Specialist buy-to-let lender Landbay plans to launch a comprehensive accounting, reporting and tax compliance service for professional landlords looking to hold properties in limited company special purpose vehicles.
The service will come with a £750 fixed annual fee and in return, Landbay will offer customers access to tax advice on transferring properties from an individual name into a company, income extraction, transfer of shares, and liquidating an SPV.
Landbay managing director Paul Brett (pictured) says: “Landlords have been hit by a wave of tax and regulatory changes through 2016/17, and brokers have had to upskill quickly to keep up. As a specialist lender, we want to make this transition as straightforward as possible for brokers and their customers, which is why this service is such an important one for us as a lender.
“From discussions I’ve had with intermediaries it is clear that tax and compliance is an area where specialist advice is urgently needed, so we’re connecting the dots to offer access to competitively-priced professional expertise.”