Any property tax experts you can recommend please?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #16
    Thank-you for the link.

    Well my issue is Tax & Assets.

    Firstly, I am in the process of building a house in my side garden, when complete I will own two properties.

    Will I have to pay stamp duty for the new build?

    Because I am an old dad and my two children are still quite young 6&9 I would like to have something in place for them just incase I am not around by the time they are 18.

    Can you put a property into a trust and later take it out, put me back in control of the property?

    Are there penalties for this kind of action?

    Many Thanks

    Comment


      #17
      You'd probably be advised (by a proper grown up legal person) to will it to your children, but into a trust if they're under 18.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment


        #18
        If I put the property in a trust for them, can I at a later date close the trust and take the property back?

        Comment


          #19
          It would require the consent of the trustees, one of whom could be you and it would have to be in line with the purpose of the trust.
          If you are not acting in the interest of the beneficiaries, they could try and prevent you doing what you propose.

          I am not at all sure what you're trying to achieve.
          You seem to be trying to look after your children, but not.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #20
            I like the Idea of knowing that my children will get my property oneday but would like to avoid as much interaction from these legal people as possible.

            Comment

            Latest Activity

            Collapse

            Working...
            X