Tax Policy Associates start their latest broadside in their battle with Less Tax For Landlords like this:
“Less Tax for Landlords and The Bailey Group sold a landlord tax avoidance scheme involving an LLP “hybrid partnership”. We reported back in October that the scheme was technically hopeless; HMRC has written to the clients and invited them to settle. Everyone thought the game was up.
“How did Less Tax for Landlords respond to being caught? They denied there was anything wrong with their scheme, paid £100,000 to a KC known for writing tax avoidance scheme opinions, obtained an opinion which appears to be worthless, and advised their clients to disregard HMRC’s offer to make a disclosure by 31 January 2024. We expect that, as a result, their clients will incur significant penalties.”
And it continues on their website….
This matters because until recently Less Tax For Landlords were a supplier recommended by the NRLA and their owner publishes the well known Property 118 website. Just about every landlord wants to save tax, and why not? But can landlords confidently take part in the Less Tax For Landlords scheme? It seems the jury is still out despite what each side in this dispute claims.