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  • Tax

    Incorporation Relief

    There is a chap called Carl Bayley, a Chartered Accountant .  

    He has written a very helpful book entitled “Using a property company to save tax”.  Tad expensive but a good read. Published by Tax Cafe.

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    Pete

    The Astute Landlord


    Thanks Pete. I'll look it up.

    Will obviously get a 20% refund on it as I'll save on the CT

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    20% CT - you mean your rental business is incorporated ?  How could you do that to yourself, your wealth and future generations ?!?  

    I jest, of course.  Next time out i intend to purchase through a LTD company.  Ideal for my circumstances .  Dyslexic landlord will back me up on that one.




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    Pete

    The Astute Landlord

    I think there is a case for a company structure

    If you have exhausted the BTL opportunity in your own name ie S24 ect 

    there is opportunity to use a Company 

    They are good for succession planning and they are very good for pension planning 

    They are not good if you are a higher rate tax payer and you want income

    But again you have flexibility on share ownership

    Its all a juggle and its all down to what fits your plans personalty

    My view is Govt will increase the 20% threshold and this will help with S24 

    so most landlords may find they are effected by S24 but may not be effected in 5 years time 

    Inflation is kind to property in more than one way 


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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    I’ve bought this book and it is excellent. Tip. Buy it direct from Taxcafe and not Amazon.  If you buy other books you will get a good discount. I bought 5 books and got 40% discount. They also email you links which means you can download the books in PDF format (they also post you the paperback versions) and read them on your iPad.
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    Great tip.  I will do this in future.

    Much appreciated!
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    Pete

    The Astute Landlord

    Interesting stuff Tony. I must admit I can see many drawbacks with the limited company route which you so eloquently point out. I need to check out what you are saying. My first impression is that it sounds too good to be true and if it’s too good to be true then I need to be very wary.

    From the limited research I’ve done so far I don’t understand how HMRC would treat a property investment business the same as a property trading business. They are 2 completely different things. I thought HMRC treated your business as it actually was and not as you the client would like it to be. Therefore I can foresee future problems when HMRC say it’s an investment business not a trading business and this could cause a lot of financial problems in future.

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    Very much hear what you're saying, but the devil is in the detail and it's where we score over almost every other firm in this space.  Mind you, sometimes a cigar is just a cigar, and not everything that sounds too good to be true is BS.

    Everything we do is based on HMRC guidelines and precedent.  Moreover, HMRC have looked at what is an everyday business structure for one of our’ largest clients who is now going on to float his business on AIM and, once they understood both the motivation and methodology, were perfectly happy that it was within the rules.  Moreover, we have clients where BPR has been granted and more besides.

    Always happy to chat, as much beyond the generics that either of us are prepared to discuss on what is an anonymous public forum, the real discussion will be based on your personal circumstances.

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    Tony Gimple

    Founding Director

    Less Tax For Landlords

    0203 735 2940


    Hi Tony,

    I’m having a lot of trouble with the PT website. I can’t post from my Mac and can’t answer your PM from my Mac or IPad. I’m going to complete your Initial Assesment form on your website and take it from there.
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