10:19 AM, 2nd February 2017, About 5 years ago 7
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!
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