Book A Landlord Tax Planning Consultation Fact Find

This VERY IMPORTANT step in the Tax Planning Consultation booking process should take you less than a few minutes to complete. It is a dynamic form, meaning that different questions will be generated by the answers you provide. You will not be able to book a date and time for your video conference until this step has been completed.
What outcomes are you looking for from your Property118 Landlord Tax Planning Consultation?
- Guidance on the best ownership structure for my Buy-To-Let properties
- Retirement or Exit Strategies
- Pivoting Strategies
- Inheritance tax planning
- Business continuity and legacy planning
- More knowledge in regards to opportunities and rules associated with becoming non-resident for tax purposes
How many UK rental properties do you own as an individual or jointly with a spouse/partner?*
Please do not include your own home or any holiday homes or overseas properties or any UK rental properties held in a Limited Company, because HMRC applies very different taxation policies to these circumstances and regards overseas rental properties and UK furnished holiday lets as separate businesses.
Are any of these properties non-residential?
For example; lock up garages or commercial properties
- Yes
- No
Have you ever lived in any of your UK rental properties?
- Yes
- No
Did you acquire any of your UK rental properties as a gift or inheritance
- Yes
- No

Approximate total value of your privately owned UK rental properties? (please do not include your own home, properties held in a Limited Company or any holiday home, furnished holiday let properties or overseas property)*
Do you have any mortgage, loans or other liabilities secured against these properties?*
- Yes
- No
Total liabilities outstanding on your UK rental properties?*
Equity (auto calculated) in £
LTV (auto-calculated) as a percentage

Does your rental property rental business have a Partnership UTR?*
UTR = Unique Tax Reference number for the Partnership
- Yes
- No
If yes, when was the partnership commencement date?
This is the date the partnership was officially registered with HMRC
Do you spend more than 20 hours a week working in/on your rental property business?*
This includes activities delegated to employees, contractors or Agents acting on your behalf, the actions for which you remain legally accountable for.
- Yes
- No
Do you share income, expenses, profits and risk in regards to your property rental business with one or more co-owners?*
- Yes
- No
Are most of your properties owned individually or jointly?*
- Individually
- Jointly
Now that is interesting!

It appears you may be a Partnership by 'de-facto'
The Partnership Act 1890 Act describes a partnership as ….
'the relation which subsists between persons carrying on a business in common with a view of profit.’
Given that the existence of a Partnership is a matter of fact, your accountants should have advised you to register the Partnership with HMRC several years ago and submitted SA800 Partnership returns since then. However, given that you would have paid no more or less tax as a result of this, HMRC take a pragmatic view on oversights of this nature. The reason for this is that property investment was not regarded as a business activity by HMRC until the lost their case against Elizabeth Moyne Ramsay in the Upper Tier Tax tribunal in 2013. That case wasn’t widely publicised until much more recently, so in fairness to your accountants, that may well be why they wouldn’t have thought to register your Partnership.

Do you have any carried forward rental losses?*
- Yes
- No
Do you have any income (other than from property) which is taxable in the UK?*
- Yes
- No
Please provide more details of your other UK taxable income
Examples might include pension income, salary from employment , dividend income from other businesses, etc. The more information you can provide the better, e.g. "I am an airline pilot, my salary from that job is £87,000 a year and I also pay myself a dividend from another business of £2,000 a year."

Do you already own a Limited Company which owns UK rental properties?*
- Yes
- No
What is the full name of the company?
What is the total gross value of properties owned in this company?
What are the total liabilities of this company?

Are you and your co-owners UK resident for tax purposes?*
- Yes
- No
What is/are the name(s) of your co-owners?
In which Country are you resident for tax purposes?
When did you become non-resident?
Do you or your co-owners have any immediate plans to become non-resident?*
- Yes
- No
Please tell us more about your plans to become resident in another Country

Do you own your own home?*
- Yes
- No
What is the approximate value of your home?
Do you have a mortgage on your own home?
- Yes
- No
Approximately how much is the the outsanding balance of the mortgage secured on your home?
Equity in your home (auto-calculated) in £
Home mortgage LTV % (auto calculated)

What is your personal status?*
- Married
- In a relationship with a long term partner
- None of the above
Spouse / Partner Name
Spouse / Partner income (other than from property rental)
Spouse / Partner Occupation

How many children do you have?*
What are the names, ages and incomes and occupations of your children?
This information is necessary for us to consider business continuity, legacy planning and inheritance tax planning. If you have adult children and you don't know how much they earn, please provide a rough guess at this stage.

Are you considering selling any of your properties?*
- Yes
- No
Is it likely that you will acquire any additional investment properties?*
- Yes
- No
Source of funds for further investment
- Savings / cash in bank
- Refinance of own home
- Refinance of existing rental properties
- Sale of property
- Other
Please add further notes regarding your source of funds for further investment
Funds Available For Investment

Book My Tax Consultation

STEP FOUR OF SEVEN

Fact Find Questionnaire

Step 1 of 10

Now that is interesting!