Join us as we take a look back at our Top 10 most visited blogs, pages and articles of 2021, ranked in order of most unique views on our website.
#1 Form 17 for Landlords – adjusting the split of property income between couples
Once again, this blog makes the #1 spot for the second year running as the most-read feature on our website.
Whilst most landlords are aware that income can be shared equally by married couples for tax purposes, we receive many phone calls from landlords who are still not aware of the opportunity to make changes to this arrangement.
For help preparing the necessary legal documentation and filing Form 17, contact firstname.lastname@example.org for a quote.
#2 Signing up to our Free Video Vault
Now in its second year and with over 533 minutes of free tax and business planning videos, we’re not at all surprised that this was our second most visited page in 2021. The Less Tax 4 Landlords Video Vault is a place for landlords who are concerned about their rising tax bills or their ability to grow their property business and want to find out what options are available to them. Subscribe to the vault and watch the videos online and at your own convenience. As of 06/01/2021 the video vault has 34 free tax and business planning videos.
April 2020 marked the beginning of the fourth and final year for the staged implementation process of Section 24, and an end to private landlords being able to claim finance costs as a tax-deductible expense.
Meanwhile, the UK’s tax Payment on Account system means self-employed landlords that are paying more tax as a result of Section 24 are yet to feel the full impact on their pockets. This is because the balancing payment for the tax year ending April 2021 is not due until 31st January 2022.
Our article explaining this was the third most read feature on our website in 2021.
#4 What is Section 24? Common questions about Mortgage Interest Tax Relief Restrictions
The Section 24 tax changes restrict tax relief for finance costs secured by private landlords on residential properties to the basic rate of Income Tax. The changes were initially announced by George Osborne in the Conservative government’s summer budget of 2015. In this blog we cover:
What are the ‘Section 24’ Tax Changes?
- Will Section 24 Impact my Property Business?
How will Section 24 impact cashflow?
What counts as ‘Finance Costs’ in Section 24?
Will Section 24 ever be repealed?
Why is the Section 24 Tax Credit a ‘Maximum’ of 20%?
And much more.
#5 2021 Budget Summary: Full Details of 2021 Budget, Landlord Commentary & 19 Minute Video Explanation
With a full written summary, a pdf document to download and keep, and a recorded video with commentary from our Co-Founder and Group Director Chris Bailey, the 2021 Budget Summary is our 5th most read blog.
Many business owners will have breathed a sigh of relief as nothing in the budget seemed to immediately put their recovery at risk following a difficult year of Coronavirus restrictions.
The ‘big news’ story was of course that Corporation Tax will be increasing to 25% in 2023. In most cases, this will only impact those with at least £50,000 of profits, with a tapering to the full 25% rate on profits above £250,000. Close Investment Holding Companies however will be due to pay 25% on profits regardless.
#6 Out of the frying pan into the fire
Since the introduction of the 3% Stamp Duty (SDLT) uplift and George Osborne’s now infamous S24 landlord tax, landlords have certainly been feeling the heat.
Many landlords have incorporated their business. Most landlords we work with have better options.
Is the Hybrid Business Structure the best option for your property business?
When properly arranged and managed, a hybrid structure can deliver many benefits including:-
- Seamless succession planning with Inheritance Tax typically mitigated within two years
- Two layers of commercial limited liability and protection against family/marital break-up
- Maximum commercial flexibility and choice of finance
- Tax from your property income at basic rate regardless of how much you draw
- No need to remortgage or change title, thus no CGT or Stamp Duty
If you’re thinking of incorporating your property business into a limited company, then we recommend you read this blog first.
#7 Autumn 2021 Budget Summary for Landlords + 18 Page Budget PDF + 70 Minute Webinar Recording
Many were keen to read the key points and takeaways from the 2021 Autumn Budget specifically from a landlords perspective. The blog provides some useful links including the full budget summary PDF and a webinar recording titled “UK Post-Budget Analysis. How will the changes affect you?” recorded in partnership with London letting and sales agents, Benham and Reeves.
#8 Testimonials from LT4L Clients
Hear what our clients have to say about us!
Having trust in a company or the people you’ll be working with is critical, and we understand the importance of this. Hearing from our clients in written reviews and video interviews is our 8th most visited page.
“One of the reasons which drew me to Less Tax 4 Landlords was the integrity and honesty with which they operate. Their USP in my view, has got to be that they provide a one stop shop for all of the services that a professional landlord would need to successfully manage and grow their property business. They provide an integrated solution to a complex problem now facing many professional landlords. A great management team.” PK
Read more reviews like this one here.
#9 HMRC set up ‘Secret Unit’ to investigate Family Investment Companies
News of a ‘secret unit’ set up to look at Family Investment Companies (FICs) has been circulating in the national press.
Their focus? “Inheritance tax implications.”
How will this impact advice given by Tax Advisors?
#10 PRA Changes: The Impact on Portfolio Landlords
Our 10th most visited blog page is a full summary of the 2016 Prudential Regulation Authority (PRA) changes with a focus on what the changes mean to landlords wanting to borrow additional funds. If you’re a portfolio landlord in the buy-to-let business and you’ve not had to borrow additional funds from a lender since 2016, then you should read this blog and find out what has changed.
For example, Portfolio Landlords looking for new mortgages will have to ensure they have all the necessary details to hand. A buy-to-let lender may ask for:-
- bank statements
- tax returns
- future liabilities
- rental accounts
- income and expenditure statements
- and a business plan!
More on this and stress testing in this blog.