-

Make sure you do the maths in terms of the work that is required to bring it up to standard actually warrants the investment.

If you need someone on side to make sure the numbers work or ask questions you have may not have thought about which may have a direct impact on your money, contact Jane on 07801 287 213 or book a meeting at a time that’s mutually beneficial.

Contact Number: 07801 287 213

Email: info@virtualtaxuk.com

LANDLORDS – WHO IS LIVING IN YOUR PROPERTY!!!

Care Benefits, Disabled or disability allowances, Landlords & Rental Income, Landlords & tenants, Legal documents, Mental Capacity Act, Paying for Care, Planning for Care, Professional services, Residential & Nursing Care, , , , ,

 

LANDLORDS – WHO IS LIVING IN YOUR PROPERTY!!!

Make sure you know who is living in your property because if you don’t you could be in for a nasty surprise.

If you rent a property to a tenant and find out that they have registered themselves disabled and not told you- what do you do?

Well, what you need to know is when or should a “carer” move in to your property without your consent or knowledge which is quite possible in today’s society, the “Carer” becomes what is known as “A Licence of tenancy only”, meaning that the carer is the Licensee of your tenant.

tenancy_agreement_large- Image

Whilst they may enjoy similar status they have different rights.

You need to consider if your property lends itself to the system in terms of installing care aids as not all properties lend themselves to such.

Whilst initially you may have no objection to a tenant who has engaged the services of a “Carer” in the first instance you might want to keep an eye on the situation and put a formal letter in place as to your wishes, especially if a third party has been given a key to your property without your written consent or prior knowledge or alternatively seek legal advice.

While it remains one thing for a genuine tenant to require the needs of a carer make it quite clear in a letter to your tenant that they are there only on the basis of “Licensee of Tenancy only” and that they are only there to supply the services of care to your Tenant. You have no interest or intention of granting them a tenancy. Basically in essence this means that should anything happen to your tenant the carer’s will have not  be able to live in your property.

As a landlord you have a right to know who is living in your property and on that basis may wish to see the value in obtaining the full details of the carer and their qualifications.

Care, at this time is an unregulated industry, however, as legitimate carer would have the following qualifications as listed below:

  1. Person Centred Care.
  2. Has been CRB checked by the Care company
  3. First Aid
  4. Manual Handling (depending on the severity of the needs of tenant)
  5. Effective Administering of Medication.
  6. To be able to read and write to a good standard.
  7. Keep a good record of events.
  8. Finally, make sure that you never take money from the carer.

If you are not sure if you have a potential problem feel free to email us on Email: info@virtualtaxuk.com or Call on 07801 287 213

Landlords: Finding out that your tenants has a carer

Accountant, Landlords & Rental Income, Landlords & tenants, Legal documents, Mental Capacity Act, Rental accounts, , , , , , , ,

What can you do if you find out that your tenant has registered themselves disabled and not told you as the Landlord and you also find out that they have engaged the services of a carer and she is living in your property?

Well, what you need to know is when or should a carer move in to your property without your consent or knowledge which is quite possible in today’s society she/ he becomes what is known as “A Licence of tenancy only”, meaning that the carer is the Licensee of your tenant.

Whilst they may enjoy similar status in terms of living in your property they have different rights.

Also if may be worth checking that your tenant has aquired and errected any care aids in your property without your consent as not all properties lend themselves to such.

Whilst initially you may have no objection to a tenant who has engaged the services of a carer you might want to keep an eye on the situation and put a formal letter in place as to your wishes, especially if a third party has been given a key to your property without your written consent or knowledge.

While it remains one thing for a tenant to require the needs of a carer make it quite clear in a letter to your tenant that they are there only on the basis of Liscency of tenancy only and that they are only there to supply the services of care  to your tennant . You have no interest or intention of granting them a tenancy.

Basically in essence this means that should anything happen to your tenant the carer’s will have not  be able to live in your property.

As a lanlord you have a right to know who is living in your property and on that basis may wish to see the value in obtaining the  full details of the carer and their qualifications .

Care covers a multitude of plateforms and if the carer is a legitament carer they would have the following qualifications.

Person centered care, first aid, manual handling ( depending on the severity of the needs of tenant) qualified in administering medication, be able to read and write to a good standard.

Also make sure that you never take money from the carer.

Tax Tips Renting out your own car space- taxable or non taxable?

Accountant, Book kepping, Business structure, H M Revenue & Customs, Legal documents, Professional services, Rental accounts, Self Assessment & Tax Returns, Self Assessment-uk, Self employed, Taxation & Self Employment, UK Tax Self Assessment, Uncategorized, Who needs to file a Self Assessment Tax Return?, , , , , , ,

TAX TIPs

How many of you who have rented out your own car park space knew the consequences?

Did you know that renting out your own car space and receiving income from that source is deemed as taxable income, even if that means that by doing so you have to rent a space yourself.

Renting out your own car park space on your own driveway means you are responsible for declaring that income on your own personal self assessment tax return when you file it to  H M Revenue and Customs. The entries should be made on the Land & Property pages

Remember to consider that should you enter into this type of arrangement make sure you prepare a contract and include a break clause in case the situation changes.

LPA’S Lasting Power of Attorney

Business start ups and advice, Legal documents, Mental Capacity Act, Professional services, Self employed, , , ,

Lasting power of Attorneys is a legal document which allows the person ( the Doner) who may in the future lose “mental capacity“to make decisions for themsleves.

The Doner appoints an Attorney ( someone they trust ) to make decisions on their behalf.

The benefit of making both Lpa’s is really about making an advanced decision and making sure your affairs both in terms of finance and health & wealfare are taken care of why you are in a position to state your wishes and appoint someone you trust should something happen beyond, your control.

For further information on how we can help you contact Jane Cooper 07801 287 213.