Owner wants to pay sitting tenant to move out - tax help please

00ec25

Oliverthedog wrote: »

Thank you all for your comments however I am simply asking if anyone knows the tax situation.

given you have a "regular" accountant you should pay them to advise you and stop trying to get it free on here

pphillips

Oliverthedog wrote: »

Thank you all for your comments however I am simply asking if anyone knows the tax situation.

As I have said I know my rights as far as my tenancy goes.

Kind regards

It seems to me you'd get PRR because you're basically selling a lease.

HMRC guidance says "You’re entitled to relief ... if you’re a tenant owning a lease."

https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet/hs283-private-residence-relief-2017--2

System

Thank you pphillips

45002

Clutterfree wrote: »

I think they said it was £100,000!

WOW £100,000 to give up a protected tenancy.

What's the catch !

Is your home in Central London.

Got this in writing or just verbal offer ?

System

00ec25. Are you an internet troll. Your input was completely unnecessary and added nothing to the thread. I’ve not used a forum before. I did not expect such negativity.
I have asked the forum people to remove this thread I was just asking for help not abuse.

45002

00ec25 wrote: »

given you have a "regular" accountant you should pay them to advise you and stop trying to get it free on here

Oliverthedog wrote:

00ec25. Are you an internet troll. Your input was completely unnecessary and added nothing to the thread. I’ve not used a forum before. I did not expect such negativity.
I have asked the forum people to remove this thread I was just asking for help not abuse.

WOW again.

You ask for advice and when your not happy accuse a regular poster of been a Troll...

If you want advice on the £ ? you been offered seek advise from another accountant..


https://forums.moneysavingexpert.com/discussion/6019502/tax-question-my-landlord-wants-to-pay-me-to-move-out-of-my-protected-tenancy



...

System

45002. This was my first post on my first forum. I didn’t understand why someone would suggest I trying to get free advice to avoid paying my account, she is a lovely lady and have paid her every year for over 20 years. However it is now the weekend so she is not working. and I thought someone may have had experience with this. I don’t know my someone who does not even know me or my circumstances would find it nessessary. I have found this forum to be a thoroughly unpleasant experience and have emailed to get myself removed.
I was hoping for support but feel attacked, please be kinder to other new forum users.
I don’t know how long it take to be removed but this is my last post.

45002

Oliverthedog wrote: »

45002. This was my first post on my first forum. I didn’t understand why someone would suggest I trying to get free advice to avoid paying my account, she is a lovely lady and have paid her every year for over 20 years. However it is now the weekend so she is not working. and I thought someone may have had experience with this. I don’t know my someone who does not even know me or my circumstances would find it nessessary. I have found this forum to be a thoroughly unpleasant experience and have emailed to get myself removed.
I was hoping for support but feel attacked, please be kinder to other new forum users.
I don’t know how long it take to be removed but this is my last post.

Highly unlikely mse will delete the whole thread, cant find anything unpleasant, 00ec25 is entitled to their opinion.

A post may be deleted by mse if its deemed offensive.

As for deleting a whole thread its pointless excises as most of the time a alot will get archived on a internet archive services, a example http://cachedview.com/

If you don't want to post here again, Just log out.

I would be interested in a reply to my post 15

One hundred thousand pounds for a protected tenancy, you must be living in a luxury area to get a offer like that or your new LL hasn't a clue ?

AdrianC

45002 wrote: »

One hundred thousand pounds for a protected tenancy, you must be living in a luxury area to get a offer like that or your new LL hasn't a clue ?

A protected sitting tenant will make a very big difference to both the sale value of the property and the saleability.

Let's say it's a £300k flat (not exactly Mayfair territory), impacted by 50% by a sitting protected tenant. £150k difference - split that 2:1, and that's £100k for the tenant. Not only will the vendor be better off, too, but it will be a much easier sale.

FWIW, they're total wet-finger illustrative numbers. They may well be very different in reality.