Is Your Accountant More Of A Book-Keeper Than Tax-Planner?

by Mark Alexander

7 months ago

Is Your Accountant More Of A Book-Keeper Than Tax-Planner?

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Is Your Accountant More Of A Book-Keeper Than Tax-Planner?

Having a good accountant to check your books, make sure you claimed for everything you should and nothing you shouldn’t is very important.

At this time of year, we are all dealing with just that, our year end tax returns and paying our tax by 31st January.

However, has your accountant taken time out to explain how the restrictions on finance cost relief will impact you, and more importantly what you might be able to do about it?

If not, we will be very happy to help. We will also be pleased to offer second opinions if you have already taken tax planning advice elsewhere.

Landlord Tax Planning Consultancy is the core business activity of Property118 Limited.

Landlords with 10 or more properties tend to have significantly more tax planning options available to them. That said, people who own just one rental property can still save more tax than the cost of a consultation within a year. Regardless of the size of your property rental portfolio, we urge you to book a consultation. With our total satisfaction guarantee you have absolutely nothing to lose.

The fixed fee we charge for private tax consultations (online and by telephone) is just £400 inclusive of VAT and includes the following:-

  • Detailed fact find
  • Written report and recommendations with links to appropriate legislation or HMRC manuals as appropriate
  • Follow up Q&A emails
  • A telephone conference with your existing professional advisers (if necessary)
  • A guarantee of total satisfaction or a full refund.
Show Book A Tax Planning Consultation Form

Book A Tax Planning Consultation Form

Consultations include new client compliance checks, fact find via email with complimentary software, expert analysis, a detailed written report and recommendations and a 30 minute Q&A session via Skype or telephone. We GUARANTEE total satisfaction or a full refund.
  • Please provide an overview of your circumstances and what you are looking to achieve.
  • If you have a spreadsheet with details of your properties please upload it here.
  • Price: £ 400.00
  • £ 0.00
  • American Express

We offer fixed fee tax planning consultations with a guarantee of total satisfaction or your money back.

PS – this is the profile of our typical tax planning consultancy client:-

  • 47 to 56 years old
  • 13 to 34 rental properties owned
  • hasn’t purchased many properties since 2009
  • some properties in sole name, others jointly with spouse/partner for historical mortgage purposes
  • several highly competitive tracker mortgage rates which are well worth keeping
  • has teenage or young adult children who are or will soon be in higher education
  • frustrated and feeling like they are paying too much tax, and worse is yet to come

Is this you?


Adrian Alderton

7 months ago

Mark I had previously considered your tax planning service as I think my partner and I would qualify as a property business partnership and potentially incorporate in the future. The two stumbling blocks are
1. we use much of the rental income currently as living expenses.
2. My accountant says we would not be able to pay off the mortgages in our jt names if we incorporate in the future as we could not draw against a directors loan account - 'properties are currently mortgaged and the company will no doubt take out a mortgage to replace it? But you have no entitlement to withdraw anything from the company to enable you to use that re-mortgage to pay off your existing mortgage, as you won’t have a director’s loan account to draw against. You will have received shares, not a loan balance, and you can’t draw against shares'.
Am I right in thinking future incorporation via a partnership will not therefore work for my partner and I.

Mark Alexander

7 months ago

Reply to the comment left by Adrian Alderton at 18/01/2018 - 19:08
Hi Adrian

Your accountant is wrong.

If the deal is structured correctly, the contractual liability for all the loans shifts to the company. The property sits on the company balance sheet as an asset and the responsibility for the mortgages sits on the company balance sheet as a liability. On that basis the company can pay down the loans without affecting your personal tax position.

I am unable to comment on whether it may be possible to organise your finances prior to incorporation so as to have a Directors Loan Account post incorporation without further detailed information.

I don't understand why you haven't booked a consultation. If/when you do, you will have a full analysis of our bespoke recommendations to you, which you can share with your accountant. The report will provide links to the legislation and HMRC internal manuals which our recommended restructure relies upon. If you are not entirely satisfied you can claim a full refund. What have you got to lose?

At the moment, it seems your accountant is trying to second guess the structure we might recommend, and then critiquing the holes he is finding in his own conclusions. Would you not prefer him to critique the method we actually recommend and to ask any technical questions he might have to our Barrister?

Susan Bradley

7 months ago

Hi mark just looked at the profile of your typical tax planning customer and that is me! My husband and I are both higher rate taxpayers, have formed a partnership and have had clearance from HMRC that we can incorporate without paying stamp duty or capital gains tax. We are still hovering however as to whether or not to incorporate as we don’t have many loans and are unsure how to get the money out without double taxation. Could you help us do you think?

Mark Alexander

7 months ago

Reply to the comment left by Susan Bradley at 19/01/2018 - 11:52
Hi Susan

Without a full understanding of your finances I will not know for certain whether I can help you until we have completed the consultation. What I can assure you of at this stage is total satisfaction or a full refund of your £400 consultation fee.

I look forward to receiving your booking.

Mark Alexander

7 months ago

Reply to the comment left by Susan Bradley at 19/01/2018 - 11:52
PS - please take a look at the case study linked below.

Marlena Topple

7 months ago

I would thoroughly recommend booking a tax consultation. We will save considerably more than the cost of the consultation and really benefited from the 30 minute phone consultation to talk through recommendations and our potential future strategies.

I am a small BTL investor ( 2 properties) and a high rate tax payer.
I recently evicted a tenant and did a resonable size refurb. Can i claim all repairs and get benefits of the expenses?
Will this tax planning be beneficial for people like me ?

Mark Alexander

5 months ago

Reply to the comment left by RONNIE ADERIANWALLA at 03/03/2018 - 13:15
Hi Ronnie

There is only one way to find out whether the consultation will be of benefit to you, and that is to go ahead and book. If you are not entirely satisfied then you can claim a full refund under our guarantee of total satisfaction.

Gary Ablewhite

5 months ago

Reply to the comment left by RONNIE ADERIANWALLA at 03/03/2018 - 13:15
It’s a no brainer! I’ve used this service and it’s well worth the £400. If not get your money back.

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