Summer Budget 2015 – Landlords Reactions

Summer Budget 2015 – Landlords Reactions

14:00 PM, 8th July 2015, About 10 years ago 9619

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Budget 2015 - Landlords Reactions

The concern is;

Budget proposals to “restrict finance cost relief to individual landlords”Summer Budget 2015 - Landlords Reactions

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Shakeel Ahmad

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0:22 AM, 22nd July 2016, About 9 years ago

" non-UK resident individuals that let residential properties in the UK, individuals who let residential properties in partnership, and trustees or beneficiaries of trusts liable for income tax on property profits."

Am I correct in reading that non residents can write off all their interest against rental income & get full interest relief. If yes than non resident gets full relief on interest paid no CGT on gain from 6th April 15. Can some one please clarify this as I am confused !!!!!!!!!!!

NW Landlord

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9:24 AM, 22nd July 2016, About 9 years ago

Has anyone ever done any option contracts ? I have and I think it could be a cost affective and easy way of way of incorporating your properties whilst this ludicrous tax bites

TheMaluka

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9:37 AM, 22nd July 2016, About 9 years ago

Reply to the comment left by "NW Landlord" at "22/07/2016 - 09:24":

Please tell us more.

NW Landlord

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9:45 AM, 22nd July 2016, About 9 years ago

Hi David direct message me and I'll give you my number to g through it too long winded on here

Lancelot

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18:04 PM, 22nd July 2016, About 9 years ago

Clause 24 is just awful. So a thought here: any opinions on variations of this simple structure for tax planning efficiency:

-Let all properties in your portfolio to a Limited Company (eg. with a lease contract for the company also to pay mortgage costs)

-The Limited Company then lets the property

-Profits in the company are then paid out as income/dividends or retained

There could be many variations to this theme....

Any thoughts?

NW Landlord

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18:31 PM, 22nd July 2016, About 9 years ago

You are ontosomething definitely we have devised something that has been passed by a top tax expert sounds similar

Gromit

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18:38 PM, 22nd July 2016, About 9 years ago

Reply to the comment left by "lancelot spratt" at "22/07/2016 - 18:04":

FWIW: I've heard a rumour that HMRC don't allow this fairly obvious dodge, and hence various elaborate schemes being devised to try and circumvent the new tax.

Having said that I don't see on what grounds that HMRC could object, but it could along the lines of IR35.

A tax expert would know better.

NW Landlord

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18:41 PM, 22nd July 2016, About 9 years ago

What's the alternative ? Gotta fight to survive in my opinion

Kathy Evans

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22:51 PM, 22nd July 2016, About 9 years ago

Reply to the comment left by "Barry Fitzpatrick" at "22/07/2016 - 18:38":

How could IR35 apply to this? IR35 deals with a situation where a single person works for a customer as though they were an employee, while running a Ltd Co and that Ltd Co gets paid for the work (and pays Corp tax) and the "employee"/director gets dividends instead of paying class 1 NIC and employers' NI and tax on salary.

Sean Graveney

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23:16 PM, 22nd July 2016, About 9 years ago

How would such an arrangement sit with the General Anti Abuse Rule (GAAR)? What what would the purpose be other than to avoid tax?

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