How to enter a buy to let property remortgage onto Xero accounts

[@Senior-TransitionSpecialist]

Thank you for this video. How would you handle cash received back from the refinance?

[@UK-Property-Tax-Accountants]

The refinance would be cash in the bank and the other side would be an increase in your mortgage liability

[@SarahClowes]

How would you account for development costs such as construction costs if they have been needed to uplift the valiue of the property?

[@UK-Property-Tax-Accountants]

You would put them to buildings if it is a buy to keep or stock of buy to sell

[@markcox8661]

good and useful (albeit complicated) post do you have one on how to set up the property in the first instance?

[@markcox8661]

I see you already had a post on this one, found it! The only question I had was what if you have already put (real) money into your business account and assigned that to the Directors Loan Account?

[@UK-Property-Tax-Accountants]

You can assign costs to the directors loan via journals or spend money

[@miket7530]

Hi Simon. Thanks for the video. The question i have is why do you transfer the released equity of £206,250 into the Directors Loan Account? If this transaction occurred several times over the years, then wont this mess up the Y/E DL balance eg the director wont know if he is owed money or owes money to the business ? I was expecting you to transfer the released equity into an "equity labelled" bank account or something similar where the released funds could be tracked properly? Best wishes. Mike

[@UK-Property-Tax-Accountants]

Hi Mike Fortuitously a balance sheet that shows all director loan balances is cumulative so you will always know what the balance owed to or owed from the company is