Tony Gimple (Founding Director of Less Tax 4 Landlords) is interviewed in this Property Question Time Episode 142 and is joined by Paul Mahoney (Nova Financial) and Joanna Leggett (Leggett Immobilier)
Questions in this episode include:
- 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 which seems absurd. If this is true I will have to sell up. Who will rehouse all of the families and what if I was sued for breaching my AST’s? What do I do?
- I’m thinking about giving each of my children one of my buy-to-let properties as a way of getting around inheritance tax. If I do that though will I have to pay capital gains tax and as all of my properties are mortgaged, do I have to let the lenders know?