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  • FIRST POST
    • hfguk
    • By hfguk 18th May 17, 12:29 AM
    • 1Posts
    • 0Thanks
    hfguk
    UK Tenant Data
    • #1
    • 18th May 17, 12:29 AM
    UK Tenant Data 18th May 17 at 12:29 AM
    Is UK Tenant Data a legitimate and trustworthy organisation? Anyone has experience with them?

    I have been asked to supply very detailed personal information to this organisation in order to provide guarantee for a student. Is this normal practice? I am really worrying about identity fraud.

    Any advice and information will be highly appreciated.
Page 1
    • Pixie5740
    • By Pixie5740 18th May 17, 9:28 AM
    • 11,010 Posts
    • 15,187 Thanks
    Pixie5740
    • #2
    • 18th May 17, 9:28 AM
    • #2
    • 18th May 17, 9:28 AM
    Is UK Tenant Data a legitimate and trustworthy organisation? Anyone has experience with them?

    I have been asked to supply very detailed personal information to this organisation in order to provide guarantee for a student. Is this normal practice? I am really worrying about identity fraud.

    Any advice and information will be highly appreciated.
    Originally posted by hfguk
    Yes, UK Tenant Data is a legitimate company used to reference prospective tenants and their guarantors. I assume that either the letting agent or landlord has asked you to supply this information so why would you think that either the letting agent or landlord are trying to steal your identity?
    Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
    • theartfullodger
    • By theartfullodger 18th May 17, 11:27 AM
    • 8,974 Posts
    • 11,853 Thanks
    theartfullodger
    • #3
    • 18th May 17, 11:27 AM
    • #3
    • 18th May 17, 11:27 AM
    Well, it's a registered UK company:

    However

    - share capital £10 (so it it all goes wrong that's all that may be paid to creditors...)

    - the sole director is director of 4 companies, 2 of which are in liquidation
    https://beta.companieshouse.gov.uk/officers/Ro0bM7nhJRP4Kpk8CJMjC0jZUgQ/appointments
    (bit of unfortunate track record, doesn't exactly inspire confidence...)

    - There's already been one attempt to compulsory strike the company off, usually indication of something not being done right, see..
    https://beta.companieshouse.gov.uk/company/06842132/filing-history

    The most recent accounts show an interest-free, unsecured loan of more than £200k being made to the sole director.

    Were these the sole evidence of the probity of a prospective tenant (or landlord, or agent..) I'd not do business with them...

    In your case I'd decline to provide info to this mob, but be prepared to deal direct with whoever is the actual landlord. (Just my view mind..)

    Cheers!
    Last edited by theartfullodger; 18-05-2017 at 11:31 AM.
    • Good Advice
    • By Good Advice 20th May 17, 10:21 AM
    • 2 Posts
    • 2 Thanks
    Good Advice
    • #4
    • 20th May 17, 10:21 AM
    • #4
    • 20th May 17, 10:21 AM
    Bad advice from the artful dodger

    It is a good idea that before you offer advice, you seek out the correct facts and have a clear understanding of the mechanics of limited entities.

    You clearly have no understanding of the types of liquidations! Please look up MVL, this stands for "members voluntary liquidation and is initiated by the shareholders within the company. In this case the company in question was 20 years old and liquidated to release the cash and assets within in the company, not uncommon if the shareholders of the company retire as this is the most tax efficient method of getting the cash out of a company and benefits from ER relief (you may wish to look this up too!) The 200k loan is academic, it's the fact the company can afford to do this in the first instance and will sit on the balance sheet as an asset of the company, again a very positive cash position, so again you basic understanding is so limited it's borderline ridiculous.

    Top tip: Don't post things you clearly have no idea about and refrain from copying and pasting links to legitimate sources that you have no understanding of. Offering up advice to people in the public domain should only undertaken by a professional, something you are clearly not, and could adversely affect the person on the receiving end of it!
    Last edited by Good Advice; 20-05-2017 at 10:30 AM. Reason: Amend
    • IAmWales
    • By IAmWales 20th May 17, 10:36 AM
    • 1,491 Posts
    • 3,129 Thanks
    IAmWales
    • #5
    • 20th May 17, 10:36 AM
    • #5
    • 20th May 17, 10:36 AM
    Bad advice from the artful dodger

    It is a good idea that before you offer advice, you seek out the correct facts and have a clear understanding of the mechanics of limited entities.

