How THP can help you as a Landlord

1.Transferring properties to your spouse

Transferring properties to your spouse can help cut your tax bill significantly. But it’s a strategy that won’t work for everybody. If you are a THP client, we can prepare a Spousal Transfer Suitability Report for you. In it, we will analyse your individual circumstances and tell you:

• How much tax you could save each year
• What potential (one-off) costs to expect
• Factors to take into account when deciding whether to go ahead
• Our recommendation on whether the process will benefit you

To get started and find out whether you can make tax savings, talk to your account manager.

2. Advice on transferring properties to a Limited Company

The web is full of recommendations that tell landlords to transfer their properties to a limited company. It’s not that simple! You might save tax, but you could inadvertently be hit by major costs that could take years to recoup.

THP clients who are thinking of setting up a new company can ask us to prepare a Limited Company Suitability Report. We’ll use our knowledge of your financial circumstances to take a close look at your portfolio and circumstances. We'll then alert you to the hidden costs - as well as the tax savings you can expect -  if you:

1. Retain personal ownership of your properties
2. Transfer ownership to a new limited company
3. Set up a new limited company for future property purchases

Thanks to this analysis, we can recommend the most efficient ways to hold your current and future properties – making sure your portfolio is in good shape for the future.

Once you have signed up to our Platinum service for Landlords you will be able to benefit from these comprehensive tax planning services for Landlords.

5. Dealing with HMRC and tax investigations

Whether you need help keeping your accounts in order and your tax returns up to date, or you need expert backup to deal with a tax investigation, our experienced team is here for you. We can:

• Make your buy-to-let accounts run like clockwork. From personal Income Tax and VAT returns through to bookkeeping services, we know how to make sure the taxman stays happy with your paperwork and payments.
• Resolve tax investigations. If HMRC does decide to investigate your tax affairs, we can deal with them on your behalf – making sure they get the right information quickly and resolve the case as quickly and painlessly as possible.
• Keep ‘Let Property Campaign’ penalties to a minimum. The HMRC Let Property Campaign offers landlords the chance to declare undisclosed income. Our experience in this area can help you negotiate the best terms with the taxman and keep penalties low – or even avoid them altogether.

If you are a THP client and would like to learn more about any of our services for landlords, please give us a call today or fill in the simple form below. We’re looking forward to helping you.