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Started by DavidJohn7, 30-09-2017, 15:55 PM
11 responses
237 views
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Last Post tatemono  
Started by paultheknight, 02-10-2017, 09:58 AM
5 responses
111 views
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Last Post theartfullodger  
Started by Social1, 29-09-2017, 07:46 AM
3 responses
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Last Post Gordon999  
Started by dominco, 25-09-2017, 21:59 PM
5 responses
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Last Post dominco
by dominco
 
Started by dominco, 23-09-2017, 19:57 PM
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Last Post Gordon999  
Started by max_co71, 24-09-2017, 18:20 PM
3 responses
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Last Post tatemono  
Started by pink0806, 25-09-2017, 07:33 AM
3 responses
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Last Post ram
by ram
 
Started by 123Landlord, 24-09-2017, 19:02 PM
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Last Post jpkeates  
Started by steven239, 24-09-2017, 14:31 PM
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Last Post steven239  
Started by steven239, 23-09-2017, 17:56 PM
3 responses
80 views
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Last Post steven239  
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  • transferring part of ownership to wife for tax reasons
    joshua
    hello. at the moment i am sole owner of a rental property, mortgage free.
    I would like to transfer some of the ownership to my wife in order for us to split the rental income 50/50.
    I have done some research, but would like confirmation - is what I need to do a 'declaration of trust' to...
    16-02-2018, 08:48 AM
  • Reply to transferring part of ownership to wife for tax reasons
    Nigel Nicholson
    Yes I think you have got that right, as in indicated in my posts. Plus a stated on the HMRC site. there are special rules for married couples (or civil partnership) - good luck...
    20-02-2018, 21:16 PM
  • Stamp Duty query
    HP mum
    I originally posted in the finance section - but I now think this is more of a tax question. Some questions arose during a discussion yesterday and I just wondered if anyone has any thoughts/ answers on the below?

    1stly) If someone (or company) buys a debt that has a legal charge over...
    20-02-2018, 11:36 AM
  • Reply to Stamp Duty query
    HP mum
    Thank you JP this helps me. It's good to know the property value / duty payable is separate from the debt....
    20-02-2018, 20:51 PM
  • Complex (for me!) CGT question on 2 property ownership...
    Raymondus
    Hi, this is my first post and I'm looking for some initial guidance on what I think is a somewhat complicated problem i'm heading towards...
    Apologies, its a long post!

    The facts:

    In 1983 my parents and I purchased our family council home under the Thatcher 'Right to...
    19-02-2018, 13:42 PM
  • Reply to Complex (for me!) CGT question on 2 property ownership...
    jpkeates
    I don't think the changes in allowances or rules over time will have too much effect.
    You can probably work it out in Excel - but, if it were me I'd let an expert do it for me, just for the peace of mind.
    20-02-2018, 17:15 PM
  • Reply to Complex (for me!) CGT question on 2 property ownership...
    Raymondus
    Yes, I think you are right jpkeates. What started out as a fairly simple purchase and investment all those years ago has a life of its own now and has become complicated. I didn't for instance know if I might be able to claim PRR for the 3 years I was there when we first purchased it but just having...
    20-02-2018, 14:44 PM
  • Reply to Complex (for me!) CGT question on 2 property ownership...
    jpkeates
    You're probably going to need a tax specialist.
    When you are tenants in common with a percentage ownership, who lived where and when becomes critical and fiddly.

    For example, your third is subject to PPR for periods you were living there, but not when you weren't - family home or...
    20-02-2018, 12:55 PM
  • Reply to Complex (for me!) CGT question on 2 property ownership...
    Raymondus
    Hi JPKeates, we were tenants in common and what happened was my father left his share to my mother so she had 67% and I had 33%, which changes the figures Gordon 999 came up with.

    Re your response Gordon999 - thank you so much, you made me realize the obvious - that I hadn't actually owned...
    20-02-2018, 12:46 PM
  • Reply to Stamp Duty query
    jpkeates
    Transactions are "connected" based on the facts of the transactions.

    You don't buy a property and its debt separately.

    In the example you give, the property is worth £3.5m, anyone buying it at £1.5m would be taxed as though the transaction was £3.5m - unless they...
    20-02-2018, 12:21 PM
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