Taxation magazine queries ― property income

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

The following guidance note provides details of queries raised on property income in the last few years in the Readers’ Forum section in Taxation magazine with a link to the full replies. It should be noted that the response to the queries is at a point in time and all relevant legislation should be confirmed as being currently applicable.

Holding a property portfolio in an LLP

Details of the query as copied from Taxation magazine

We are getting a number of enquiries from prospective landlords about setting up limited liability partnerships (LLPs). The advice seems to be coming from 'property clubs', so I am not sure how much tax knowledge goes into the advice. From my perspective, the limited liability aside, a traditional partnership behaves pretty much in the same way as an LLP and I cannot think of any particular tax advantage to going down the LLP route. I appreciate that each situation will have its own merits, but am I missing something?

Link to responses

See ‘Landlord enquiries’ in Taxation, 4 July 2024,

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