I’m having to investigate Capital Allowances on our Zetland House purchase, with a view to exploiting them ourselves on an ongoing basis and the valuation of any future sale.
This is a complex and, dare I say, crushingly dull affair. However, if it saves money, it makes you money and this article has provided me with the most illuminating overview so far. Perhaps the best advice in this article is to get a Capital Allowances specialist in your Power Team.
Two of our Huddersfield student HMOs had conditions imposed on the planning approval requiring the premises only be let to students. Students are exempt from council tax and if we are presented with a council tax bill (which happened recently) we pay the council tax and have it quickly refunded.
For now we are safe, however, in future we know we have to be very careful in the design and implementation of HMOs. Councils seem to have identified a cash cow in imposing a council tax banding on individual rooms, depending on the range of facilities offered to tenants. Yesterday I found this excellent guide on criteria published by Comfort Lettings, which I thought could be a valuable share.