Buy-to-let via subsidairy spv

[LondonPM1]

Why?

Because I would not pay 450 for basic advice on setting up a SPV. I would expect a lot more

[northernladuk]

Because I would not pay 450 for basic advice on setting up a SPV. I would expect a lot more

So what does naming them achieve?

[Alan @ BroomeAffinity]

Because I would not pay 450 for basic advice on setting up a SPV. I would expect a lot more

Doesn’t sound unreasonable for advice that could save you thousands in the long run.

[hydraulicwave]

My main concern is I’ll spend the money and not have any new knowledge. Most of the information required can be researched and understood, without paying someone £450 I’m thinking.

[northernladuk]

My main concern is I’ll spend the money and not have any new knowledge. Most of the information required can be researched and understood, without paying someone £450 I’m thinking.

Must admit I don't agree with that at all.

[Maslins]

My main concern is I’ll spend the money and not have any new knowledge. Most of the information required can be researched and understood, without paying someone £450 I’m thinking.

Not picking on the poster here, but I think this mindset is indicative of a lot of the problems in the professions. Information is always out there, but often it's hard to find and understand the information that's relevant to you. This doesn't just apply to accountancy, I "suffer" this when I'm trying to find the answer to a legal/HR/architectural/plumbing question.

One reason why accounting fixed price packages can work well is that there's a weird dichotomy (sweeping generalisation of course, but...):
- people are prepared to pay for the compliance stuff (preparation and submission of accounts/tax returns etc), but they don't really value it.
- people are not happy paying for advice, but do value it.
So you charge what's realistically an inflated price for form filling, and chuck in the advice for free, and everyone's happy...or at least they are until someone else comes along who's cheaper, superficially promises the same things, but the advice sucks.

Still, my view on SPVs hasn't changed. I still think buying personally makes more sense in the long run.

[hydraulicwave]

If I create a spreadsheet comparing personal and SPV - look at the figures over the next four years, as the mortgage interest is impacted by the new staggered in rule. And I grasp how to set up a SPV, what will the Accountant tell me?

The spreadsheet can assess the effect of mortgage interest rates, maintenance, accountancy fees, insurance, company running costs etc. And can tell me how much the rent would need to go up each year to balance out the staggering in of s24, if I hold them personally.

Can someone tell me the things an Accountant might provide in this sort of case, that I will find valuable, then that would help.

All in all the spreadsheet tells me it's best if I can remain a lower rate tax payer. So, if the costs were comparable I'd consider a SPV as I'm higher sometimes.