buy to let landlord tax saving scheme question

Jaysonrdr

does anyone have any contacts for reputable tax advice for landlords and tax restructuring.?
im looking for regulated professional companies only please , i had been in talks with property118 in recent months but they are very sales pushy and the fees are really high , whats confused me greatly is a recent article by dan neidle at property tax associates saying property118s scheme could be a potential avoidance scheme and i am scared to death of getting involved, any advice is helpfull for us , 

theartfullodger

Which of the 10+ taxes a landlord may pay are you concerned about please??

Just pay the tax you should pay - many honourable and decent citizens consider this is the the correct approach.

Best wishes to all.

SDLT_Geek

Jaysonrdr said:

does anyone have any contacts for reputable tax advice for landlords and tax restructuring.?
im looking for regulated professional companies only please , i had been in talks with property118 in recent months but they are very sales pushy and the fees are really high , whats confused me greatly is a recent article by dan neidle at property tax associates saying property118s scheme could be a potential avoidance scheme and i am scared to death of getting involved, any advice is helpfull for us , 

Dan Neidle's excellent main report can be found here: https://www.taxpolicy.org.uk/2023/09/13/property118/

There are follow ups here: https://www.taxpolicy.org.uk/2023/09/22/amazing/ and here https://www.taxpolicy.org.uk/2023/09/15/section24/

_Penny_Dreadful

Tax adviser isn’t a protected profession like say a chartered accountant. Anyone who gives tax advice can call themselves a tax adviser. 

There isn’t much a BTL landlord can do to structure their tax other than ltd company versus sole trader.  Usually it helps to pick one route before you acquire the BTL property otherwise you face a CGT bill when transferring from one to the other and potentially SDLT/LTT/LBTT on the transfer as well. 

The other wheeze is when married couples have one high earner and one low earner and split the ownership 1/99.  

Newheight13

I have purchased a BTL property and am die to complete shortly. Can I only register as a limited company if the mortgage was a limited command mortgage? 

SDLT_Geek

Newheight13 said:

I have purchased a BTL property and am die to complete shortly. Can I only register as a limited company if the mortgage was a limited command mortgage? 

It would help to know if you have exchanged contracts yet.  If you have, presumably that is in your own name?

SDLT_Geek

According to this page https://www.property118.com/allegations-made-by-dan-neidle-of-tax-policy-ltd-statement-from-property118-and-cotswold-barristers-2/ advice is being sought from a leading barrister on the approach of Property118.  It is possible for potential clients to register to receive a summary of the advice, once it is finalised.

AWMorris

Jaysonrdr said:

does anyone have any contacts for reputable tax advice for landlords and tax restructuring.?
im looking for regulated professional companies only please , i had been in talks with property118 in recent months but they are very sales pushy and the fees are really high , whats confused me greatly is a recent article by dan neidle at property tax associates saying property118s scheme could be a potential avoidance scheme and i am scared to death of getting involved, any advice is helpfull for us , 

Have you seen the rebuttal? Google:

Property118 and Cotswold Barristers Rebuttal of Dan Neidle’s Allegations

And you should find it.

AWMorris

theartfullodger said:

Which of the 10+ taxes a landlord may pay are you concerned about please??

Just pay the tax you should pay - many honourable and decent citizens consider this is the the correct approach.

Best wishes to all.

This relates to Section 24 on income tax. That could have a landlord paying tax on a loss. If a property is held in a limited company, 19% is due; if it’s held personally, over 100% might be due. This isn’t about saving a bit if tax, it’s about survival. There’s nothing honourable and decent about taxing people on a loss and forcing them to sell up of go bankrupt.

Mrs_pbradley936

Jaysonrdr said:

does anyone have any contacts for reputable tax advice for landlords and tax restructuring.?
im looking for regulated professional companies only please , i had been in talks with property118 in recent months but they are very sales pushy and the fees are really high , whats confused me greatly is a recent article by dan neidle at property tax associates saying property118s scheme could be a potential avoidance scheme and i am scared to death of getting involved, any advice is helpfull for us , 

Have a chat with Fiona from here https://www.bellhowleyperrotton.co.uk/

SDLT_Geek

SDLT_Geek said:

According to this page https://www.property118.com/allegations-made-by-dan-neidle-of-tax-policy-ltd-statement-from-property118-and-cotswold-barristers-2/ advice is being sought from a leading barrister on the approach of Property118.  It is possible for potential clients to register to receive a summary of the advice, once it is finalised.

The opinion of the barrister can be found here https://taxpolicy.org.uk/assets/TPAL_markup_of_KC_summary.pdf with annotations by Tax Policy Associates.