Incorporating WITHOUT Refinancing

by Mark Alexander

6 months ago

Incorporating WITHOUT Refinancing

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Incorporating WITHOUT Refinancing

I am helping Cotswold Barristers to promote their BICT structure to accountants and would really appreciate some help.

Many accountants advise their clients on the various forms of incorporation relief but are completely unaware of this structure.

In many cases, landlords who are considering incorporation do not wish to refinance away from unbeatable mortgage rates or to pay early repayment charges. In fact, the cost of remortgaging and the likelihood of higher interest rates often results in incorporation not being viable despite the more attractive structure for tax and other purposes, e.g. no section 24 restrictions on finance cost relief and the ability to roll capital gains into shares in the company the properties are transferred into [section 162 TCGA 1992].

You can download a PDF via THIS LINK.

All you need to do when it opens is to save the document and attach it to an email to your accountants to ask them to provide their opinion on whether the structure could be of use to you or any of their other landlord clients.

Thanks in advance for your help.

Regards

Mark Alexander – founder of Property118 “The Landlords Union”

Comments

b

6 months ago

Hi Mark,
Are there any accountants whom you can recommend for BICT

Mark Alexander

6 months ago

Reply to the comment left by b at 27/10/2017 - 11:28
Yes, several.

Please email your details to mark@property118.com and I will endeavor to introduce you to an accountant who who is familiar with this structure in your area.

Details needed:-

1) Your address
2) Your contact telephone number
3) Number of properties in your portfolio
4) Average number of hours per week dedicated to running your property rental business
5) If any of your properties are HMO's or blocks of flats please advise the total number of tenancies
6) Are your properties held jointly or on trust for a partnership with its own UTR?
7) Total acquisition costs of properties including any capitalised improvements costs
8) Total mortgage balances outstanding
9) Total current value of your property portfolio

My email address is mark@property118.com

Chris Jordan

6 months ago

Hi, I submitted this to my accountant and his response to me was; 'Sounds ideal – what costs are involved – any idea?'

Are you able to help on this.

Thanks Chris

Mark Alexander

6 months ago

Reply to the comment left by Chris Jordan at 30/10/2017 - 14:47
Hi Chris

Yes of course, please see the link below

https://www.property118.com/incorporation-costs-less-might-think/


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