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"you must report any queries within 5 days" - legit?
Comments
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I didn't deny being the landlord I am dubious that legally that means I am a business. A B2B contract is between two legal entities. Landlords are not taxed as a business on profits or able to write off losses against profit like a business (though holiday-home owners ARE treated as a faux-business through the different rules on FHLs).
It's also not true to say B2B contracts are unregulated. They are less regulated i.e. offer less protection but they are not above the law.
Anyway fun as this is, can anyone answer the question? If it was work done on MY house, can the tradesman put arbitrary rules on his invoice? Are their consumer rights in this area or not, and if so what are they?
What do you mean "taxed like a business"? There is no one uniform way for taxing businesses. My local corner shop, supermarket superstore and sole traders (joiners, electricians, taxi drivers etc) are not all subject to the same tax rules. They are, however, all businesses.
As for your question, generally (and thats a big generally -with b2b it invariably depends on what exactly the terms stated and whether perhaps theres a term allowing them to vary the agreement, while even if such a term existed in a consumer contract it would likely be unfair due to consumer protection) once a contract is concluded, it cant be varied except by agreement. But what do you mean by "queries"? If you mean seeking information/asking questions then unless the contract expressly stated they would provide that information/answer, the 5 day clause is moot. If you mean the goods conforming to contract then it comes down to what terms you agreed to.You keep using that word. I do not think it means what you think it means - Inigo Montoya, The Princess Bride0 -
What does that have to do with anything?Do you earn money being a landlord? Is it a hobby or a registered charity?
Yes. Since I don't run my BTL properties through a business, I declare their earnings and costs in my SATR each year. That is, my personal tax return, not my business tax return. Because it is classed as personal income (like your salary) because being a landlord doesn't make you a business.Are you aware that you need to declare your rental earnings to HMRC?
No, I'm not. I'm a business if I register a business, have a Companies' House registered business number and file a CT600 each year. If that business purchases properties it is a property investment business and taxed according to company tax rates. You get better ability to write off costs against income thana private landlord but get no CGT breaks so it is generally considered a worse option unless you are buying a lot of properties and can thus avoid the 2nd home SDLT surcharge of 3%.And to echo the others ... Yes, you are a business - whether you have sitting tenants or are just starting out, you're still acting in the course of a business.
https://www.thisismoney.co.uk/money/buytolet/article-4596926/Should-limited-company-buy-let.html
Um, you're entirely wrong. UK companies are taxed according to the same rules. There are special cases (small companies get some tax breaks and can file shortened versions of tax returns, amongst other things) but even my 1-man consultancy business files the same paperwork to HMRC year as Tesco... these are publicly available documents.unholyangel wrote: »What do you mean "taxed like a business"? There is no one uniform way for taxing businesses. My local corner shop, supermarket superstore and sole traders (joiners, electricians, taxi drivers etc) are not all subject to the same tax rules. They are, however, all businesses.
A sole trader is NOT a business. The clue is in the name. Sole traders' income is classed as personal income and taxed on their SATR. It is the route for individuals who don't want to set up a business, though many individuals DO set up Limited companies because it can be more tax efficient. In that case, they are business owners and their business is subject to corporation tax, etc.
If I own 1 or 10 BTLs in my own name, this is all classed as personal income and counts towards my personal tax, higher-rate tax bracket, etc.
To sum up: You are not "a business" because you "do business". In fact YOU are never a business. You can be a sole-trader or a business owner, but a business is a legal entity in its own right. It is subject to totally different laws. Consumers have rights when dealing with businesses, if two businesses deal with each other this is very different but a B2B contract is between two legally defined business entities.
Hope that helps all those of you who'd rather pick nits than answer a simple question. Maybe you learned something, even. I'm not an expert or an accountant but I have run a business for 11 years and been a landlord of 1-3 properties for 10. If you want to throw in a word about the consumer rights of an individual when dealing with a registered business, great. If you want to be distracted that the letter which piqued my curiosity happened to be related to a BTL property even though I clearly said I am asking generally rather than specifically, that's fine too.0 -
It means you are a business! Why do businesses try to deny it? Along with used car dealers who try and deny it.
Dodgy dealers always deny it.0 -
They are spelt out in The Consumer Rights Act 2015.
Probably Section 57 is most appropriate.0 -
What does that have to do with anything?
Yes. Since I don't run my BTL properties through a business, I declare their earnings and costs in my SATR each year. That is, my personal tax return, not my business tax return. Because it is classed as personal income (like your salary) because being a landlord doesn't make you a business.
No, I'm not. I'm a business if I register a business, have a Companies' House registered business number and file a CT600 each year. If that business purchases properties it is a property investment business and taxed according to company tax rates. You get better ability to write off costs against income thana private landlord but get no CGT breaks so it is generally considered a worse option unless you are buying a lot of properties and can thus avoid the 2nd home SDLT surcharge of 3%.
https://www.thisismoney.co.uk/money/buytolet/article-4596926/Should-limited-company-buy-let.html
Um, you're entirely wrong. UK companies are taxed according to the same rules. There are special cases (small companies get some tax breaks and can file shortened versions of tax returns, amongst other things) but even my 1-man consultancy business files the same paperwork to HMRC year as Tesco... these are publicly available documents.
A sole trader is NOT a business. The clue is in the name. Sole traders' income is classed as personal income and taxed on their SATR. It is the route for individuals who don't want to set up a business, though many individuals DO set up Limited companies because it can be more tax efficient. In that case, they are business owners and their business is subject to corporation tax, etc.
If I own 1 or 10 BTLs in my own name, this is all classed as personal income and counts towards my personal tax, higher-rate tax bracket, etc.
To sum up: You are not "a business" because you "do business". In fact YOU are never a business. You can be a sole-trader or a business owner, but a business is a legal entity in its own right. It is subject to totally different laws. Consumers have rights when dealing with businesses, if two businesses deal with each other this is very different but a B2B contract is between two legally defined business entities.
Hope that helps all those of you who'd rather pick nits than answer a simple question. Maybe you learned something, even. I'm not an expert or an accountant but I have run a business for 11 years and been a landlord of 1-3 properties for 10. If you want to throw in a word about the consumer rights of an individual when dealing with a registered business, great. If you want to be distracted that the letter which piqued my curiosity happened to be related to a BTL property even though I clearly said I am asking generally rather than specifically, that's fine too.
You register with companies house as a company (clue is in the name). A sole trader IS a business but is not a company.
Its quite clear from your post that you think business means company, it does not.
ETA: and you still haven't told us what these "queries" are (except to say that they're not complaints, you're just seeking clarity). Theres no law saying a business has to answer any queries - whether consumer or business.You keep using that word. I do not think it means what you think it means - Inigo Montoya, The Princess Bride0 -
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Do you earn money from your job? Guess you're a business then.
I would be an employee of the business. The bossman owns the business and pays the tax for the business and arranges the contracts.
Your the bossman, your business. If you employ a cleaner, they would be your employee. Still your business.
What contract did you agree?Censorship Reigns Supreme in Troll City...0
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