Tax Advice On Property Purchase

[EViS]

Can anyone recommend a good tax guru who can advise us on how to structure the purchase of a second property? Someone who has good knowledge of potentially putting a property into a company and pulling the profits out through this...

[Eric Mc]

I think the word "accountant" is what you are looking for

[EViS]

Eric Mc said:

I think the word "accountant" is what you are looking for

My own accountant has himself given some advice but admitted to his lack of knowledge on this particular subject and suggested I speak to someone who deals with properties as their bread and butter. Then again, maybe every accountant should be able to set this up and this is the kick up the back-side I need to finally get around to switching accountants like I should have done years ago.

Maybe there is an accountant who is more specialist, Eric MC?

Edited by EViS on Tuesday 2nd August 16:55

[Ozzie Osmond]

Who on earth have you been using? This sounds like astoundingly basic stuff to me.

[EViS]

Ozzie Osmond said:

Who on earth have you been using? This sounds like astoundingly basic stuff to me.

Recommended by the same friend who recommended my broker... until PHer Liam came along .

[Sarnie]

EViS said:

Ozzie Osmond said:

Who on earth have you been using? This sounds like astoundingly basic stuff to me.

Recommended by the same friend who recommended my broker... until PHer Liam came along .

[EViS]

Sarnie said:

Not sure what you're smiling about, get back to work! Oh yeah... you're waiting for my reply whilst I faff on a forum .

[RichB]

Set up a partnership and put the income and costs from your property through that. That said, HMRC are starting to take a dim view of businesses set-ups like that only have one income stream. Perhaps get 3 or 4 properties so you have a bona fide property management company.

[EViS]

RichB said:

Set up a partnership and put the income and costs from your property through that. That said, HMRC are starting to take a dim view of businesses set-ups like that only have one income stream. Perhaps get 3 or 4 properties so you have a bona fide property management company.

Sarnie would also take a dim view of me if I asked whether I can buy anymore .

[sumo69]

EViS said:

Can anyone recommend a good tax guru who can advise us on how to structure the purchase of a second property? Someone who has good knowledge of potentially putting a property into a company and pulling the profits out through this...

Been off-line a few weeks following a house move (that went pear-shaped)and a holiday - I am doing this for several clients and would be more than happy to have a chat.

I will PM you my contact details.

David