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Where Taxpayers and Advisers Meet

Search found 224 matches

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by AdamS93
Sat Aug 03, 2019 8:17 am
Forum: Property Taxation
Topic: Property Development Business Structure
Replies: 5
Views: 792

Re: Property Development Business Structure

The best advice one can give would be to get an accountant on board. There are plenty of traps that you could fall foul of, especially dealing with property. Most in your position would go down the ltd route, but everyone's situation is very different! On the basis of the facts provided, you are onl...
by AdamS93
Sat Jul 13, 2019 8:39 am
Forum: Capital Gains Tax, CGT
Topic: CGT and PRR on sale of Property
Replies: 4
Views: 521

Re: CGT and PRR on sale of Property

Thank you. I am just not sure what the acquisition and disposal figures will be? Let’s say: 1. we bought for £150k in equal shares 2 I transferred 48% leaving me with 1% when we started letting. 3. I am transferred back the 48% when we are ready to sell. 4. We dispose at £250k and hold equal shares...
by AdamS93
Tue Jul 09, 2019 5:26 pm
Forum: Income Tax
Topic: Tax implications for Foreign owner of UK business
Replies: 2
Views: 412

Re: Tax implications for Foreign owner of UK business

When you say business, do you mean company?
by AdamS93
Wed Jul 03, 2019 8:15 am
Forum: Property Taxation
Topic: Splitting a company in 2
Replies: 3
Views: 578

Re: Splitting a company in 2

Probably best you get some professional advice. You are probably talking significant amounts of money being a property development company.

There are also transactions in land and transactions in securities anti-avoidance rules that will have to be considered and planned around.
by AdamS93
Mon Jun 17, 2019 1:50 pm
Forum: Property Taxation
Topic: selling a BTL and change of ownership
Replies: 10
Views: 1041

Re: selling a BTL and change of ownership

Thanks for the replies. I am actually upgrading the kitchen and bathroom to get a better sales price, I wouldn't call it high end but it's better than the original. I'll have a good read before I do my tax return. It's not a huge amount of money either way as hopefully I'll get all the capital gain...
by AdamS93
Wed Jun 12, 2019 11:34 am
Forum: Property Taxation
Topic: incorporating my properties into limited company
Replies: 5
Views: 677

Re: incorporating my properties into limited company

I have never seen incorporation relief claims for just 5 properties... It would be a waste of time (and money) incorporating your wife's properties in my opinion. It is possible to get around SDLT but I think CGT will be far harder to avoid. You also have the problem of transferring the mortgages to...
by AdamS93
Sat Jun 08, 2019 3:57 pm
Forum: Capital Gains Tax, CGT
Topic: Selling rented houses and CGT
Replies: 3
Views: 280

Re: Selling rented houses and CGT

'Is this still a legitimate way to sell without paying CGT?' It never has been and still isn't. You probably heard this from a mate down the pub, which are probably best ignored. You look at the periods of owner occupation and apportion the gain between periods of owner occupation and periods you re...
by AdamS93
Sat Jun 08, 2019 9:47 am
Forum: Capital Gains Tax, CGT
Topic: bought new house and now selling current home
Replies: 5
Views: 353

Re: bought new house and now selling current home

Once you move to your new home, the clock starts ticking on your old house... if not sold within 9 months you will have to consider CGT. The longer it goes unsold beyond the 9 month period, the more the CGT.
by AdamS93
Thu May 23, 2019 6:51 pm
Forum: Business Tax
Topic: Property business tax
Replies: 3
Views: 462

Re: Property business tax

You've got your tax blinkers on. If you purchase another property it is an ASSET and not an expense. Paying 19% corporation tax on your profits is not the end of their world (most countries have far higher rates of corporation tax). Spending £1,000 just to save £190 in corporation tax is the equival...
by AdamS93
Wed May 22, 2019 5:46 pm
Forum: Property Taxation
Topic: CGT on a plot with planning permission
Replies: 2
Views: 475

Re: CGT on a plot with planning permission

I wouldn't be confident that the SPV would qualify for entrepreneurs relief based on the facts provided. For meaningful advice, you want to sit down with a professional with the figures, a forum will only point you in the right direction. Professional advice can literally save you thousands in this ...

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