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Issue:
4910
/
Categories:
Comment & Analysis
, Buy-to-let
, DOTAS
, HMRC investigations
, Investments
Landlords beware
Key points
- Changes of the past years have caused problems for buy-to-let owners.
- HMRC Spotlight 63 warns landlords about arrangements it considers do not work.
- Potential problems with mortgage lenders.
- Landlords are looking for ways to mitigate their tax liability.
- Some of the structures offered have significant technical weaknesses.
Hundreds of buy-to-let (BTL) individual landlords have landed in very hot water with HMRC announcing that a specific ‘hybrid’ limited liability partnership (LLP)-corporate partner structure is a ‘tax scheme’ in Spotlight 63 (tinyurl.com/hmrcspotlight63).
This crystallises a concern that many Taxation readers will have come across in the past few years on potential solutions that their landlord clients have found in the marketplace. These generally promise a fix to the mortgage interest relief issue for those landlords that cannot undertake a ‘normal’ incorporation of their BTL portfolio. The solutions will vary though will...
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