buy to let landlord tax saving scheme question

Jaysonrdr

Thanks for the help everyone, but it seems like the whole property 118 staff are all over the web posting very immature junk posts against every other critical post being made by from what i can tell some extremely well-qualified and long-standing people who are top in their respective fields , thats unless they are all fake on linkedin ??, this along with the ever now growing amount of online negativity surrounding property 118 and their gang i will seek out only qualified tax advice from companies who are actually regulated to do so. i suggest anyone else do the same , its just not worth the risk , with the added interest now from claims companies such as Elisium Law and Stewarts law all now targetting landlords who've become involved this could turn into a blood bath very quickly .

SDLT_Geek

There is a piece here about how Property118 and Cotswold Barristers implement their planning here: https://www.taxpolicy.org.uk/2023/11/09/badly/

SDLT_Geek

There is a further update on this.  The Chartered Institute of Taxation (CIOT) on 16 November 2023 put on line here https://www.tax.org.uk/hmrc-one-to-many-letter-capital-gains-tax-incorporation-relief-property-businesses information about HMRC's campaign targeting some landlords who incorporated their property businesses.  They are looking for cases where incorporation relief from capital gains tax might not apply in full.  The page has a link to the template form of letter HMRC are using.

GDB2222

AWMorris said:

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.

It is a problem, and sensible landlords should have set their gearing levels so that they can pay the tax. If, instead, they pay very large fees for a tax avoidance scheme, they ought to be incredibly confident that it works as intended. 

dimbo61

Hello J and welcome to MSE
I see your new to MSE and posting lots of comments about Property 118 !
So are you a Landlord ?
Do you have an accountant ?
How have you bought your BTL property ?
Limited company or in own name.
This is a very complex business your now involved in being a Landlord and changes by the Government and Councils plus HMRC , Shelter, and many other interested parties 🥳 
All helping the Private Rental Sector and of course all the happy tenants
Not just section 24 but S21 and Rental Reform Act.
Can't wait 

SDLT_Geek

There is an update on the position with Property118 here: https://www.taxpolicy.org.uk/2023/11/28/what_happened/