Is an LAQC right for me?
Question from Matt updated on 24th October 2008:
Our expert responded:
Whenever people consider property investment only from the tax benefit angle, they overlook other issues that are just as important, if not more important, and need to be considered as part of the overall equation. Some other issues to be considered include whether you have a partner or children or plan to in the future, what your tax position will be if you return to the UK for a period of time and whether or not you will want to leverage against the investment properties for buying your own home, to name a few. The answers to these questions and others will determine the path you need to take. In other words, based on the small amount of information you've given, I'm not convinced that an LAQC is right for you when you look at the big picture.
Kenina Court is a director of Acorn Solutions Limited, an accounting firm dedicated to working with clients to help them create wealth. She is an avid property investor, entrepreneur and seminar presenter on asset protection and wealth strategies.