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Where Taxpayers and Advisers Meet

accountant or IFA ??

marlene
Posts: 8
Joined: Wed Jan 22, 2014 2:21 pm

accountant or IFA ??

Postby marlene » Tue Jul 12, 2016 3:32 pm

I have a few buy to let properties (for over 10 years now) and am wanting to release equity to buy some more. I want to know if i should set up as a limited company or just in my own name again. I would like to get some professional advice on this so who do I need ?? An accountant (i do my own tax returns) or a financial advisor (I have one who gets my mortgages for me) but who do i use. ??? also im wanting a bit of future planning advice ie for inheritence for the kids (im 40 but want to plan ahead) any advice on who to get advice from please LoL

jpcentral
Posts: 924
Joined: Wed Aug 06, 2008 3:28 pm
Location: Loughborough
Contact:

Re: accountant or IFA ??

Postby jpcentral » Wed Jul 13, 2016 8:47 am

Accountants, mortgage brokers and IFAs often work together because they have different areas of expertise.

You will probably find that an accountant has the best overview but will not be up to date with the vagaries of the mortgage market. IHT planning often requires input from accountants and IFAs - and solicitors have a substantial role to play too.
John Perry
Central Business Services
Loughborough
http://www.centralbusiness.co.uk

marlene
Posts: 8
Joined: Wed Jan 22, 2014 2:21 pm

Re: accountant or IFA ??

Postby marlene » Mon Jul 18, 2016 2:37 pm

thanks for your reply xx

GlobalTaxAdviser
Posts: 633
Joined: Fri Dec 05, 2014 1:18 am

Re: accountant or IFA ??

Postby GlobalTaxAdviser » Wed Jul 20, 2016 12:18 pm

I agree with John but would really get as much as information together from different sources about the buy to let market. Its undergoing significant change and personally with the regulations, taxes and anti government stance towards landlords. I am not sure buy to let is a good investment anymore.

You will need to carry out the full analysis before any decision is made. I would advise you to put together some scenarios and forecasts to see if the investment is worthwhile.

Its good you are looking into inheritance implications and certainly professional advice should be sought in this area as it is complicated


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