January Personal Tax bill, another reason to consider bridge financing it!
William P.W.Omony MBA.
Structured Property Finance | Investment Strategist | Bridging & Development Finance Consultant
Those who will be filing their UK Personal tax returns for the tax year 2018/19 online are expected to file and pay their tax bills by midnight of the 31st of January 2020.
Being on the back of a great festive holiday time, liquidity risk is quite prevalent and its normally the time when many explore the different financing options available.
With the changes in #propertytax regulations under section 24 of the UK income tax act 2007, many #Landlords are likely to have a higher tax bill, unless of course, if the structure of their #Property ownership does mitigate the downside and as such avoid the crystalisation of the extra tax payable as a result of the change.
Thankfully the #Specialist lending market, especially those in the #Bridgingfinance space, have innovatively positioned themselves to lend for such purposes either on a first charge or second charge basis, depending on the equity value of the property upon which a charge is to be taken.
Many specialist lenders can fund among others, the payment of tax and tax related expenses like:
- Personal tax bills
- VAT on purchase of commercial properties
- Corporation tax
- Other business liquidity needs
As we start another year, keep an open protocol on the liquidity risks given the uncertainities that may arise especially in the post 31 January 2020 environment, until some reasonable alignments are put in place.
We wish you a wonderful and prosperous new year, 2020!!
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The article is for general information only and not intended to be advice to any specific person. You are recommended to seek professional advice before taking or refraining from taking action on the basis of this publication or other publications and contents of this page.
William PW Omony MBA is a Property Investment Strategist/ Property Tax Consultant at Proactive Consult - Property Accountants and Tax Advisers, A firm of Accountants who also provide unregulated property finance intermediation that is delivering agile innovative strategies for Property Investment, Development, Trading and Refurbishment.