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I’ve heard the pitch and really can’t see how! Claims are incredible and I have 27 years tax experience!
Anyone seen the detail and been convinced?
I’d rather carry on the well trodden path of incorporation.
Hi Sanjay,Tony Gimple of LT4L is a member here, so I expect you will hear from him!!We have these discussions that may assist you:LLP/BICT - feeling wobbly about tax structureTony Gimple (Hybrid) v Mark Alexander (BICT)Hybrid structure - experience Why BTL incorporation is an expensive mistake
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I agree with you
Director of Tax Peplows Limited
CTA ACA FCCA
I have the same opinion of anyone who says 'Landlords must incorporate' as I do of anyone who says 'Landlords shouldn't incorporate'. If there was one perfect solution for all landlords there would be no questions. As it is, we're all different and require different solutions.
Really would be nice if, after hearing the 'pitch', you asked us first about how we can legitimately and wholly successfully do what we do before resorting to a public forum where sadly not all the respondents are as knowledgeable or impartial as one would hope.
Very happy to answer detailed questions, and perhaps you can please let me have your contact details; unless that it is you want to remain anonymous. We've nothing to hide, and publish who we are and how you can contact us.
Meanwhile, we have a 100% record with HMRC, and have other firms of chartered accountants, tax accountants, IFAs and the like using us for both their own affairs and their clients.
Less Tax For Landlords
I’ve had a teleconference with one of your colleagues at length and various email exchanges too.
Happy to reproduce them on public forum but I’m too professional to do so.
I’m resorting to “public forum” as I want to hear from real people that have actually undertaken the planning (passed the various enquiry periods) and the DD they did on the “structure”.
I’m not anonymous and anyone can reach out to me at email@example.com. I’ve had 27 years experience with MH, Grant Thornton, KPMG and RSM... working with HNW clients and heading private clients.
Hope I hear from you direct any time but also happy to discuss on public platform too.
Nothing to hide and 100% about helping clients over fees.
i am effected by S24
and I sought advise from three of the largest accountancy firms in the North
My chosen tax advisor works for one of the large firms
He is also a landlord and he was the rep for the NLA
He often gives talks to council meeting for landlords
I have asked him his views on this topic and his answer is if it was that easy I would be doing it myself as he too is effected by S24
I have noticed the arrangements mentioned are never mentioned by large Accountants - why is that?
If I see large firms selling this topic I would take notice.
From what I can see it’s fringes small firms doing it only and that’s my concernDL
Learn Change and Adapt ?????
You raise some very good points DL and I look forward to their respective responses
Some fringe firms will call themselves specialists . And maybe rightly so
They make their money by tailor made bespoke arrangements for their clients
Some bigger brand firms deal maybe principally with volume run of the mill clients
But surely they have specialist arms to deal with the fringe stuff as well
So I agree surely they should have a view on these arrangements
People ask me often about my LHA business as if to say - If its so easy why isn`t everyone doing it
I say - its easy now but it wasn`t then . I had to work hard to make it look easy
I had £1,822 drop LHA funds into my account today for one upfront payment on a flat .
It looks easy money to me now so i dont get excited as i once did
But its taken 20 years to make it look easy
And you will have similar stuff as well of course because you are at the top of your game
I am hoping these specialist fringe tax advisers can reassure me likewise
I want them all to agree with each other but be transparent about the associated risk - if there are risks
LHA has its risks and that`s why many don`t go down that route and that`s fair enough
What are the risks about these tax structures is the question for me - and are those risks acceptable to me.
Jonathan Clarke. http://www.buytoletmk.com
I agree with you JC
my own tax advisor is a landlord and had 100s of landlords as cliants built up over I would think 15 years
he is a regular at meeting NLA ect
He never pushes his services if a person what’s his services he will take them on
i have spoken to him on a number of occasions and I send him posts from PT and he shoots them down with knowlage
the company he works for is one of the largest and oldest and even if he left I know they will be there
how can landlords put such faith in a small guy who could be here today and gone tomorrow
the stratiges they sell are long term and one day say in 7 years time the Hmrc decided to challenge the landlord will they be there to support them
as when an invested happens
i would pose this question would the NLA Hmrc insurance policy cover this sort of investergatiob if it goes wrong
You seem to have a good heavyweight CV so good you can join the debate
This is a relative blind spot for me so I listen carefully to all sides before making choices
I fall into the HNW category I guess so always look around to protect what I`ve made
In this day of the website I often go to there just as a first port of call as to who could help me
20 years ago we didn't really have that option . And we didnt have the PT option either
Both help a great deal
Window shopping has changed dramatically now
We all like to do a bit of window shopping before possibly going inside for that coffee and potentially buy
I went to your website but there were no names, no CV`s no pictures on the `About` page
It was bland to be honest and I learnt very little about who HNWA really are
I don`t get why that was ? An opportunity to show your wares was missed I feel
I am sure there is a good pedigree there but I just cant see it
I learnt far more out about you in your single post here than on your website
There were no names, no details of experience, nothing to grasp onto as to who i would be dealing with
I am always disappointed when I see this on any website - and its not just yours - and I always wonder why ?
As a topical analogy - your website I feel is wearing a full burka whereas Tony`s is not
The football season starts in earnest today .
There is a long long way to go so no conclusions as yet on who is the `best` if there is such a thing
But on the football theme I can at least see who represents Tony`s team on his website so he is 1-0 up at this stage
I look forward to learning about your team - so please update and refresh your `About` page
And I further look forward to an open debate on PT between all experienced tax bods in a language I can understand
JC. It seems that anyone who knows about tax doesn’t back up the structure.
Tony is a salesman, not a tax advisor.
Presumably Sanjay is a one man band. Nothing wrong with that and common with tax advisors who go solo. He no doubt believes that it’s better to not have an “about” page that shows just him working vs the fact it might put you or me off? His call.
LinkedIn found him pretty easily.