Tax Questions

		Statistics	Last Post
CGT and IHT by hotdog Started by hotdog, 25-06-2012, 16:05 PM	2 responses 619 views 0 likes	Last Post by Gordon999 25-06-2012, 18:18 PM
Tax Advice by Spewy Started by Spewy, 21-06-2012, 14:24 PM	3 responses 1,110 views 0 likes	Last Post by Telometer 25-06-2012, 16:52 PM
And another CGT ? by Claymore Started by Claymore, 21-06-2012, 21:18 PM	1 response 654 views 0 likes	Last Post by Telometer 25-06-2012, 09:47 AM
a capital gain question by halfax Started by halfax, 20-06-2012, 08:42 AM	2 responses 791 views 0 likes	Last Post by halfax 21-06-2012, 12:36 PM
Expenses OUTSIDE the rent a room scheme by Davo84 Started by Davo84, 18-06-2012, 21:41 PM	7 responses 1,055 views 0 likes	Last Post by Davo84 20-06-2012, 10:49 AM
VAT receipt for carpet? by artford2 Started by artford2, 16-06-2012, 14:45 PM	4 responses 1,874 views 0 likes	Last Post by Telometer 19-06-2012, 08:43 AM
bathroom by tinkinjapan Started by tinkinjapan, 18-06-2012, 10:24 AM	1 response 868 views 0 likes	Last Post by Telometer 19-06-2012, 08:42 AM
Tax return by TREK Started by TREK, 18-06-2012, 07:51 AM	1 response 727 views 0 likes	Last Post by Phlash 18-06-2012, 15:27 PM
New kitchen by Laurasplog Started by Laurasplog, 15-06-2012, 10:34 AM	5 responses 1,284 views 0 likes	Last Post by Telometer 16-06-2012, 20:23 PM
Pay wife a wage to administer property as she does not work currently by tanco Started by tanco, 13-06-2012, 22:01 PM	3 responses 1,223 views 0 likes	Last Post by TaxationPete 15-06-2012, 08:42 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
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 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
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
Let Property Campaign.

by armour

Hi all,

A friend of mine has been renting out a flat since 2004 and has not declared any of the income to HMRC in all that time.

She wants to come clean and pay the accumulated income tax she owes by making a non-prompted disclosure using the Let Property Campaign system....
- Channel: Tax Questions
13-09-2021, 13:45 PM

Latest Topics