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Hi, I used to live in Berkshire but two years ago I moved to a new property in London. However, due to the current circumstances, I doubt I can sell it for a decent price.

Therefore, I am thinking of selling the old property to a limited company that I will create. I will be creating a brand new limited company to purchase my Berkshire property. Can someone tell me how a limited company can reduce the burden of the stamp duty by offsetting as an expense. Who was it said that progress is mans ability to complicate simplicity which is certainly true when it payday loans miami comes to otherwise transactional taxes such as SDLT.

Thanks for your response and yes, I am keen to have a chat to talk more.

You are right that I am a higher rate tax payer and a portfolio landlord. Finally, I will still be able to avail of the mortgage interest relief. I forgot how much I hate Stamp Duty, it is such an inefficient tax as it is a disincentive to transact. I used to invest in Australia and had to pay this but now I invest in long term loan bad credit USA and instead we pay yearly taxes. It allows you to buy and sell properties much more freely. I guess the value of the flat gets registered at the time of transfer to me based on estate agent estimates, so any future CGT I have to pay will be based on current or near future values and not that original price they paid waaay back.

I know children have a claim in Scotland of a percentage of wills left entirely to a wife unlike the rest of the UK. I think the re-writing of the will in favour of you, the son, seems perfectly straight forward but I would double check with an accountant to see if there are any tax implications. Personally I cannot see any, but I am not a tax cash and loan expert. As there would be no IHT being below that threshold in this case, POAT WOULD be likely from the outset, or applied retroactively from the period payday loans miami when where can i apply for a loan with bad credit the owner became the tenant paying no rent. It seems if they cannot get you on IHT POAT would be pursued - but never both together.

If your mother does not have an emotional attachment to the property, what about selling in your mothers name (no CGT as she lives there? Then your mother could make various tax free gifts over the years (I think the 7 year rule is still active? I am relatively new to property, I have bought and sold a couple of properties that I have lived in but not really as a business. I am now looking to create a portfolio of buy to let properties. I will be creating a Limited company and looking for a good Accountant, Financial Advisor and Mortgage Advisor to help with building my business. Have you checked the cut-off point when it is more financially viable to own properties in a company than in your own name?

Will I be taxed on this when I go through the conveyancing process and will show up on the completion statement once the sale goes through? I strongly recommend taking advice from an accountant with regards to your potential income tax liability. It may not be as straightforward as you suggest as there could well be additional costs which you can offset against rental income. I presume that you are living in the property at the moment as you do not mention the potential issue of tax related to 2nd home investments? There are six tax-years concerning the 58 month period. I read HMRC have authority to go back 20 years to claim back. Once I have the bank statements and tax calculations of the other tax years, I will have a clearer view on where I stand. Will I be taxed on this when I go through the conveyancing process and will show up on the completion statement once the sale goes through?

There should be no impact on the sale but I would strongly suggest that you carry out the property let campaign to declare your income in the past: I dont see how the tax would show up on the property sale documents as this is a personal issue and not one connected to the property. Unless HMRC had some kind of call on the property to meet a tax bill, unlikely as they dont ez loan services even know there may be a tax liability, this should not impact your sale in any shape or form.


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In the UK the main benefit in buying a primary residence property is the capital gains tax exemption if you were ever to sell your home.

From payday loans miami an investment point of view this would depend how you structure your investments, are they in your own name, company, partnership, etc.

The amount of debt taken on to acquire property could also play a role in your eventual tax bill. If you are buying an investment property to let - in your own name - then you will lose out on mortgage interest relief if you are a higher rate taxpayer as the UK government is phasing this out. You can get round this by buying in a company but there are other issues to consider before trading through a company.

I am from Australia and there are very little tax advantages of owning a primary residence there. I always rented cheap installment loans where I lived and bought investment properties. I ended up with 6 single family properties in Australia and still rented. I ended up moving to New Orleans and the fact that I rented made that transition super easy. In the UK you dont pay CGT on your primary residence. However, overall the UK has some of the highest property related taxes in the world.

It has become a constant flow of income for this payday loans miami government and previous governments.

For many years now the primary residence residence of those living the UK has been shielded from CGT. All hell would break loose if this was ever to change!

Online and offline property investment courses, ebooks, training videos, seminars, mentoring and events... Read reviews and recommendations from our members and suggest any educational resources you would like Property Forum to include. In the UK the main benefit in buying a primary residence property is the capital gains tax exemption if you were ever to sell your home. From an investment point of view this would depend how you structure your payday loands investments, are they in your own name, company, partnership, etc. The amount of debt taken on to acquire property could also play a role in your eventual tax payday loans lenders online bill.

If you are buying an investment online pay advance property to let - in your own name - then you will lose out on mortgage interest relief if you are a higher rate taxpayer as the UK government is phasing this out. You can get round this by buying in a company but there are other issues to consider before trading through a company. I am from Australia and there are very little tax advantages of owning a primary residence there. I always rented where I lived and bought investment properties. I ended up with 6 single family properties in Australia and still rented. I ended up moving to New Orleans and the fact that I rented made that transition super easy. In the UK you dont pay CGT on your primary residence. However, overall the UK has some of the highest property related taxes in the world. It has become a constant flow of income for this government and previous governments.

For many years now the primary residence residence of those living the UK has been shielded from CGT. All hell would break loose if this was ever to change!

I guess the value of the flat gets registered at the time of transfer to me based on estate agent estimates, so any future CGT I have to pay will be based on current or near future values and not that original price they paid waaay back. I know children have a claim in Scotland of a percentage of wills left entirely to a wife unlike the rest of the UK. I think the re-writing of the will in personal loans direct lenders favour of you, the son, seems perfectly straight forward but I would double check with an accountant to see if there are any tax implications. Personally I cannot see any, but I am not a tax expert. As there would be no IHT being below that threshold in this case, POAT WOULD be likely from the outset, or applied retroactively from the period when the owner became the tenant paying no rent. It seems payday loans miami if they cannot get you on IHT POAT would be pursued - but never both together.