Welcome to our newest edition of LT4L News. This time we cover the latest article from Tony Gimple, Summer networking events and a selection of our Property Question Time videos.
Inside Issue #04
Inside your issue #4 of LT4L news, you’ll find: –
- LT4L co-owners win North East Accountancy Awards 2019
- Housebuilding dominates debate at Landlord Investment Show
- Hear from an LT4L client in our new ‘Client Interview’ section
- The latest Article from Tony Gimple
- Summer networking events for Clients and Landlords
- A selection of Property Question Time videos covering subjects that matter to landlords along with recent articles and blogs
Landlord Investment Show Panel Debate
The National Landlord Investment Show returned to London Olympia on the 13th June 2019 with another main stage panel debate. Hosted again by publisher and broadcaster Andrew Neil, the topic this time was “The Future of the UK Housing Market.”
Housebuilding dominated the debate with the former Mayor of London defending his record. The full video recording of the debate is available for you to watch here
Alternatively, for a summary of how the debate unfolded, you can read the Property Notify published article.
Client Interview
This month, and for the next 3 issues of LT4L NEWS, we’ll be sharing a video interview with one of our clients. Filmed at our private event in London back in May 2019, you’ll hear their views on being a landlord and how they came to work with us.
“I’ve been working with Less Tax 4 Landlords for two and a half years and they’ve helped me at every stage. I’ve now got a real viable business that’s got plenty of potential for growth without the fear of getting overtaxed. LT4L certainly keep you up to date with every aspect of tax. If you’re running a business you have to take everything that comes at you and Less Tax 4 Landlords help you become stronger.”
Articles & Announcements
Winners at the North East Accountancy Awards
We’d like to congratulate LT4L co-owners The Bailey Group for winning Accountancy Firm of the Year (51-200 Employees) at the North East Accountancy Awards 2019.
They’ve also made the shortlist for Mid-Tier Innovation Firm of the Year at the British Accountancy Awards 2019… good luck Chris!
Never in the Field of British Politics Has So Much Been Taken Away From So Many.
Read the very latest article written by Tony Gimple (LT4L Founding Director) featured in the LI magazine, which explores the onslaught of regulation and tax changes on the hardworking landlord and addresses the disadvantages of incorporation.
Read here
Landlords, What Happens When You Die?
Of course, whilst taxes we can mitigate, death we cannot. And if you’re a portfolio landlord, then chances are you’ve been thinking a lot about taxes lately.
Find out more about inheritance tax in our latest blog here.
Featured Events
The LT4L Client Community BBQ – Back for a Second Year!
Following the success and positive feedback from last year’s event, once again we are pleased to be hosting our client community BBQ on the 30th of August in London. We look forward to seeing you there.
Southampton Property Show
Join us on Thursday 12th Sept 2019 at the Harbour Hotel Southampton for an afternoon of networking, seminars and advice. If you have an existing portfolio of properties or are building one, meet our team at stand A5 for a free initial assessment. Also hear from our founding director Tony Gimple who is speaking at 2.40 pm.
Private Event for Clients & Portfolio Landlords Reviewing their Property Business with us
Tuesday 17th September 2019 we’ll be looking at Hybrid Business Models as the best long-term option for your property business. Limited availability, by invitation only.
Questions for Tony in this episode include:
1) My parents have a large portfolio of properties in personal names and are currently clueless about the tax changes. They are elderly and concerned about inheritance tax. How much is it likely to impact them and as their sole heir what impact will this have on me. Is there anything we can do?
2) On the Proper Wealth program with Paul Mahoney, Tony you mentioned that you don’t think that the Prudential Regulation Authority changes are a bad thing. I have four mortgaged properties and I’ve been unable to secure further funding. What can I do to improve my position because right now I have to disagree with your comments?
Questions for Tony in this episode include:
1) I have several soon-to-be vacant properties and I’m looking to buy some more. I’ve been looking into working with the local councils to diversify my tenant profile but calculate that my profits would fall as a result. My question is whether I have the full picture, for example are there any tax advantages for renting through councils?
2) I now have six buy-to-lets and have given up the day job. I’m now a basic rate taxpayer but given the recent tax changes, I’m expecting that to change in 2019. I want to know if I’m better off keeping these under my own name or selling them to a limited company that I would have to create all in an attempt to save on my tax bill? Also worth considering is that I plan to increase my portfolio over the coming years.
Questions for Tony in this episode include:
1) I’ve been providing long-term housing for over 100 families for the last 20 years and my current accountant has worked out that by the time I get to 2021, section 24 will mean I pay more tax than I make in profit. This seems absurd. If it’s true I will have to sell up and who will rehouse all the families and what if I’m sued for breaching my AST?
2) I’m thinking about giving each of my children one of my BTL properties as a way of getting around inheritance tax. If I do that, will I have to pay capital gains tax? As all of my properties are mortgaged, do I also have to let the lenders know?
Question of the Month & Publications
Will I have to change my existing accountant, mortgage broker, or financial adviser?
You are free to work with your existing accountant, mortgage broker, and financial adviser, albeit we will need to speak with them so that they also understand what you are doing, how your new business structure works, and our ongoing role.
However, it is a condition of our underlying professional indemnity insurance that we advise upon and submit the accounts for your property business and controlling individuals within it and have a supervisory role over your other accounting affairs.
Have a question you’d like answered?
Recent Articles & Publications we’ve been featured in:
– Property Notify
– LI Magazine 46th edition
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