A culmination of events resulted my wife and I making huge changes to the structure of our finances and to our lifestyle earlier this year, both with extremely positive outcomes. Whilst I have revealed parts of this story in my blogs, we have saved much of the important detail for our book.
Despite my wife and I technically being multi millionaires, the recent tax changes affecting UK private landlords left us facing an extremely bleak retirement. We simply couldn't allow this to happen.
Having researched significant legislation and taken considerable professional advice we have made the necessary changes to avert this financial disaster. Our book will reveal not only how we did it but also the alternative tax strategies, based on legislation and not "schemes", which we could have chosen.
This book is unlikely to make any of the the best seller lists because it is only likely to be of interst to a small minority of UK buy-to-let landlords who have found themselves in the same position as us. Nevertheless, we hope that writing it will help to grow our own retirement funds and to secure the retirement of a few hundred other landlords.
I've been semi-retired since 2009 and have been acquiring UK Buy-to-Let property since 1989 to provide my wife and family with an alternative form of pension income. I built a substantial rental property portfolio based on a combination of using my surplus income as deposits and on a strategy of gearing (increased borrowing against increased property values to fund even more deposits). Needless to say, I borrowed heavily.
If you don't know me, I'm also the founder of Property118.com which had 1.8 million unique visitors in 2015. It is a website dedicted to facilitating best practice amongst UK landlords. Please take a look if you're not already familiar.
Here's a taster of what we could be sharing with you.
You may or may not be aware that mortgage interest will not be able to be claimed as an expense by UK private landlords as of the year 2020. For my wife and I, this tax change alone would have reduced our retirement income by at least half, more as interest rates rise. We have avoided this financial catastrophy and so could you.
Incorporation of our property portfolio was the logical solution to our problem but as a result of my previous divorce I had been stripped of most of my liquid assets. We would need to raise money to pay for the incorporation because it isn't cheap. However, we couldn't afford to sell any of our properties to raise the necessary funds because the capital gains tax would have exceeded the net sale proceeds.
We, like many thousands of other buy-to-let landlords, felt completely trapped. However, we found the escape route and a comfortable retirement has been secured without us having to evict a single tenant.
If you choose to back us to write this book we will offer you a unique opportunity to meet us in person, plus you will receive a first edition copy of course.
OUR PROFESSIONAL BACKGROUNDS
Mark Alexander has studied and practiced property finance and asssociated tax and law since the age of 19. He have served as Chairman of a Barristers Chambers and previously founded and ran a business directly regulated by the FCA which ranked #38 in The Sunday Times Profit Track 100 in 2008.
Svetlana Alexander is a qualified Chartered Management Accountant.
Earlier this year we won a Court case against a UK building society and recovered £27,500,000 of overpaid mortgage interest for our fellow landlords. The case lasted for nearly three years and we eventually secured Justice in the Court of Appeal in June 2016.
Having advised several people on their buy-to-let property and associated tax strategies we have often discussed writing a book about the available choices and our own life experiences.
We also offer Conultancy.
No money will be taken until 23rd October 2016 and only subject to the target being achieved.
Thank you for reading and thanks in advance for your support. We hope that by sharing our experiences we will leave you in a far better position.