Landlord Voice Magazine September 2015 - Sheffield

CONTENTS LANDLORDVOICE Sheffield, like Rome, is renowned to be built on seven hills and just as Rome took much longer than a day to build, so did Sheffield’s wealth of knowledge in specialist industries such as steel. Rather, it was gathered during the course of two centuries. In a similar way to the Roman empire Sheffield’s steel empire has seen decline but the increasing influence of one of its most important assets – its universities – is now taking the city in a new direction. Thanks to new partnerships between industry and academia, companies such as Forgemasters are carving out an international reputation as one of the smartest advanced manufacturers around. And as ever more students are attracted to the city’s excellent universities the demand for accommodation is fuelling increased investment in building, small-medium businesses and the creative and digital industries. In this edition we discuss the city’s new direction with Forgemasters and long-established solicitors Wake-Smith and take a tour of its residential areas with Sheffield letting agents Shefflets. Meanwhile, the News Round-up reveals how landlords will be affected by wear and tear tax relief changes and a warning to Airbnb landlords over taxable income. We chat with Dave Murphy, of tax advisors Tax Advantage about the Government’s Let Property Campaign and how to avoid landing on the wrong side of HM Revenue and Customs, while Tom Entwistle, of Landlord Zone property website, shares his tips for a successful property business. We also take a journey through Sheffield’s past and an in-depth look at its property and rental market in our in our Through the Years and In Numbers sections. And if you have five minutes spare then you might want to test your knowledge of the steel city in our Trivia Time quiz. Landlord News • Half of landlords would be affected by wear and tear tax relief cut. p4 • Tax man may call on Airbnb landlords. p5 p6 p12 2 | LandlordVoice | September 2015 • City Snapshots - a guided tour of Sheffield. p6. • Sheffield Through the Years - a look at the city’s foundations. p10 • Forgemasters - success through innovation. p12 • Tapping the fountain of knowledge - WakeSmith solicitors. p14 • In numbers - a closer look at Sheffield’s rental market. p16 Expert Opinion Ben McVay Ben McVay Landlord Voice Editor Sheffield p18 • Tom Entwistle - LandlordZone editor on building a portfolio. p18 • Tax advantage - helping landlords stay on the right side of HMRC. p20 September 2015 | LandlordVoice | 3

Landlord Voice Magazine September 2015 - Sheffield | Page 2