Buy to let tax traps to avoid including VAT and AirBnB

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Episode 3 where Tommy is joined by Steve Nichols to answer your questions. Be sure to subscribe so you don't miss out on the future Q&A episodes!

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DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice and tax allowances and rates are subject to change.
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It might be unpopular to say this but nowadays landlords/ladies have less rights than tenants in some circumstances. My tenants had cash in hand jobs, did not pay rent for over 1 year, pretended to be separated so they got two separate social housing, lots of backlog with court eviction process due to COVID. And then they may trash the place before they leave. You can claim some of the expenses as tax relief but you never get it all back. The court ordered the tenants to pay but of course they pretended they had no money. Going to court to get it back would be additional costs. I made a bit of a loss on my property when I sold but due to CGT personal allowance going down, rising mortgage rates I was ok to cut my losses.
Now I need to find the courage to get back into investing with the property deposit I got back and these videos are helping me. Thanks!!

yasmin
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Awesome video once again, thank you both!!

gagansingh
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Do doctors have to pay VAT for their medical work?

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