10:12 AM, 16th December 2022, About 12 months ago 6
Property118 members seem to love worked examples when it comes to understanding the principles of tax related to finance costs, so that’s exactly what my latest video on the Property118 TV YouTube channel provides.
I recorded this latest video below immediately following the Bank of England’s announcement that they had increased interest rates by a further 0.5% on 15th December 2022.
I hope you will find the video helpful in making decisions to adapt your own strategy to deal with the extremely challenging position that we landlords who are reliant on mortgages are finding ourselves in.
It’s not easy to sell property at the moment, which is why it’s so important for you to understand the position you are in and take positive action based on reliable professional advice, rather than burying your head in the sand.
The Property118 Tax team, in association with Cotswold Barristers, are specialists in advising on incorporation relief, but not all landlords qualify for reliefs to make a viable case to proceed down this path. Therefore, we also recommend a variety of other ownership structures.
All recommendations are bespoke, we do not believe in a ‘one-size-fits-all’ approach.
Our specialist landlord tax consultants provide guidance on the pros and cons of sole ownership, joint ownership, Partnerships, LLP’s, Limited Companies and Plc.’s as well as transitional relief available to switch between these various ownership structures. Our tax and legal team also provide guidance on non-resident status and benefits as well as property-related business continuity, legacy and inheritance tax planning.
Our barristers each carry £10,000,000 of Professional Indemnity insurance and prepare each case as if it will be investigated by HMRC.
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