“It is very concerning that HM Revenue and Customs are turning the spotlight on many of Britain’s buy to let landlords who may have filed incorrect returns or no returns at all. While buy to let can be a very lucrative investment, one of the main drawbacks is that many novice investors enter the market without fully understanding the complex and ever changing regulations and requirements. For many this burden of administration is too much and will cost landlords dearly in unpaid back tax and fines. The impact for many landlords could be devastating.
“Investors have to understand the tax treatments of being a landlord. Full awareness and pre-emptive action can save thousands of pounds, whereas the wrong approach can result in investors paying unnecessary taxes. Property investment still offers excellent returns and investors should not be put off by the complexities of buy to let.
“Our own investors on The Property Investment Market (www.tpimarket.com) can buy shares in a range of properties online safe in the knowledge that all the administration is handled by TPIM. Even where the property is mortgaged we deal with the payment of tax. The only thing that individual investors have to remember is to declare the dividend and capital gain when their shares are sold. Our investment vehicle offers an excellent option for potential investors that don’t have the knowledge or experience to stay abreast of these difficult regulations.”
