Expanding buy to let lender Landbay says it plans to launch an accounting, reporting and tax compliance service for those holding their investment properties in limited company special purpose vehicles.
The service will cost £750 annually and will provide customers with access to tax advice on transferring properties from an individual name into a company, income optimisation, the transfer of shares, and liquidating a special purpose vehicle.
“Landlords have been hit by a wave of tax and regulatory changes through 2016/17, and brokers have had to upskill quickly to keep up. As a specialist lender, we want to make this transition as straightforward as possible for brokers and their customers, which is why this service is such an important one for us as a lender” explains Landbay managing director Paul Brett.
“From discussions I’ve had with intermediaries it is clear that tax and compliance is an area where specialist advice is urgently needed, so we’re connecting the dots to offer access to competitively-priced professional expertise.”