Tax Planning For Individual Buy to Let Owners

by Readers Question

10:19 AM, 2nd February 2017
About 2 years ago

Tax Planning For Individual Buy to Let Owners

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Tax Planning For Individual Buy to Let Owners

I have 10 Buy to Lets in Kent worth approximately £1.5million before CGT.

Mortgages £18,000 year. Yearly rental £85,000. Most of my tenants are long term 3-5 years and this year I have increased rents moderately. I don’t want to increase rents further as I will lose good tenants.

I am open to moving abroad if necessary. I am a retired nurse and gave up work to look after my parents who live with me and are not in good health. I am in the process of selling a property I rent out (that will have low CGT as I lived in it for 11 years). This will give me capital to either pay off 2 mortgages or finance a tax planning strategy.

I would like to incorporate but I am not married or have anyone to go into partnership with. Has anyone got any suggestions to help mitigate the effects of the new tax rules?

I have considered a private consultation with Mark Alexander but he doesn’t seem to advocate anything for the sole owner!

Shelley



Comments

Mark Alexander

10:48 AM, 2nd February 2017
About 2 years ago

Hi Shelley

Given what you have said I may be able to help but I would need a lot more personal information and a forum is not the right place for that.

My consultations are a zero risk proposition on the basis that I offer a total satisfaction or full refund guarantee. if I cannot help you I would refund you in full.

I see that you made a very generous donation towards the running costs of the forum. I would be happy to reduce my consultancy fee by that amount in terms of an instant refund as soon as your consultation booking is made. Please see >>> https://www.property118.com/optimal-tax-planning/91857/

When making the booking, please enter numbers only into the numeric fields. We have realised that commas and £ signs etc. stop the submission and our website guru's are working to get that fixed.
.

Shelley Kearney

13:29 PM, 2nd February 2017
About 2 years ago

Reply to the comment left by "Mark Alexander" at "02/02/2017 - 10:48":

Thank you Mark . I will definitely book a chat with you. I have been researching ways to incorporate but every article talks about transferring property to a spouse or forming a partership. I don't want to marry for tax purposes!!!

Although I think I am able to absorb a lot of the new expenses I am still interested in long term planning. Speak to you soon Shelley

bob the builder

17:11 PM, 2nd February 2017
About 2 years ago

As a single person I will also be booking my spot with Mark just as soon as I can get some spare time, currently sorting out an empty one...

Shelley Kearney

11:54 AM, 3rd February 2017
About 2 years ago

Wow I just wanted you all to know I have just got off the phone from Mark Alexander - and its just a day after my original post! I was impressed how he grasped my business situation so quickly and was on the same wave length in terms of my need to plan for the future. Mark was very clear, explaining and sometimes having to illustrate things I hadn't quite grasped. Mark is very personable and not pushy at all. He wasn't doing any hard sell but trying to use his experience to help me.

Mark has a great deal of knowledge and presented me with options that I wasn't aware of - evethough I have done quite a bit of research. I think only someone who has practical experience like himself can present the options in laymans terms. I look forward to his written report of our conversation as there is a lot to consider.

I feel quite encouraged that as an individual who wants to remain in sole control of my property portfolio there are ways to take advantage of Incorporation. I would recommend a consultation with Mark, by getting the right advice its up to you to make the right decision.

Mark Alexander

0:18 AM, 4th February 2017
About 2 years ago

Reply to the comment left by "Shelley Kearney" at "03/02/2017 - 11:54":

Thank you Shelley, hopefully you will be equally impressed with my report which you should have received.
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Shelley Kearney

9:27 AM, 4th February 2017
About 2 years ago

Thank you Mark for the very detailed and easy to follow worked example following our telephone consultation. Lots to think about and digest. I am delighted to find a way forward after going round in circles in my head for months.

I shall be speaking to my accountant next week with a view to moving forward on the strategy you have suggested. I will be in contact soon. Best wishes Shelley

Shelley Kearney

11:14 AM, 10th February 2017
About 2 years ago

Hi Mark I wanted to update you and your readers. Since contacting you last week for a personal consultation I have be able to make some concrete decisions about my business and incorporation. I have initiated the first step you suggested and am very positive about the future.
Although I follow Property 118 and read the articles it doesn't replace having your personal support. I think the added dimension of speaking to you, being able to ask you questions and your detailed emails have really given me confidence. I feel that you have done all the leg work in terms of getting the right structure in place and now if I follow your tried and tested plan all will be well.

This is a long process so I'll keep you updated best wishes Shelley


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