Property 118

Cases

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Is anyone aware of any taxpayers attempting to have the Property 118 scheme unwound at court?

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By SXGuy
18th Apr 2024 14:53

I am aware of an accountancy firm helping clients with property 118 and less tax for landlords but not aware of any tax payers personally.

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By Justin Bryant
18th Apr 2024 15:11

I think that would probably be a dumb thing to do in most (if not all) cases. It's probably better to sue whoever cocked things up if it's really that bad.

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Replying to Justin Bryant:
By SteveHa
19th Apr 2024 13:49

I'm exploring options, is all, at the moment.

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Replying to SteveHa:
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By Tax Dragon
19th Apr 2024 15:10

Maybe the client should take legal advice as to whether such a course of action would be possible [is an 'option'] in their case. What other people have or haven't done doesn't seem hugely relevant - just as it's always recommended to obtain a personal Opinion, not rely on a generic one (remember Justin's thread on that?)

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Replying to Tax Dragon:
By SteveHa
19th Apr 2024 15:47

Oh, the intention is to advise them to seek counsel. I'm just setting out my stall.

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