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  • Residential to LTD BTL stamp duty on new house?

    Hi all,

    I currently own a property ABC and want to transfer it into a limited company buy to let. My question is split into some parts;

    Will I become a guarantor on property ABC once it forms part of the limited company? If so will this appear on my credit report?
    ...
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  • Coronavirus Consent to Let Residential landlord and Taxes

    Hi,
    I am a first time Landlord. I took out a Consent to Let last year when i moved in with my mum to look after her. My mortgage is on SVR. I was suppose to move back into my flat but the government issued a 3 months stay put order due to COVID-19.

    i wanted to move back in before...
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  • Voluntary removal of one Joint Owner in a BTL house

    I own a BTL house with my two adult children as Joint Owners (tenants). I wish to remove my name from the Land Registry record. What would be the Tax implications of such action?
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  • Can someone tell me how much capital gains i will have to pay

    Hi all,
    I own 2 properties, one is my main residence and the other is a rental property which ive let out since ive owned it from 1996.
    I am mortgage free.
    I paid £43,000 for the rental property and its now worth around £500,000
    Does anyone know what the CGT would be if i...
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  • NDNUT
    started a topic Paying tax on rent

    Paying tax on rent

    HI all,

    Scenario below:

    I'm looking into renting out my flat as have moved to a bigger house with pregnant partner. My partner doesn't work but I am in the higher tax bracket. Which (if any) is the best way to proceed?

    Can I have the rent paid directly to partner...
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  • nicolabryan
    started a topic Renovation of empty property to let

    Renovation of empty property to let

    Hi

    i was hoping someone could help. My partner and i have bought a property to let. It has been empty for almost 2 years (2 years come January 2020).

    it needs a lot of work doing to make it liveable particularly in respect of damp. Am i correct in saying if the work would be...
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  • Buy to let property with mortgage - what can be put against tax

    Hi.

    We purchased buy to let property with a small 5 year mortgage.

    1. We paid 3% stamp duty on the sale (£4000). Can it be put against tax?
    2. Can we put the mortgage repayments against tax because we heard from our mortgage broker that tax relief is fazed out gradually,...
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  • Hlacey1410
    started a topic Tax Deductible?

    Tax Deductible?

    I have a flat that I rent out that I have found out is subject to a doubling ground rent clause. I have the chance to get a deed variation but it's going to cost me double the amount of someone who lives in their property to get the variation (£4k!!) Is this something that is tax deductible?...
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  • Sanity check for income tax payment

    Hi, I’m convinced I’m paying too much additional income tax from my rental income. As a rough “sanity check” , am I right in saying that I simply add the income from the rental property( minus deductible items) to my gross income(day job) and then recalculate the tax I should be paying for the...
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  • Self assesment: boosting my annual income temporarily this tax year

    I receive rental income from a few properties owned by my wife and I.

    Up until now, we split the income 50% each. This year however, I want to increase my annual income - effectively redirecting some of my wife's income to myself.

    The net tax effect should be nill (for what...
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  • xeel
    started a topic Making wife the beneficiary owner of the property

    Making wife the beneficiary owner of the property

    This question has been asked a few times on the forum but it doesn't match my exact circumstances hence again:

    I am the sole legal owner of the property. The property is mortgaged in my name along with a 20% help to buy equity. Due to unavoidable circumstances, I have to move out of the...
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  • richard.c
    started a topic How to split tax with my daughter

    How to split tax with my daughter

    I bought a property with my daughter while she was at university, both names are on the mortgage. We have just rented the property out and this is my/our first rental investment.

    I currently live overseas in a tax free environment and she has just started working and a basic rate tax payer....
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  • Tax on UK property when living and earning a salary abroad

    Hello,

    We are considering a move abroad (America) with my work but own a few rental properties in the UK - does anyone know how we would get taxed on our rental earnings? I’m guessing we won’t receive the £11k/each tax free allowance and 20% thereafter up to £46k. I can’t work out...
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  • CGT on sale of mixed residential/rented property

    Hi there,

    First post on the forum. Needed some advice or insight about my current scenario concerning my property. Currently own a one bed flat which I purchased late October 2017 for £141k. As I own another property I had to take the extra surcharge amounting to an additional £4.5k....
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  • Snowynight
    started a topic Declaration of bare trust for tax planning

    Declaration of bare trust for tax planning

    I own a buy-to-let property with mortgage in my sole name. I'm a 40% taxpayer and my wife doesn't have income. I would like to write a declaration of bare trust to transfer the beneficial ownership to my wife to use her tax allowance, but I will remain the sole legal owner on the title.
    1. Is a declaration
    ...
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