Don’t be a prize plum
Most people would agree that the idea of becoming a property magnet can be an exciting time. Never has the rental market been so vibrant and lucrative. However, when you decide to rent your home, by your own standards even though you may have undertaken all the relevant checks, when you hand over the keys to your tenant you hope that they will look after your property just the way you have- and to be fair some tenants do.
But what happens when things go wrong, the rents stops being paid and there are untold damages to your property?
As a business the cost of an eviction for unpaid rent arrears can have catastrophic consequences on your personal finances and can lead to financial ruin if you are unable to ride it out, let alone mention the untold amounts of emotional stress it takes on your family, personal health and time it takes to repair the damage-
Let’s face it’s every Landlords worse nightmare but if it has gone wrong you don’t have to let it define you!
Don’t be a prize plum!
So when you decide to step into the rental arena make sure you obtain the right advice from the outset and understand the responsibilities on both sides- don’t make the rules up as you go along because this can affect YOUR TAX!
There are specific rules for rental ins and outs and how to recover the unpaid rents when it comes to filing your personal self-assessment tax return to H M Revenue & Customs.
So, if you need some help with your rental portfolio and reclaiming and expenses give me a call to see if I can HELP and assist you getting YOUR LIFE back on track.
Care Planning Consider this:
How would you feel if after all those years of hard work making a great life for yourself and your family the court took control of your finances, if you, lost mental capacity simply because you don’t have the right documents in place?
Planning for your care is a worthwhile investment but when you are taking advice about Care Planning one of the most important questions to ask is how to avoid sideways disinheritance the misdirection of assets.
Avoiding sideways disinheritance
Should you consider leaving your assets to your own family then did you know that, if your children divorce or their relationship breaks down or even if the remarry they can lose out.
There are safeguards that can be put in place but if you are not aware that they exist and plan accordingly the law can direct your assets to someone against your wishes and is something that thousands of people face every year.
Don’t allow that to happen to your children!
Getting your tax sorted so that you can run your business and focus on growth is what Virtual Tax UK specialise in.
If you’d rather do anything than plod through your self-assessment forms or want to make sure your business tax demands don’t leave you open to penalties, you’re in exactly the right place.
What you get when you come to Virtual Tax UK is:
- A thorough understanding of what is required so you don’t get fined.
- A very personal service based on what you need, no matter how much or little support you need in getting your tax sorted out.
- Hands on guidance to get you organized and make your accounts simpler to manage in future.
- Claim what you are entitled to.
Whether you want some help with the basics of Self-Assessment or you have a business that needs to comply with the current legislation you’ll get just what you need. This leaves you free to get on with what you do best – running your business and focusing on growth.
You can be sure that you’ll get a bespoke service that will ensure your financial affairs are in order so that you sleep easy at night. You can find out more about how we can be of assistance by contacting us
Mb: 07801 287 213 or Email: firstname.lastname@example.org or visit our Website: www virtualtaxuk.com
Happy New year from your flexible tax expert!