Property118 and Cotswold Barristers Rebuttal of Dan Neidle’s Allegations

Property118 and Cotswold Barristers Rebuttal of Dan Neidle’s Allegations

17:30 PM, 3rd October 2023, About 8 months ago

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Kings Counsel has confirmed the correctness of our approach to incorporation.

Why we have only published a holding response to Dan Neidle’s articles (until now!)

Given the extremely damaging nature of Mr Neidle’s article, and the distress it has caused to our existing clients and their trusted advisors, we knew we needed to seek professional help from a specialist solicitors’ firm.

Their advice was to appoint an independent Tier 1 Tax Kings Counsel (and junior barrister), at arms’ length, to conduct a comprehensive review of Mr Neidle’s articles as against our advice and processes in order to assess the correctness of our approach. This included providing, under legal privilege, actual client files, including files that HMRC had reviewed. These files contained evidence of the detailed nature of HMRC’s enquiries, and the complete transparency our clients and their advisers bring to dealings with HMRC. No-one at Property118 or Cotswold Barristers had any influence over the content of the KC’s advice, as it had to remain a process of integrity.

Naturally, that process took a significant amount of time to complete.

Felicity Cullen KC of Devereux Chambers was appointed by our solicitors because she is ranked as Tier 1 Kings Counsel and specialises in this form of tax. She is well known for her ‘robust approach’ to projects of this nature. She has given permission for people with a legitimate reason to see her advice. Felicity took silk in 2008, becoming the first woman Silk in specialist tax chambers. She has been in practice since the mid 1980s, having started life at the tax bar at Gray’s Inn Tax Chambers. In 2012 she became a CEDR Accredited Mediator and has observed several commercial mediations. The Chambers UK Bar Awards shortlisted her as ‘Silk of the Year’ for Tax in 2015.

We have also sent a copy of Felicity’s advice to Mr Neidle along with a request for substantial revisions of his articles. In fairness to him, once he had seen we were going down this path he did ask for us to correct any errors identified by our KC so he could publish amendments.

Next steps

A detailed summary of our KC’s advice is being shared with our existing clients and their professional advisers, including their existing and future mortgage lenders, but only on request and subject to them providing an irrevocable undertaking not to share or publish it without our express written consent.

The above will also apply to Mr Neidle, with the added condition that the only purpose is for him seeing the advice is to fulfil his undertaking to issue corrections of his articles where he is in error.

We remind the reader that not a single instance of any of the detriments predicted in Dan Neidle’s article has ever happened in nearly 8 years of casework on these structures. We estimate 15,000+ personal and corporate tax returns have been filed by the clients who have used the Substantial Incorporation Structure.

Our paramount commitment is to provide outstanding service to our valued clients and meeting the stringent requirements set forth by our clients, their lenders, and HMRC. These entities hold us accountable, and our longstanding track record of ensuring their absolute satisfaction is a testament to our ongoing commitment.

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19:35 PM, 3rd October 2023, About 8 months ago

Brilliant, class all the way, its not the ups and downs its the Jerks in the middle lol Due to the last dramatic few years im back in the saddle so to speak, and yep easy to let things go, im dumbfounded by some of the low standards ive encountered from my property business contacts, but not property118, they have handled this with the upmost of professionalism, one could ask for, thank you! The Smileys x😊


20:07 PM, 3rd October 2023, About 8 months ago

Surely all they have done is to confirm your opinion?

Justin Lee

22:56 PM, 3rd October 2023, About 8 months ago

Has anybody just seen Tax Policy Associates report today that quotes that the directors loan is absolutely tax avoidance in no uncertain terms and the HMRC will be coming after us. I am more worried now than ever before.

Susan Bradley

23:12 PM, 3rd October 2023, About 8 months ago

Reply to the comment left by Justin Lee at 03/10/2023 - 22:56I should think that anyone remotely interested in the topic will have seen it. Do not panic or worry. You took what you believed to be professional advice - you have done nothing wrong. The solicitors, barristers, tax advisors and accountants will spend years sorting it all out. I will likely be 6 feet under by the time it is settled so I am not at all concerned. Neither should you be.


8:41 AM, 4th October 2023, About 8 months ago

Well done!!!

Susan Bradley

10:53 AM, 4th October 2023, About 8 months ago

Reply to the comment left by MessiahOfBodmin at 04/10/2023 - 10:11
The Loan Schemes you mention are nothing at all like the Directors loan which some (not all) people can have if they follow the advice from Property118. I am not paying myself a salary via a loan. I am not using a "disguised renumeration service". HMRC have never approved of such loans. This is in complete contrast the the well documented available for all to see HMRC tax manual quotes that Property118 provide. Anyway we shall wait and see what happens next.

However so far the HMRC have disbanded the group it set up to investigate Family Investment Companies. Anyone that has been questioned by HMRC about their incorporation with Property118 has had no further action than a letter asking for clarification. Last but not least the team of Mark Alexander and Mark Smith have already made financial and legal history with their West Bromwich Mortgage Company outcome. I know who I am backing in this skirmish.


11:25 AM, 4th October 2023, About 8 months ago

Reply to the comment left by Olls63 at 03/10/2023 - 20:07
via Tier 1 Tax Kings Councel, now thats better than click bait fake news sensational headlines imho lol 😊


11:54 AM, 4th October 2023, About 8 months ago

Reply to the comment left by MessiahOfBodmin at 04/10/2023 - 11:50
And there is no time limit. The Ingenious Films case which relates to 2003/04 loss relief is only now being settled. Thats 19 years of interest due to HMRC.


13:43 PM, 4th October 2023, About 8 months ago

Reply to the comment left by Olls63 at 04/10/2023 - 11:54
lol you and the messiah, thats a joke, are using the ol "everyone who ate carrots 150 years ago are dead, proving carrots kill", Ingenius the film scam, artificially created losses lol thats a scam in any ones book. by incorporating ive simply levelled up with anyone who say has purchased any business, hotel, garage etc we are not property investors, doing nowt, we are hands on landlords doing a good service housing folks, all over the UK. Please have some dignity, dont be silly billys, go and troll ya nonsense on facebook, and have the guts to do it on your own timelines, in your own names, Smiley is my real name, whats yours? ya families can then see what ya playing it, its so non productive sitting there in ya underwear, keyboard warriors, thats a Joke. Before all this their was a court case where folks like me were deemed to be a business, just cant find the details, we are hardened landlords trolls, so creep back in that ol sewer please, ya emotional mind games and words mean zero, new folks remember if ya want to be a brain surgeon councel with brain surgeons not trolls, their contribution is that of a scorned human being for sure. imho xxx 😊

Seething Landlord

14:00 PM, 4th October 2023, About 8 months ago

Reply to the comment left by Smiley at 04/10/2023 - 13:43
Why not respond with something more intellectually mature, such as "yah, boo, sucks to you"?

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