TAXATION FOR LANDLORDS

25th September 2019 By

ONE DAY COURSE

TAXATION AND LANDLORDS

SPECIALIST LANDLORD TAX COURSE

15 NOVEMBER 2019

CORNWALL COUNCIL OFFICES, DOLCOATH AVENUE, CAMBORNE

The course will cost

CRLA Members £70.00

Non-members £100.00

We have been fortunate to be able to book Sue Bryer to give a course on taxation.

Course Content

· Introduction and overview of the UK Tax regime -Inheritance Tax, Capital Gains Tax (brief overview) and Corporation Tax

· A comprehensive coverage of IHT and wealth management and tax strategies

· Income Tax –an analysis and its relationship with section 24

· Allowable expenses and what to offset

· Full explanation of Section 24 tax implications and clear worked examples

· An explanation of why 20% tax payers are possibly the most vulnerable-how often do you hear the soundbites that a 20% tax payer will not be affected?

· Templates created by Sue will be shared on the course to enable landlords to complete calculations on their own personal portfolios and to understand their tax     liability

· Your 20% tax reducer (relief) may not be your finance costs!

· Whether to operate as a company or individual investor (pros and cons of incorporation)

· LLPs – a thorough explanation of the benefits of an LLP and how the drafting of ‘model clauses’ – which are shared – are essential to get the required flexibility for tax purposes

· The various options available, and which ones to use in the light of S24- remodel, restructure or refinance?

· An explanation and introduction to the use of Trusts and how they are taxed

· Making tax digital

· Smart exits and strategies during your lifetime

NB

Delegates attending the Specialist Tax Course will:

· use templates created by Sue, and by following clear steps will be able to calculate their personal tax liability in the light of the S24 Tax

· be introduced to the drafting techniques used in LLPs – model clauses will be shared- which are essential to get the essential tax flexibility landlords require

· the course is delivered with its own course brochure for you to make your own notes.

The topic of taxation is avoided by many landlords but with the increased pressure from HMRC and loss of mortgage relief (Section 24) it is now an important part of any landlord’s strategy.

This course is an updated version of the course which received good reviews from Portsmouth and District Landlords Association.

Many thanks to Cornwall Council for arranging the use of a room in their offices.

Sue Bryer is a solicitor qualified for over 30 years and an accredited private landlord for 25 years based in Sussex.

Recognising that there was a need to provide detailed tax training for private landlords and property developers, Sue has been delivering a wide range of face to face tax education over the past 5 years, culminating in the bespoke design and delivery of two 1-day landlord taxation courses for landlord associations and accreditation schemes.

Specialist Landlord Tax

Understanding Capital Gains Taxation – Should I sell?

Over 70 of these courses have been delivered over the past 5 years and have proven to be very popular. Landlords struggle to find answers as to how to stay profitable, keep their assets and seek clarity as to whether they need to restructure and/or remodel their portfolios to be more tax efficient due to the recent tax changes.

Many landlords have elected to reduce their portfolio size by selling some of their properties. It has also brought into sharp focus the need for careful tax planning and refining exit strategies.

Sue Bryer Landlord Tax Training Associates has pleasure in offering these courses to empower and enable landlords to complete essential calculations. They provide a conceptual learning experience followed by user friendly calculations. The new method of how landlords are taxed and the related vocabulary HMRC has recently introduced, will be shared and explained in full.

Following discussions on this course with an accountant considered knowledgeable in landlord tax issues he admitted that he did not know a lot of the content and may consider attending himself.—Ruth

Any queries please contact Ruth Clarke

Only 20 spaces on this course so please book asap

Click here to download your booking form.

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MERGER OF NLA AND RLA – NEW LANDLORD BODY (NRLA) FORMED

24th September 2019 By

Landlords have backed plans for its two largest representative bodies to merge to provide a stronger voice for the private rented sector.
Following meetings held today (17 September), members of the Residential Landlords Association (RLA) and the National Landlords Association (NLA) have voted for the two organisations to unite to form the National Residential Landlords Association (NRLA).
The new organisation will have a membership of more than 80,000 landlords making it by far the largest organisation in the sector. Its members will own and manage half a million properties, about 10 per cent of the private rented sector. It will officially launch on 1st January 2020.
The two Chairs, Alan Ward (RLA) and Adrian Jeakings (NLA), have said in a joint statement: “We are delighted that landlords have backed plans for a new, stronger body to represent them and their interests.
“The new organisation will have a more powerful voice to support landlords, provide services to them and to lobby government.
“Both organisations will now move forward together to appoint a new Chair and Directors for the NRLA. We will be seeking candidates internally and externally and we would welcome expressions of interest from members for these posts.”
The NRLA will serve landlords in England Wales and will have a regional structure.

