I want to not pay tax for a long time

If you are a UK tax payer and do not currently pay tax but do have an income source, you may be able to continue to mitigate your future tax liability

Case study

Mr X purchased an apartment in Spain in 2004 for £85,000 which meets the availability and letting day rules.  £25,000 of Plant & Machinery allowances were identified resulting in a tax refund of £2,000 for 2010/2011.  From 2011/2012 onwards, the Capital Allowances can be used to reduce the taxable profit from the holiday let to nil.

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