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Started by jaymondo, 27-11-2017, 20:00 PM
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by bowsden
 
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  • MTD and an End to Accidental Landlords ?
    by landlord-man
    Now that we know every LL will be captured by the new MTD Reporting Rules from April 2023 (at the latest) - do you think LLs with just one property will abandon the PRS in large numbers?

    I'm unsure whether Letting Agents will be competent enough to take on this responsibility - and I cannot...
    17-04-2021, 09:17 AM
  • Reply to MTD and an End to Accidental Landlords ?
    by landlord-man
    The answer is in the name - Making Tax Digital.

    No more paper submissions...
    19-04-2021, 20:41 PM
  • Move to LTD Company and
    by Hama
    Hi All,

    My first post and after some advice please.

    Currently have 1 buy to let property that I am planning on transferring to a new LTD Company due to higher tax rates, we will be investing further into property in the future too.

    I understand that transferring...
    19-04-2021, 20:36 PM
  • Gift Property to avoid Stamp Surchage
    by wangw
    Hi guys,

    1st post here thought I try my luck here.

    I have a fairy basic question which I thought many would have come across. I currently own 100% of my main residence (call property 1), and I live with my unmarried partner who has no property under her name. I am at 45% tax...
    19-04-2021, 15:44 PM
  • Reply to Gift Property to avoid Stamp Surchage
    by Neelix
    Just watch out she doesn't leave you as soon as the transfer is complete ...................
    19-04-2021, 17:59 PM
  • Reply to Gift Property to avoid Stamp Surchage
    by wangw
    I suppose the other alternative is to buy the property 2 in her name (provided she can afford the new mortgage, if not we can look at JBSP), wait till legally married and we are free to transfer the properties between us. With interest rates where it is, the actual tax savings would probably be min...
    19-04-2021, 17:55 PM
  • Reply to Gift Property to avoid Stamp Surchage
    by wangw
    yeah it is a good question. as it will be a BTL so will just be the usual BTL prudent tests, hopefully just a question of can the rent cover the amount we want to borrow. I think some banks may not be willing to lend to her if she has no other main residence (i.e. HSBC has this rule).

    ...
    19-04-2021, 17:53 PM
  • Reply to Gift Property to avoid Stamp Surchage
    by Neelix
    I suppose the obvious question is can your partner remortgage property 1 with no previous mortgage history ?...
    19-04-2021, 17:19 PM
  • Reply to Gift Property to avoid Stamp Surchage
    by AndrewDod
    Yes most of what you say is right. There is a heavy tax on marriage - which you are avoiding by being unmarried.

    - Resetting the market value for purposes of her CGT which you would be unable to do if married
    - Avoiding SDLT on other purchases in YOUR name
    19-04-2021, 16:45 PM
  • Tax situation on money I paid for deposit
    by Thurrock1
    Hi, I bought a BTL flat in 2008 and wanted to recoup the deposit I paid on this (approx £25000). It is in joint names but the deposit was paid by me only. I wanted to take back that money and wondered how to list this in the SA tax return. If anyone can advise me i would be really grateful. Th...
    18-04-2021, 08:26 AM
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