Hugh Gunson and Tom Watts write for Tax Journal on Property118 schemes for landlords
There has recently been increasing publicity around various tax avoidance schemes which have been promoted to landlords with the promise of significant tax savings.
An arrangement devised by Property118 and Cotswold Barristers has attracted particular attention, including in a series of dtailed articles from Tax Policy Associates.
The potential consequences for over 1,000 buy-to-let landlords may reportedly include significant unintended tax liabilities and possible mortgage default.
It has been suggested by many that affected landlords should obtain independent legal advice about what remedies may be availbale to them, including possible professional negligence claims.
Hugh Gunson, Partner and Tom Watts, Associate, both in our dispute resolution team, explore one potential remedy that affected landlords may wish to explore in an article for Tax Journal. They write:
[...] it seems to us that one potential remedy that could equally be considered is a court application to unwind the arrangement on the grounds of mistake, which if successful could also mean that the adverse tax (and legal) consequences do not arise.
Read the full article in Tax Journal here (pages 8-9).
