We are delighted to be launching our updated version of private client compass.
Changes for landlords and for non-domiciled individuals are just two areas where tax has become much more complex in the past year. In an environment already fraught with pitfalls for the unwary.
Compass presents a range of commons scenarios for things like succession planning, property ownership, for people in business or for international aspects of private client. And, highlights some of the tax and legal issues, as well as some of the reliefs and allowances which are available. Importantly, this is not a collection of solutions.
We work closely with clients to understand their current needs and aspirations and then work with them to provide a bespoke solution that’s suitable for them and their families. One area significantly affecting our residential landlord clients, both this year and in future years, is the likely increase in tax because of the limitations of mortgage interest relief.
Now whether they should sell the property, incorporate the business, perhaps transfer to another person or transfer into trust, or even just sit tight, will depend on a number of non-tax factors and that’s really where our experience and expertise comes into play beyond private client compass.
What should you do next?
You can download private client compass from our website, have a look at the scenarios and if there’s anything there which is relevant to you now or perhaps in the future. Or even if you’re not sure, please do make contact with us.