If i have rental properties and have a interest only mortgage on one of them can i deduct the interest off my rental income

Hi Kimberly, interesting video (as usual). What about a garage that is remote from the property and is sold separately? Thanks.

Quite useful content 👍

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Hi, great video. can council tax be claimed on a HMO if it is paid by the landlord through via a limited company ownership?

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Thanks for the tips. What are the tax implications if I am leasing my Business property, (Hotel )what are the rules on my income from that property?

Thank you so much, this is a great video. I have liked and subscribed as I think you've just saved me thousands!! I've been completing my tax return on my BTL property for 3 years now and after the section 24 change I had foolishly assumed all mortgage interest could not be expensed (let's blame the media for that one haha). I've just completed this years return and filed it with both this years mortgage interest and last years. Unfortunately I can't find my mortgage statement for 2021/22 year so not confident to put that amount on as well. Could I still deduct that in the 24/25 return if I get hold of it by then? Or is there a time limit?

hi i have just filled out the tax return and am a bit worried that i have done it wrong now. Please can you advise. I have put all other expenses in the right places but then got to the 'Residential property finance costs' part and i put in there the cost of the interest only mortgage payments. Is this correct and will HMRC calc it all for me? or have i done it wrong? TIA

Question here: let's say you work as an employee but you are also a sole trader. Your overall income of both of them combined is obviously taxed. Let's say your overall income is 50k of which you are taxed around 20%. Now that's around 10k in tax. Let's say I bought various pieces of equipment which qualify for AIA, worth a total of 10k. Does that mean that after the tax year I will be refunded 10k? --------------------------- On the same note, if the equipment I bought exceeds 10k, let's say 15k, would I still get back the full 15k or just 10k? Would love to get an explanation cuz it all sounds a little vague and too good to be true.

Just realised you have one video on selling company property.

excellent videos and very useful info,Please suggest any solicitor or contact details

What an excellent video! Thank you Kimberly for breaking this down. I learnt a great deal from your illustration.

Hi, can I add my son as a shareholder to a ltd that has a blt on a mortgage?

yes, please can we review the situation where the house costs 700k - 1m, and some savings and securities, for a widow or widower who inherited eveything from the late spouse. many thanks.

With FRS105 do I depriciate the value of the building?

Hello Kimberley. Thank you for such good podcast. Just wondered, in your example, where the figure 270 come from in the calculation of CGT of the property. Thank you.

Thanks Kimberly can you recommend solicitors that have experience with this? Having trouble finding one

Hi Kimberly, If my spouse and I transfer our property into a limited company to rent it out (currently, we are living in it as a residential property), will we pay less stamp duty on a future purchase?

In the UK I don't care. Every penny I can spare is in UK legal tender Gold coins. They are exempt of all UK taxes..

Thanks Kimberly having to do this now as we are in the process of buying a house and the government surcharge SDT increase means a extra £7k that we dont have the cash for. We will now sell our cheaper property into a limited company at the same time as completing the new purchase.

Planning to start a limited company for btl, can you claim allowable expenses straight away after set up before moving btl properties over to the ltd comp?

We sold our main residence back in 2020 and moved into rental, but also own a property we rent to students. After nearly 5 years of searching for a home for ourselves we finely had an offer accepted a few weeks ago. However, just found out in time for this tax hike, even though we will be replacing our main residence, we still have to pay the higher rate of tax, because we didn't replace it within 3 years?!!! Yet, at no point will we have owned more than 1 main residence! The 3 year rule is crazy, how is anybody supposed to know about this until they are in a position to buy a house again, at which point its too late?! Our stamp duty bill just went up £30k, that's 50% of the deposit! Absolute theft! Game over... back to renting!

Thank you. What about when you remortgage with a higher property value?

I’ve got similar figures to these property and income but some of my income is dividends my projective tax is 15k I just can’t understand why I’m paying so much tax

Great, Thanks for taking the time to explain, love your calculations, very clear. Could you just maybe tell us where to enter the CF fig on the self assessment form?

What happens when its been refurbished

Can you help...we seme to have some differing opinion's - Tax on properties owned within a Ltd co. ..all were purchased prior to 2018, do we assume that indexation relief applies to the tax on those properties, using the factors laid out in the Dec 2017 schedule ?

Can you claim the mortgage interest @ 20% plus other expenses such as insurance, mileage etc ?

Please do a new video about Budget and impact on property industry . Thank you

I have messages several times and had to response back I am keen, to have a chat, how best to arrange this

Nice job!

Thanks for the explanation. When the periods calculated are X months plus Y days, are they rounded up to the number of full months? e.g. 79 months and 2 days rounded up to 80 months? Thanks.

Interesting information - thanks 👍 why do you think they are making these changes?

Hi Kimberly, great explanation - very clear. Thanks.

Unfortunately you’re incorrect on the 2 year rule, it is actually within the 2 years previous to their passing. Not as you say, “the last two years” very important distinction.

Hi, if i purchase a property for 100k directors loan in a ltd company. When I sell will i be able to take back my 100k before any tax both in terms of corporation tax and personal tax. Thanks

Thank you for the shout out :D

Thanks for the info, very useful. what if I intend on flipping this property but then decide to rent it out? Or sell it after a year?

Thanks for the advice!

How do I transfer property to my son so nobody can take it off him if I get care home fees or proceeds of crime.

Can I claim a capital allowance for new machinery. Even after capital allowance has already been claimed for that property?

Hi me and my wife wanne sell our house and that money we want too input too a new house bigger ... but i also would like too start a company too do technical interventions in big company fot maintenance How would i be able too start a company,and then input our money from our sell in too the company if it would be able too buy it with a ltd. ... could you help me with that ?? Or anyone?? Thxx😊

Your videos are very helpful. So far in my initial research, you have addresed topics no one else has (such as alphabetized shares). There's so much to know! Thanks for your time and effort!

I like your videos but struggle to understand and tend to foget bits youve said, would be extremely beneficial if you had a whiteboard and was able to draw some sort of diagrams to help explain things better, thank you

My business is putting up a housing complex to provide temporary accommodate employees from far regions. This complex is set within the boundaries of the company premises. Can we claim capital allowances on them?

Fantastic insight 👏 Thank you 😊

I intend to be the last person using this Screw the testing

What a load of rubbish..HMRC need sacking Accountants will have a big earner out of this aswell Big brothers greedy fingers

Thanks for another great video Kimberly 👍 am I right in thinking that this applies only to unincorporated landlords and sole traders? If not then for someone who is an incorporated and unincorporated landlord then are the annual rental income summed? Thanks again.