Landlords Tax and Joint Ventures

Two days before the election, at our next seminar on June 6th, 2017 we will be covering four topics delivered by a great line up of speakers.

I know all the topics will be fascinating. Two of these topics are Landlords Taxes and Joint Ventures. Plus, we also have James Davis from UPAD, speaking about how landlords can utilise technology to assist them in finding and managing tenants better and Matthew Oliver from the NLA with an update for landlords.

(By the way, we only do two of these events a year and they tend to sell out, so please book soon. You can book by completing the Contact Form or simply by mailing me at [email protected] and giving your name).

SEMINAR EVENT DETAILS: Landlord and Property Letting Seminar

Landlords Taxes

Taxes are now a big issue on all landlords’ radars (or at least, they should be). This was following the various changes to the tax regime brought in by George “Three Jobs” (now just Two Jobs) Osborne, when he was Chancellor of the Exchequer.

We still think many of the more “accidental and part time landlords”, (usually found among those with less than four properties), still do not fully appreciate what these tax changes mean for them and just how much it could  affect them. Many will not yet have realised they may well be pushed into a higher tax band as a result of changes to the way that interest on mortgage and other loans is accounted for.

Those “in the know” have been looking at whether incorporating, (setting up a company structure to hold their properties), will work for them, though this may not work for all, often because of the impact that a higher dividend tax at higher profit / personal income levels will have. Plus there will be stamp duty and capital gains tax to consider and the cost of producing annual accounts. Finance cost could be higher too, (though at least financing costs for incorporated landlords’ loans are now falling to closer to “standard buy to let” rates as the ever-tardy mainstream mortgage lenders finally “catch up and wise up” with better underwriting approaches that better accommodate company structures).

So, there are many issues to consider.

Many landlords have gone ahead and incorporated already. (A National Landlords Association FOI request revealed that 1,300 took this route in February alone) but many more are still pondering what action to take.

Cynics View: Landlords on the Radar

Some sages question whether the government, via HMRC, is using these tax changes as a tool to push landlords to incorporate so that more landlords (and more properties) will be “on the radar” and hence easier to control and regulate through licensing and the like. Cynics might suggest that once this is accomplished, the government will then just move to change the tax rules so that incorporated landlords are hit with the same taxes as unincorporated landlords.

But “we are where we are today” and no one can predict the future or divine the government’s longer term motives, if indeed there is a long term government plan!

At our seminar, one of the speakers is Stephen Hemmings from Menzies, the tax accountants, who are now one of only three or four recognised tax expert suppliers to the National Landlords Association (NLA), (which says something about their professionalism, because the NLA don’t hand out their recognised supplier status to just anyone).

He will have lots of good tax advice for all landlords and all situations. Of course, you can also get yourself a brief up to date guide in my book, “Successful Property Letting – How to Make Money in Buy to Let.” See the links below.

Final comment: You don’t have to incorporate your business as there are many other things you can do to legally reduce your tax liabilities, which I explain in my book too. Stephen will also do look at many other ways at the seminar. (And in the next blog, in a few weeks I will look at a very interesting and workable idea about how to legally reduce tax from Property118. So look out for this).

Property Joint Ventures

Richard Bowser will also be giving a great talk.

These days many property investors focus on how you can add value to a property through changes of use and through the development and refurbishing of properties. There are so many different opportunities and different investors tend to specialise in different aspects of this – some will be busy creating HMOs from old commercial or residential estates, some will go the other way and be turning old shared houses back into luxury single properties. The key is looking to add value.

To achieve these aims, many people seek finance from other people via joint ventures and Crowdfunding arrangements (with cash being provided either by loans or from equity / profit share arrangements, or indeed a mix of both).

You may be someone looking to get money in from others for a scheme you have in mind or you may be considering investing your money in a scheme being promoted by someone else.

As editor or Property Investor News, Richard Bowser has met many people who have made joint venture schemes work spectacularly well for all concerned. He also knows schemes that have failed miserably

At our seminar event on 6th June he will share his knowledge with you and show what the key factors in success are.

SEMINAR EVENT DETAILS: Landlord and Property Letting Seminar

HOW TO REGISTER:

Easy. All you need to do is email me at [email protected] which will open a page to send an email to me.

Just enter in your full name on the email and a note that you would like to come and if we have space left we’ll then send you payment details and will reserve a place for you.

The cost is just £35 for early bookings.

Timings:

The doors always open to the event at around 530pm and the event will always finish at approximately 850pm. Our first speaker is on at around 6pm. (Speaking times and speaking order will be advised on the night and is not as listed here).

ABOUT LETTINGFOCUS

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We help landlords and property investors by showing them how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk.

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We advise a range of organisations including banks, building societies, local authorities, social housing providers, institutional investors and insurers. We help them develop and improve their services and products for private landlords. David Lawrenson, founder of LettingFocus, also writes for property portals, speaks at property events and is regularly quoted by the media.

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