A leading tax expert has slammed claims made recently that buy-to-let landlords face the risk of double taxation if they choose to put their property investments into a limited company, insisting instead that it remains a perfectly safe vehicle to avoid paying higher rates of income tax if calculated correctly.
Several property experts, including Nick Cartwright, a tax partner at Smith & Williamson, warned of possible dangers in landlords forming limited companies in a bid to minimise their tax liabilities at the recent ASTL annual conference.
Cartwright warned that buy-to-let landlords face a potential double layer of tax, with the overall tax rate, if rental income is distributed, likely to hit as much as 50%, while also insisting that incorporation is a bad option for landlords who want live off the rental income as it is earned.
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This is not so important...
Ivey St.
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