Tax Questions

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Forming a company with Buy To Lets by geek84 Started by geek84, 06-01-2018, 16:29 PM	6 responses 427 views 0 likes	Last Post by loanarranger 07-01-2018, 14:40 PM
CGT on selling property by vik2001 Started by vik2001, 30-12-2017, 13:57 PM	3 responses 199 views 0 likes	Last Post by buzzard1994 06-01-2018, 18:33 PM
Removal of conservatory - tax deductible against rental profits? by Little Rabbit Started by Little Rabbit, 30-12-2017, 13:12 PM	4 responses 303 views 0 likes	Last Post by Little Rabbit 05-01-2018, 22:13 PM
how to work out stamp duty if I transfer my flat to wife? by daxu Started by daxu, 28-12-2017, 14:56 PM	7 responses 163 views 0 likes	Last Post by Gordon999 31-12-2017, 13:31 PM
Is my window replacement can be claimed or not? by daxu Started by daxu, 29-12-2017, 15:09 PM	4 responses 426 views 0 likes	Last Post by Gordon999 29-12-2017, 20:13 PM
Service charge - letting expense - which tax year for deduction? by Frascati Started by Frascati, 26-12-2017, 10:39 AM	6 responses 1,383 views 0 likes	Last Post by Gordon999 27-12-2017, 00:07 AM
Renovation/VAT Query by Danm30 Started by Danm30, 26-12-2017, 18:04 PM	2 responses 87 views 0 likes	Last Post by Gordon999 26-12-2017, 23:53 PM
Equipment purchases by rfph1 Started by rfph1, 23-12-2017, 21:48 PM	6 responses 126 views 0 likes	Last Post by rfph1 26-12-2017, 16:09 PM
Can I have my son run my portfolio for me? by teeps Started by teeps, 13-10-2017, 12:35 PM	5 responses 216 views 0 likes	Last Post by teeps 26-12-2017, 15:01 PM
Form 17 - explanation by DDAS Started by DDAS, 23-12-2017, 19:24 PM	2 responses 89 views 0 likes	Last Post by Gordon999 25-12-2017, 00:46 AM

Lease my primary residence to my own LTD company

by Soparles

Hello,

I own a property on a typical residential mortgage and I am moving to the south. My plan is to obtain a consent to let from my mortgage provider and let the property out as a holiday let. I do not plan to buy another property at this time nor do I want to transfer this property...
- Channel: Tax Questions
21-09-2021, 07:15 AM
Reply to Lease my primary residence to my own LTD company

by Soparles

Thanks guys, that’s all understood.

The plan would be to retain all profits within the business to invest in BTL property, so no need for dividends.

Thanks.
- Channel: Tax Questions
22-09-2021, 10:51 AM
Reply to Lease my primary residence to my own LTD company

by jpkeates

If the advice from the lender didn't include a discussion about leasing the property to a company, I'd have the conversation again.
If it did, and the lender doesn't have an issue with it, my concern is clearly academic.

The article you linked to is clearly separating itself from...
- Channel: Tax Questions
22-09-2021, 09:57 AM
Reply to Lease my primary residence to my own LTD company

by Gordon999

( a) I agree adding holiday let income to your own income ,tax on £50K at 40% = £20K , leaving you with £30K in hand .

(b) If you let to Ltd Company at £10K, your tax = £4000.,

The company taxable income = £50K - £10K rent = £40K charged at 19% corporation...
- Channel: Tax Questions
22-09-2021, 09:48 AM
Reply to SDLT Recovery on Selling Query

by Gordon999

I agree with jpk. Your entry cost is £200K. + £5K sdlt + conveyancing solicitor costs + Land Registry costs.
- Channel: Tax Questions
22-09-2021, 07:47 AM
SDLT Recovery on Selling Query

by Sol_1969

Say my wife and I buy a house as a second house. We would pay SDLT at the current rate plus 3%.

If in a few years' time we sell the house and the house has gone up by a considerable amount such that we have to pay CGT.

On selling, is the full SDLT paid recoverable against our...
- Channel: Tax Questions
22-09-2021, 06:03 AM
Reply to SDLT Recovery on Selling Query

by jpkeates

SDLT is a cost associated with the purchase and can be deducted from the gain before tax is calculated.
- Channel: Tax Questions
22-09-2021, 07:36 AM
Reply to Lease my primary residence to my own LTD company

by Soparles

Thanks for your detailed response jpkeates.

I have already received separate advice from the lender regarding the consent to let so I am not particularly concerned with this point.

I have done some reading and have found this link which seems to suggest that this type of...
- Channel: Tax Questions
22-09-2021, 05:58 AM
Reply to Lease my primary residence to my own LTD company

by jpkeates

It is very unlikely that your lender will allow a consent to let for either a holiday let or letting to a company.
So, the first hurdle may be a showstopper.

I don't think HMRC would allow the arrangement that you are proposing.
If you lease the property to your own limited...
- Channel: Tax Questions
21-09-2021, 09:19 AM
Reply to Let Property Campaign.

by Neelix

so you approve of tax evasion ?...
- Channel: Tax Questions
20-09-2021, 21:04 PM

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