Lee Gough

Registered with Property118.com
Thursday 4th July 2013


Latest Comments

Total Number of Property118 Comments: 35

Lee Gough

A day ago
Why UK landlords are flocking to Portugal

Reply to the comment left by Kenneth Fowler at 18/08/2018 - 08:59
Hello Kenneth, like Mark said long term lets i.e. 12 month contracts are very hard to find, normally these are by word of mouth.
These are some sites that do long term lets, again mostly will be winter lets.
https://www.casasdobarlavento.com
https://www.lagoslonglets.com/
http://www.almaverde.com/en/
The last one ‘Almaverde’ we did a ‘long let’ month to month but they would not do a long term contract only a holiday contract so was no good for NHR.
We had to buy in the end as wanted to get NHR as soon as possible.
I hope this helps.... Read More

Lee Gough

5 days ago
Why UK landlords are flocking to Portugal

Reply to the comment left by S Somerset at 14/08/2018 - 10:51
Thank you, we are in Praia da Luz, ' Beach of the Light '... Read More

Lee Gough

A week ago
Why UK landlords are flocking to Portugal

Reply to the comment left by CazT at 12/08/2018 - 12:53
We have properties in Spain and looked to move there but did not have the tax advantage Portugal does. And yes you are right the weather is better for us in Portugal with the breeze from Atlantic.... Read More

Lee Gough

A week ago
Why UK landlords are flocking to Portugal

I would like to thank Mark for taking the time to share this article.
After Section 24 was announced, I arranged meetings with accountants to find how this would affect my business. After the meetings I had two options. Incorporate or become a non-resident.
I chose to become a Non Resident as I wanted to reduce the portfolio as I could only see the UK government doing a lot more landlord bashing in the future. This was not an easy decision as we had our children, family, friends, animals and the UK ‘Was’ our home. What seemed at the time devastating has now turned into a blessing.
I now have the NHR, and this was a fairly simple process which took about 48 hours to obtain by my accountant here in Portugal, as long as you meet certain criteria.
Where do I start with advantages of moving to Portugal...? Foremost is my family’s happiness and wellbeing. My children go to an International school and they smile every day they go and also when they come back. My wife and I have made many good friends while we have been living here over the last 3 years. The obvious advantage is the weather; I certainly don’t miss the rain.
Yes there are disadvantages as in previous posts about cars being expensive; to be honest nobody really bothers about having the best and newest car. As long as the car is roadworthy and it gets from A to B most people seem happy. I think it must just be a UK mentality where we need to have a new car all the time.
Has it changed my life? In so many ways, it’s not just the big things but lots of small things which have made a big difference. In the UK my wife would walk the dogs, normally it was raining. Now I suggest we walk them as its pleasure. Exercise used to consist of going to a gym looking at a screen now it’s on the beach boot camp in the sun. Eating out can be expensive in UK but once you live in Portugal you can have a 3 course meal in the sun with wine 10 euros. I think one of the best changes is that it has opened my children’s mind to think the world is a small place and that they can live and work anywhere.
I believe this is Europe’s best kept secret. I was advised of eight of the best countries for tax purposes. Portugal came out number one for me personally. Why. It just ticked all my boxes.
1. Easy and cheap access for friends and relatives, sometimes as cheap as 1 euro!
2. Safety, personally and politically ‘Ranked number 4 on The World Peace Index’
3. Weather
4. Easy access to other countries by air, train or road
5. Countryside is greener than most other hot countries
6. Schooling
7. Price of property
8. Council tax 42 euros for the year on our rural house compare that to UK
If I had any tips to give it would be if you have ever dreamt about living in the sun do it now.
The NHR won’t be around forever and the advantage of no CGT to pay in Portugal on capital gains realised in the UK and to pay HMRC only tax on capital gains made after April 2015 for non-residents make it a compelling reason.
Take professional advice as there can be pitfalls. If Mark is offering this service take it. I am sure it must be tax-deductible.... Read More

Lee Gough

A week ago
Why UK landlords are flocking to Portugal

Do you already have NHR status?
What are the advantages and disadvantages of emigrating to Portugal?
Are you happy you moved?
How has it changed your life?
Have you incorporated your business and if not, why not?
Can you share any tips?... Read More