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  • Tax

    LessTax4Landlords - thoughts please!

    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.

    Views?

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    I agree with you

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    Debbie Franklin

    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.

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    Hi Sanjay,

    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.


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    Tony Gimple

    Founding Director

    Less Tax For Landlords


    Hi Tony

    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 sanjay@hnwa.co.uk.   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.

    Regards

    sanjay


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    Hi Sanjay

    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 concern

    DL

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    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.

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    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

    dl

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    Learn Change and Adapt ?????


    Hi Sanjay

    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

    Thank you


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    Jonathan Clarke. http://www.buytoletmk.com


    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.

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