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I am not sure if there are any figs on the Numbers of Rouge Landlords?
But I would imagine if they were Rouge they would most likely not declaring their rent to HMRC
With the growth of Company Landlords who use a Ltd Co this aspect of bad Landlording has to fall
The Govt has to be happier seeing Landlords start Ltd Co as you have to do accounts
It won't stop a bad practice landlord but it stops the avoidance of Taxes and If you take a Salary your in a live HMRC. They know very quickly how much you are paid.
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Yes - I presume so.
Though if a landlord is happy providing fake information to HMRC in the personal name. They would be happy to provide fake information to HMRC in the company name?Whichever way, its a doomed process and will get found out sooner rather than later. Given the amount of data sharing that we have these days.
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Its unwise to try and fiddle HMRC and on top of that a Director may face big issues if they try and fiddle the accounts in a company
and there accountant could also have issues if they helped a Director fiddle the accounts
Do you think these new changes will impact rogue LLs?
Up until a couple of years ago I was very much an amateur landlord, most of my income was tax exempt but I couldn't be certain all of it was, but I was there or there abouts. I had much the same attitude to legislation. I'll accept that as a definition of a rogue landlord.
After taking more of an interest, and incorporating, I am now very aware of my tax obligations. Far from stopping the avoidance of tax, I have found it positively encourages it.
rogue landlord is such an ill defined term. it can mean anything to anyone with an agenda.
Baroness Williams of Trafford defined the term a couple of years ago for the purpose of parliament:
“The term 'rogue landlord' is widely understood in the lettings industry to describe a landlord who knowingly flouts their obligations by renting out unsafe and substandard accommodation to tenants, many of whom may be vulnerable. The Housing and Planning Bill contains a number of measures to help local authorities crack down on rogue landlords and force them to either improve or leave the sector.”
so as I say rogue landlord can really mean anything to anyone. for instance that 'definition' says nothing about paying taxes!
Agreed its a non word really and a far too narrow definition
I hope The Baroness spends some time also to come up with a definition for rogue tenants who dont pay their rent and damage our properties and includes measures for that in any New Housing Bill . Then LA`s can be helped to crack down on rogue tenants and force them to either pay up or leave my property . Not to pay rent is theft
Then she can move on to define what a rogue MP is who fiddle their expenses and knowingly flout their obligations
Jonathan Clarke. http://www.buytoletmk.com
good points. there are rogues in every sector (and in my experience in ever increasing proportions), but rogue landlords is now a catchphrase auto associated with all landlords.
To some Labour politicians anyone who lets a property that doesn't meet the decent homes statndard is a rogue. The kitchen in my former home is 23 years old so would fail the test if applied simplisticly.