Bank Base Rate Rise – Worked Examples for Landlords – NEW VIDEO

Bank Base Rate Rise – Worked Examples for Landlords – NEW VIDEO

10:12 AM, 16th December 2022, About 12 months ago 6

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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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17:39 PM, 16th December 2022, About 12 months ago

This should be sent to Jeremy Hunt & Gove, etc.,...But then maybe you'd be worried they'd try to clamp down on those who try to incorporate!
Would explain why many landlords are leaving the sector.

Mark Alexander - Founder of Property118

17:49 PM, 16th December 2022, About 12 months ago

Reply to the comment left by Lordship at 16/12/2022 - 17:39
Feel free to send it to them by all and any means, eg Tweet and tag or any other form of Social Media. That goes for all Members. The general public also need to understand this because mainstream media will never explain it to them.


12:37 PM, 17th December 2022, About 12 months ago

Reply to the comment left by Mark Alexander - Founder of Property118 at 16/12/2022 - 17:49
So, why have you or should I say Property 118 not done so already?

All these supporting landlord and property investor organisations you would hope will be doing all they can to try and get the ear of those in government. Not that us as individuals should try too.

Mark Alexander - Founder of Property118

12:54 PM, 17th December 2022, About 12 months ago

Reply to the comment left by Lordship at 17/12/2022 - 12:37
Ah, but I have!

Within a week of George Osborne announcing Section 24 in his 2015 Summer Budget I presented this exact scenario to The Treasury Head responsible for the implementation of S24. I also met with several MP’s at the house of Commons.

Property118 also raised £1,000’s to support “Axe The Tenant Tax” campaign to take the Government to Court. A Court hearing was declined despite Cherie Blair QC backing the arguments put forward.


14:23 PM, 17th December 2022, About 12 months ago

Yes, I remember the "Axe The Tenant Tax" campaign and went to the summit in London at the time.

Perhaps now we can re-state the argument now that it's actually here and happening and the effect it's having on tenants, landlords and those involved in the sector.

Interesting that George Osbourne said at the recent Negotiator Conference that “At the time we wanted to see a more level playing field in the sales market between first time buyers and landlords, and those measures were designed to do that,” But he thought that "the pendulum has swung away from landlords too much."

Mark Alexander - Founder of Property118

14:42 PM, 17th December 2022, About 12 months ago

Reply to the comment left by Lordship at 17/12/2022 - 14:23
They already know what the position is, but sadly they don't seem to care.

They will only begin to care when it starts to cost them votes

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