Property lettings portfolio purchase

Property lettings

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is there any tax relief for the the purchase of a property lettings portfolio?  I have looked at intangible assets, but it doesn't seem clear.

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By cheekychappy
23rd Sep 2016 11:36

The information you have provided it overwhelming. Can you try and condense the information to help us out further?

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By Accountant A
23rd Sep 2016 11:46

I would say not. What is being acquired apart from the tangible property? Sitting tenants aren't obviously a substantial asset as such. They can presumably move out at short notice. Does the portfolio claim to have some kind of brand that might amount to goodwill?

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Replying to Accountant A:
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By lesandbob
23rd Sep 2016 12:35

There is no tangible property. What is being purchased is basically a data base of landlords and their properties. Some landlords have contracts which are reassigned as part of the purchase, but some do not have contracts, although most do stay with the new letting agent for some years after the portfolio purchase.

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Replying to lesandbob:
paddle steamer
By DJKL
23rd Sep 2016 12:50

lesandbob wrote:

There is no tangible property. What is being purchased is basically a data base of landlords and their properties. Some landlords have contracts which are reassigned as part of the purchase, but some do not have contracts, although most do stay with the new letting agent for some years after the portfolio purchase.

That was certainly like a good horror story; nobody saw it coming.

Perhaps the original posting ought to have been a tad clearer.

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Replying to DJKL:
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By lesandbob
23rd Sep 2016 13:39

Apologies, I should have been clearer first time - I knew what I meant!

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