Hi, I hope I can write this in a clear way that makes sense!
We bought a leaseholders flat in 2016, the next year we bought the limited company that held the freehold. This was done as no other leaseholder were interested in buying the freehold a few months prior to us buying our leasehold...
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Reply to Sale of Freehold - Tax to Payby sgclacyIt may be best to state that the company held the property in trust for you and therefore it is very important that in your personal tax return you show the gain. You must take professional advice on this
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Channel: Long Leasehold Questions
16-08-2022, 23:54 PM -
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by Martin448AHi,
received a letter out the blue from someone claiming to be the executor of the deceased freeholders of my leasehold maisonette. Have never receive ground rent request for payment for any of the years I have owned the property or has the other maisonette in my building.
They are now requesting...-
Channel: Long Leasehold Questions
16-08-2022, 00:30 AM -
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Reply to Ground rent arrears from executorby LawcruncherThat may not be the case. See this thread: https://forums.landlordzone.co.uk/fo...and-limitation
Interest can be charged if the lease allows it. However, no interest can be charged before the service of a section 166 notice because...-
Channel: Long Leasehold Questions
16-08-2022, 21:35 PM -
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Reply to Sale of Freehold - Tax to Payby divadeeAnd one last image as it only let me attach 2 at a time....
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Channel: Long Leasehold Questions
16-08-2022, 20:09 PM -
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Reply to Sale of Freehold - Tax to Payby divadeeOh god I have a feeling something may have gone horribly wrong in all of this and we may of messed up! We have been advised by our management agents throughout all of this (who have managed the property for a good number of years as the previous freeholders used them as well) and just trusted what they...
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Channel: Long Leasehold Questions
16-08-2022, 20:08 PM -
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Reply to Sale of Freehold - Tax to Payby sgclacyIt would appear to have claimed roll over relief on the statutory lease extension where £14k was received - unless you had bought a property to roll over the gain this may have been premature
so on a base cost of £18k you will have received £12k plus £14k a gain of £8k so corp tax...-
Channel: Long Leasehold Questions
16-08-2022, 19:53 PM -
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Reply to Ground rent arrears from executorby Martin448AGround rent is £75 year, don’t have lease details with me but around 150 years
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Channel: Long Leasehold Questions
16-08-2022, 19:51 PM -
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Reply to Sale of Freehold - Tax to Payby Gordon999Here is my rough understanding of your situation :
1. Your purchase of the limited company for £17K in 2017 was probably entered in the company's accounts as funded by a "director's personal loan".
2. The limited company received £14K for granting...-
Channel: Long Leasehold Questions
16-08-2022, 19:09 PM -
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Reply to Ground rent arrears from executorI suggest you buy the freehold. It is never great when they change hands and people are not being fair....
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Channel: Long Leasehold Questions
16-08-2022, 18:12 PM -