HMRC’s STOP Notice What UK Property Landlords Need to Know

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In this video, we dive into a critical issue affecting UK landlords: HMRC’s recent STOP notice issued to Property 118, a major advisory firm. If you’re a landlord who has used their services, this video is essential viewing. • 🔍 What Went Wrong? We break down the situation, explaining what a STOP notice means and its implications. Whether you’re a seasoned landlord or just starting out, understanding this notice is crucial. • 💡 Section 24 and Tax Bills: The Challenge Section 24 has caused a seismic shift in UK rental property taxation. High earners suddenly find some properties turning unprofitable due to increased tax bills. The legal remedy—using a limited company—comes with hefty upfront costs (capital gains tax and stamp duty), potentially delaying profits for years. • 🔑 Property 118’s Solution Property 118 devised an intricate tax scheme to eliminate these upfront costs legally. Unfortunately, it fell afoul of anti-tax avoidance rules. • 🚫 Objections and Investigation Issues arose with the deed of trust’s design, failure to notify HMRC of the scheme, and changes in beneficial ownership. Property 118 maintained their innocence even during HMRC’s investigation. • ⚠️ The Seriousness of the STOP Notice HMRC’s STOP notice is no joke—it criminalizes engagement in this tax scheme. The case is ongoing, but if you’ve been involved with Property 118 or a similar scheme, seek professional advice promptly. • 👍 Stay Connected If you found this video helpful, please like and follow our channel for more updates. We appreciate your support! • Channel Intro: • Hi There! I'm a qualified accountant based in London. On this channel, I'll help you understand business, finances and navigate the often complex world of tax. We will also talk about trending topics which could be related to business. • Whether you're a business owner, freelancer, or individual taxpayer, I'll provide information and explanations on a variety of financial topics. • You'll find videos on: • Tax tips and strategies to save you money • Financial planning for your future goals • Accounting basics for businesses of all sizes • Trending topics related to business and finances • And much more! • Disclaimer: • The information on this channel is for general educational and entertainment purposes only and should not be construed as professional financial or tax advice. For specific guidance related to your situation, always consult with a qualified financial advisor or tax professional. • If you're looking to take control of your finances and make smarter decisions with your money, you're in the right place. • Thank you for your support - Subscribe for regular business videos and tax tips! • Comment below, if you have any questions that you would like me to cover in the future videos. • Check out my TikTok for more! / niaz_q

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