    You clearly have no understanding of the types of liquidations! Please look up MVL, this stands for "members voluntary liquidation and is initiated by the shareholders within the company. In this case the company in question was 20 years old and liquidated to release the cash and assets within in the company, not uncommon if the shareholders of the company retire as this is the most tax efficient method of getting the cash out of a company and benefits from ER relief (you may wish to look this up too!) The 200k loan is academic, it's the fact the company can afford to do this in the first instance and will sit on the balance sheet as an asset of the company, again a very positive cash position, so again you basic understanding is so limited it's borderline ridiculous.

    Top tip: Don't post things you clearly have no idea about and refrain from copying and pasting links to legitimate sources that you have no understanding of. Offering up advice to people in the public domain should only undertaken by a professional, something you are clearly not, and could adversely affect the person on the receiving end of it!
    Originally posted by Good Advice
    Wow, what a way to make a good impression on your first post!

    This is an open forum and anyone is free to post as they wish (within the forum rules). Please don't attempt to dictate what others may post, especially to respected members like artful. It's unlikely to go down well!
    • unforeseen
    • By unforeseen 20th May 17, 10:40 AM
    • 1,763 Posts
    • 2,203 Thanks
    unforeseen
    • #6
    • 20th May 17, 10:40 AM
    • #6
    • 20th May 17, 10:40 AM
    I wonder why a first time poster is defending the company so strongly?

    Just saying
    • davidmcn
    • By davidmcn 20th May 17, 10:59 AM
    • 5,934 Posts
    • 5,691 Thanks
    davidmcn
    • #7
    • 20th May 17, 10:59 AM
    • #7
    • 20th May 17, 10:59 AM
    I wonder why a first time poster is defending the company so strongly?

    Just saying
    Originally posted by unforeseen
    Indeed, though they have a point about the relevance of the comments to the OP's query - the company will do the credit checking and be on their way, nobody is trying to assess their covenant.
    • Good Advice
    • By Good Advice 20th May 17, 11:24 AM
    • 2 Posts
    • 2 Thanks
    Good Advice
    • #8
    • 20th May 17, 11:24 AM
    • #8
    • 20th May 17, 11:24 AM
    To be clear, I'm a landlord and came across this post when researching a company to undertake references for my tenants.

    I don't normally post on any forums, simply don't have the time or inclination to post things. Although in this case, as in most cases on this type of forum people to offer opinions/advice on things they clearly have no understanding of, this I find odd!

    The tax bit! A loan to a shareholder from the company if not repaid within that tax year will, will generate a corporation tax liability for the company. The shareholder will pay statutory interest as a benefit in kind through their P11D tax declaration. So in short the full tax liability for any amount borrowed is deferred at best until this is repaid by the shareholder. When repaid the company will receive a tax refund for the corporation tax they paid on the shareholder/directors overdrawn DLA.

    Moving forward these types of loans are no longer an option as an overdrawn DLA account attracts full dividend tax and not the basic rate of corporation tax.

    So to to help you understand this method of borrowing, it merely defers the personal tax liability for the sharholder/director. Another thing to consider is that there will be a HMRC debtor sat on the balance sheet in this case owing the company in excess of £40K when the DLA is repaid.

    I hope that's cleared that up, and please don't take this comment as troll like-not my style, I just don't like misleading information.

    Promise not to post ever again.

    All have a great weekend!!
    Last edited by Good Advice; 20-05-2017 at 11:27 AM. Reason: typo
    • LandyAndy
    • By LandyAndy 1st Sep 17, 9:55 AM
    • 23,887 Posts
    • 50,550 Thanks
    LandyAndy
    • #9
    • 1st Sep 17, 9:55 AM
    • #9
    • 1st Sep 17, 9:55 AM
    Bad advice from the artful dodger......

    blah, blah, blah....

    It is a good idea that before you offer advice, you seek out the correct facts and have a clear understanding of the mechanics of limited entities.

    receiving end of it!
    Originally posted by Good Advice
    To be clear, ........

    blah, blah, blah........

    Promise not to post ever again.

    All have a great weekend!!
    Originally posted by Good Advice
    Shame, because what you wrote was clear and accurate.

    Our loss, I suppose.
    • theartfullodger
    • By theartfullodger 1st Sep 17, 10:13 AM
    • 8,974 Posts
    • 11,853 Thanks
    theartfullodger
    Bad advice from the artful dodger..................!
    Originally posted by Good Advice
    Who he?

    Attention to detail matters, especially in landlord/tenant things...

    "Good advice" eh?
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