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Thursday 8th March 2012
Total Number of Property118
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1
17:06 PM, 24th April 2012, About 13 years ago
As Policy Director for the Residential Landlords Association I can confirm that we along with the British Property Federation the National Landlords Association and the Council of Mortgage Lenders are all working hard to counteract the draft EU Residential Mortgages and its potential adverse impact on BtL. The signs are looking hopeful. Vicky Ford MEP for East Anglia has been particularly helpful. The Treasury are also playing their part.
The problem with this decision is that it overturns long established accepted HMRC practice to treat tranfers of reidential lettings to companies as businesses for the purpose of allowing gains to be held over, when incorporating. This has been a key element of tax planning. There has always been some doubt as to whether it applies to a single property as here but if it is of general application so that it means that you can no longer hold over gains one important tax planning avenue is closed down... Read More