Some accountants have been telling their clients that if they want to claim they run the “business” as a “partnership” then they will automatically have to pay National Insurance. “That can’t be right”, I hear you cry! Well it’s not quite clear cut, so I decided to do some more research on the subject and… Read more
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Until quite recently, many have argued that a partnership doesn’t exist unless HMRC has issued a rental property Partnership Unique Tax Reference number “UTR” and that three years of partnership returns have been submitted and accepted. However, earlier this year I was made aware of HMRC issuing non-statutory clearance for the SDLT exemption of a… Read more
The post Are Joint Buy-to-Let Owners Automatically A Business Partnership For SDLT Exemption Purposes? appeared first on Property118.com.
This 10 minute video interview about landlord incorporation was recorded in April 2017, just before the doors were opened to what is believed to have been the UK’s largest landlord tax conference ever. When you watch this video you will learn about the legislation which can mitigate capital gains tax when a landlord business is… Read more
The post Landlord Incorporation Explained On Video Interview With Ranjan Bhattacharya appeared first on Property118.com.
I have been reading your Landlord Tax Tutorials with great interest since the beginning of this year. The penny dropped for me in one of the latest articles and I think my accountants negligence has resulted in my husband and I paying £5,000 a year more in tax than we needed to. I would be… Read more
The post I think our accountant may have messed up appeared first on Property118.com.
We want to know which accountancy practice is the best in the UK according to landlords and to give them the recognition they deserve. To achieve this we need your help. If you think the accountancy practice you use deserves to be nominated please complete the form below. We will then let them know that… Read more
The post Accountant Of The Year 2017 – Voted By Landlords appeared first on Property118.com.
Just suppose you only had to pay corporation tax on your retained rental profits. This is currently just 20% and is due to be reduced. Just suppose you could restructure your rental property business so that it becomes unaffected by restrictions on finance cost relief. Just suppose you achieve the above for a total cost of… Read more
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Section 24 Tax Problems – Will your mortgage interest payments be taxed? The following breaks down, into three easy sections, the important questions of whether your mortgage interest payments will be taxed from 2017 onward, and if so what you can do about it. Identify the size of the PROBLEM, if indeed there is one at all What… Read more
The post No Nonsense Tax Advice For Landlords appeared first on Property118.com.
We now have 134 conditional pre-orders of our book “Our UK Buy-to-Let Tax Strategy” and we haven’t even finished writing it yet! The reason the pre-orders are “conditional” is that no money will be taken and the book will never be published unless we hit our £5,000 target of pre-sales by 23rd October 2016. The book costs… Read more
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To enable individual landlords to make a commercial decision on whether incorporation is the right thing for them to consider we commissioned an elite team of specialists to construct a definitive spreadsheet which takes all the important factors into consideration. The spreadsheet analyses the cost of doing nothing vs the costs and benefits of incorporation. There are several… Read more
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For those new to buy to let and considering the letting of their current home in to buy another can avoid the 3% SDLT surchare by following this strategy. Create a new limited company and sell your current home to it. This will require you to obtain a company buy to let mortgage. The new… Read more
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For those new to buy to let and considering the letting of their current home in to buy another can avoid the 3% SDLT surchare by following this strategy. Create a new limited company and sell your current home to it. This will require you to obtain a company buy to let mortgage. The new… Read more
The post New Tax Strategy For Accidental Landlords appeared first on Property118.com.
The ability for landlords trading as partnerships to avoid CGT and SDLT at the point of incorporation isn’t some hair-brained scheme, it’s written in legislation. You just need to know where to look to find the information and to employ the services of an experienced tax adviser to claim the various allowances for your business. Details of… Read more
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Budget 2016 has put massive pressure on landlords who have been considering incorporation following George Osborne’s announcements in the Summer 2015 Budget which restricts finance cost relief for individual landlords. My message to all landlords who have been considering incorporation is a crude one – it’s time to piss or get off the potty! If… Read more
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There was a piece on the BBC News channel last Sunday, 28 February, concerning the tax changes for landlords: http://www.bbc.com/news/business-35681874 It was shown at 07.28 and at 14.16, and presumably throughout the day. It propagated misinformation about the tax change, was biased against BTL landlords, and promoted a commercial alternative. My detailed complaints follow. The… Read more
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