Please remember that the CRLA is completely independent and not affiliated to any of the above organisations.

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Simplifying Tax for Landlords?

10th September 2019 By

The Office of Tax Simplification would like to hear from anyone who receives residential property income, and submits an annual self assessment return (rather than those who hold property through a company).
Just a short survey
https://www.surveymonkey.co.uk/r/OTSLandlords

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FAIR POSSESSION

4th June 2019 By

The CRLA joined with other agent and landlord bodies to work together as a coalition to oppose the loss of Section 21.

The press release from the coalition was released today.

Find out more >>

TENANT FEES ACT 2019 AND AST

30th May 2019 By

Tenancy Agreement and Tenant Fees Act 2019

Tenant Fees Act 2019 comes into effect on 1 June.

A new Tenancy Agreement reflecting the changes the Act will bring into force has been prepared and is available in .pdf format.

Please remember that from 1 June 2019 you are limited in what you can charge tenants AND the amount of deposit you can hold.

COME AND VISIT US AT THE ROYAL CORNWALL SHOW IN WADEBRIDGE

 6, 7, 8 JUNE – STAND 371

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ROYAL CORNWALL SHOW

9th May 2019 By

Come and Visit us at The Royal Cornwall Show in Wadebridge

6th, 7th and 8th June

Stand 371

Coffee and tea and a chance to sit down for members old and new

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CLIENT MONEY PROTECTION

19th March 2019 By

UPDATED 29 MARCH 2019 TO INCLUDE RICS – DETAILS BELOW

As of 1 April 2019 all letting and managing agents will be required to hold client money protection insurance.

There are a limited number of schemes approved by government:

Money Shield – owned jointly by Propertymark and The Dispute Service and offered to non ARLA Propertymark members, meaning agents can sign up without having to join the trade body
Website: https://money-shield.co.uk/

National Approved Letting Scheme (anyone wanting to use this scheme will need to join NALS)
Website: https://www.nalscheme.co.uk/
Email: info@nalscheme.co.uk
Tel: 01242 581712

Client Money Protect
Website: https://www.clientmoneyprotect.co.uk
Email: info@clientmoneyprotect.co.uk
Tel: 0333 321 9414

UKALA (UK Association of Letting Agents)
The scheme is underwritten by insurers Hiscox and regulated by the Financial Conduct Authority in the UK, and is open to all property agents and professionals who are UKALA members
Website: https://www.ukala.org.uk/
Email: info@ukala.org.uk
Tel: 020 7820 7900

PropertyMark (anyone wanting to use this scheme will need to join ARLA
Website: http://www.propertymark.co.ukhttp://www.propertymark.co.uk
Email: help@propertymark.co.uk
Tel: 01926 496 800

RICS
Website:
https://www.rics.org/uk/upholding-professional-standards/regulation/firm-regulation/client-money/cmp-scheme/
Email: contactrics@rics.org
Head Office Tel: 0)24 7686 8555

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TENANT FEES BILL TO COME INTO EFFECT JUNE 2019

16th January 2019 By

T

The Tenant Fees Bill passed the final hurdle in the Parliamentary Process yesterday (hidden in the Brexit news).   Just awaiting Royal Assent to become law at which point the final bill will go onto the CRLA website for anyone interested.   The Bill becomes law on 1 June.  Watch out in future newsletters for updates and final information on what you CANNOT charge your tenants.

This will apply to all tenancies created on or after 1 June 2019 whether by individual landlords or agents.

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HOW TO RENT GUIDE – ARE YOU USING THE RIGHT ONE?

2nd July 2018 By

The How To Rent Guide was updated on 26 June.  A link to the new version can be found in the Information Sheets For Landlords Page of the Members Area.

Copies of the most recent (at the time) version of the How To Rent Guide should be given with all new tenancies and when a tenancy rolls over to periodic or is renewed.

If you need a copy of an ‘old’ version of the Guide please contact Ruth Clarke to ask for one to be sent out.

(01872 5544998 or email crlawp@gmail.com)

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INCREASE IN PRICE OF POSTAGE STAMPS

14th March 2018 By

The price of stamps is due to rise on 26 March. First class stamps will be rising by 2p.
Click here to go to the Royal Mail new price list – standard stamp prices are on page 6

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