Useful Buy2Let Information & Tips.... 

 

…Rent a Room & Income tax – the Rent-a-Room scheme is a Government introduced scheme to encourage private individuals to rent out a room of their own house to a lodger. The scheme allows you to rent out a room and earn £4,250 rental income tax free. Any annual rental income over £4,250 is taxed on the excess in the normal way. You may not deduct letting expenses in calculating your taxable income (as you would had you purchased an entire investment property). This is because such a small income (£4,250) is not considered a commercial enterprise. The Rent a Room scheme only is applicable to fumished accommodation. It does not apply to rooms let as an office or for other business purposes. If you are letting a single room and the rent exceeds the £4,250 you may adopt a partial exemption – whereby the excess over £4,250 is analysed for taxable liability. For further information on rent-a-room please read IR87. At http://www.inlandrevenue.gov.uk/pdfs/ir87.pdf

 

DISCLAIMER - we do not offer financial advice - all words are 'information only'

 

 

 

Mortgage Brokers in Somerset.... 

1st Commercial Finance:-    PO BOX 3766, Frome, BA11 2WX

A Finance:-    Penzmead, Taunton, TA4 1LD

Abbey Alliance Limited:-    Abbey House,  Station Concourse, Taunton, TA1 1QP

Abbey Mortgage Services:-    7a High Street, Wellington, TA21 8QT

Admiral Financial Services:-    1 The Mead,  Holcombe, Bath, BA3 5EG

Barnard Marsh and Co:-    5 Queen Street, Wells, BA5 2DP

Chetwood Financial Management:-    11 Fore Street, Wellington, TA21 8AA

Covey Insurance Brokers Limited:-    Victoria House, Taunton, TA1 3FA

Croxtons Limited:-    16 High Street, Chard, TA20 1QL

D and K Insurance Services:-    Bank House,  Ilchester, Yeovil, BA22 8LH

Express Mortgage Solutions Limited:-    12 South Brent Close,  Brent Knoll, Highbridge, TA9 4BS

First Choice Mortgage Centre:-    1 Bancks Street, Minehead, TA24 5DJ

G H Cook and Son:-    8 11 Bond Street, Yeovil, BA20 1PE

Grosvenor Financial Services:-    1st floor, Taunton, TA1

Higos Insurance Services Limited:-    Higos House, Wells, BA5 1DR

J S Financial Services:-    24 Angel Crescent, Bridgwater, TA6 3EW

Keith Miller Insurance Services Limited:-    Scatterbrook Farm,  Hinam Cross, Dulverton, TA22 9QG

L D P A Credit Insurance Consultants:-    Custom House, , BS21 6EX

Lawrence Morton and Company:-    33 39 Bridge Street, Taunton, TA1 1TP

Loveridge and Bradford:-    28 East Street, Ilminster, TA19 0AJ

Mainline Mortgages:-    8 Kemm Close, Cheddar, BS27 3XS

Michael Nathan Associates:-    8 Laymeade, Ilminster, TA19 0EA

New Century Design:-    11 High Street, Chard, TA20 1QF

Norton Brokers:-    51 Catherine Street, Frome, BA11 1DD

On Line Landlord:-    31 Monmouth Street, Bath, BA1 2AN

Peak Search and Select Limited:-    50 High Street, Taunton, TA1 3PR

Pethericks and Gillard Limited:-    124 High Street, Midsomer Norton, BA3 2DA

Rapid Mortgages:-    18 Glebelands, Merriott, TA16 5RE

Round Oak Mortgage and Remortgage Services:-    13 Round Oak Gr, Cheddar, BS27 3BW

Roy Squier Insurance Services:-    The Market, Taunton, TA1 1PN

Salisbury's Insurance and Mortgage Services:-    20 Canon Street, Taunton, TA1 1SW

Simply Mortgages:-    5 Princes Buildings, Bath, BA1 2ED

Sinclair Consultancy:-    12 Market Buildings, Taunton, TA1 1PN

Somerset Mortgage Brokers Limited:-    12 Rattigan Close, Burnham on Sea, TA8 1QQ

The Complete Lending Services Limited:-    The Bramley Centre,  The Borough, Cheddar, BS27 3DY

The Mortgage Shop South West Limited:-    47 Middle Street, Yeovil, BA20 1LG

Ubs Laing and Cruickshank Limited:-    4 Mendip House, Taunton, TA1 3SX

Uk Mortgages and Finance Services Limited:-    Vole Farm,  Mark, Highbridge, TA9 4PA

UK Property Shop:-    King George Street, Yeovil, BA20 1PT

West Country Mortgages Limited:-    PO BOX 1162, Axbridge, BS26 2WX

Woodward Insurance and Mortgage Services:-    122 High Street,  Street, , BA16 0ER

Wyvern Properties Limited Business Connections:-    5 Hammet Street, Taunton, TA1 1RZ

 

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