Testimonial for Property118 Tax Planning

by Readers Question

8:51 AM, 19th October 2020
About a month ago

Testimonial for Property118 Tax Planning

Make Text Bigger
Testimonial for Property118 Tax Planning

In our 20+ years as landlords we have engaged three sets of accountancy firms.

Our family business provides rental accommodation for nearly 300 people and we have always operated through a Limited Company structure.

A few weeks ago I watched a YouTube video in which Mark Alexander was interviewed about Smart Property Company structures, following which I immediately found Property118 an booked a tax consultation. I am so delighted I did, what an eye opener!

None of my accountants had ever mentioned the benefits of having a variety of share classifications. Our shares are owned equally between all family Members and all shares have exactly the same rights, despite the fact that we all have incomes from a variety of other sources and pay tax at different rates. Having watched the video, I now realise that all three accountancy firms we have worked with over the years have let us down badly.

No advice has been given to us by any of our Accountants in regards to inheritance tax planning and when we have previously declared dividends we have all paid tax at our marginal rates. Two sayings spring to mind; 1) we don’t know what we don’t know and 2) we are where we are.

Our Consultation with Property118 focused on the optimal share ownership structure for our business. I will not go into the specific detail of what was discussed and agreed because that is private, confidential and only applies to my family business, save to say the modified share structure of our property investment company will save us several thousands of pounds every year in income tax and potentially millions in IHT.

Editors comments

The author of this testimonial requested to remain anonymous. The links within this article have been added by Property118.  If you would like to discuss the ownership structure of your own property rental business with a member of the Property118 tax team, please complete the enquiry form below.


Share this article

Twitter Facebook LinkedIn

Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

OR

BECOME A MEMBER

Latest tier restrictions are a pretty blatant attack on less wealthy areas of the country

Landlord incorporation and tax planning presentation

Landlord incorporation and tax planning presentation

The optimal ownership structure for UK landlords

The optimal ownership structure for UK landlords

Landlord Incorporation Specialists

Landlord Incorporation Specialists

Incorporation relief and latent gains explained

Incorporation relief and latent gains explained

Incorporating your property portfolio without having to refinance

Incorporating your property portfolio without having to refinance

Landlord Incorporation Strategies – Update for 2020

Landlord Incorporation Strategies – Update for 2020

Capital Account Restructure – Case Study

Capital Account Restructure – Case Study

What Does “Washing Out CGT On Incorporation” Actually Mean?

What Does “Washing Out CGT On Incorporation” Actually Mean?

Stamp Duty when transferring the ‘whole business’ of a Partnership into a Limited Company

Stamp Duty when transferring the ‘whole business’ of a Partnership into a Limited Company

Software to analyse the viability of transferring a property rental business into a Limited Company

Software to analyse the viability of transferring a property rental business into a Limited Company

Inheritance tax and legacy planning for property company owners

Inheritance tax and legacy planning for property company owners

HMRC Internal Manuals ‘Landlord Incorporation’

HMRC Internal Manuals ‘Landlord Incorporation’

On-demand webinar explaining the uses of Limited Liability Partnerships “LLP’s” for landlord tax planning

On-demand webinar explaining the uses of Limited Liability Partnerships “LLP’s” for landlord tax planning

Guide for landlords on forming an LLP for property investment

Guide for landlords on forming an LLP for property investment

LLP structure reduces landlords tax bill by 85% – CASE STUDY

LLP structure reduces landlords tax bill by 85% – CASE STUDY

Partnership taxation and associated rules

Partnership taxation and associated rules

Business continuity and succession planning for landlords

Business continuity and succession planning for landlords

Property valuations for tax planning purposes cost just £19.95 each

Property valuations for tax planning purposes cost just £19.95 each

Hybrid Tax Structure – Landlords BEWARE!

Hybrid Tax Structure – Landlords BEWARE!

Tax Planning Bodge Jobs – Limited Liability Partnerships “LLP’s”

Tax Planning Bodge Jobs – Limited Liability Partnerships “LLP’s”

Landlords Tax Planning Bodge Jobs – inter company lending

Landlords Tax Planning Bodge Jobs – inter company lending

Book A Consultation

Book A Consultation

A Landlord’s Tax Planning Disaster

A Landlord’s Tax Planning Disaster

Just say NO to tax avoidance “schemes”

Just say NO to tax avoidance “schemes”

Using a property investment LLP for school fees planning purposes

Using a property investment LLP for school fees planning purposes

LBTT for sole owner landlord incorporation in Scotland

LBTT for sole owner landlord incorporation in Scotland

Stamp Duty relief on properties split into multiple dwellings

Stamp Duty relief on properties split into multiple dwellings

Expat Landlords Tax Planning Opportunity

Expat Landlords Tax Planning Opportunity

Open A Business Bank Account In Minutes

Open A Business Bank Account In Minutes

Why we don’t apply a ‘one-size-fits-all’ approach to landlord tax planning

Why we don’t apply a ‘one-size-fits-all’ approach to landlord tax planning

Four Property Investment Structures – Video Interview

Four Property Investment Structures – Video Interview

Smart Property Company Structures

Smart Property Company Structures

UK GOVERNMMENT 2021 CGT REVIEW PROPOSALS

UK GOVERNMMENT 2021 CGT REVIEW PROPOSALS

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More