dreamon100 Posted May 14, 2012 Report Share Posted May 14, 2012 Hi, I have just had my tax self assessment done by an accountant and have a liability of £2.5k caused by my rental income, due to already being being a higher rate tax payer. The accountant has suggested setting up a trust to 'hold' the houses in, as a means of avoiding the extra income tax. Also apparently in the longer term it would help with inheritance tax issues. Does anyone know about this and is it a good idea? cheers Dreamon100 Link to comment Share on other sites More sharing options...
LLAW96 Posted May 16, 2012 Report Share Posted May 16, 2012 Depends who you are holding it on trust for, in its simplest form the property could be held on trust for a dependent child and any tax liability set off against the childs annual allowance. No doubt you accountant will have a wonderful plan to reduce your tax liability. Link to comment Share on other sites More sharing options...
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