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Where Taxpayers and Advisers Meet

Search found 4 matches

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by Charliestaffs
Sat Oct 17, 2020 6:07 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Control Everything Own nothing. Trust planning
Replies: 2
Views: 593

Re: Control Everything Own nothing. Trust planning

I'm not sure that a trust makes much sense. At present you own and live in your property. On sale there would be no CGT to pay on any gain. Putting it in trust achieves nothing material. It is also easier to remortgage a property directly owned. Your father if he wishes to gift the property could s...
by Charliestaffs
Sat Oct 17, 2020 9:46 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Control Everything Own nothing. Trust planning
Replies: 2
Views: 593

Control Everything Own nothing. Trust planning

Hey guys. I am divorced and have two young children 6 and 8. I own my house with no mortgage about market value about 70k. I would like to transfer this property to some trust so I can control it, sell it buy other properties in it and transfer it to the kids when they are 25 years old. Also my fath...
by Charliestaffs
Wed Nov 20, 2019 2:04 pm
Forum: Property Taxation
Topic: Property Development First year accounts
Replies: 2
Views: 723

Re: Property Development First year accounts

Thanks for your reply. I have read some articles and it does look a right approach, however I believe I have overlooked a very big issue when paying the demolition company and tree removals £7500. I believe I should have processed it via CIS that I have not registered yet. I am going to register for...
by Charliestaffs
Tue Nov 19, 2019 3:34 pm
Forum: Property Taxation
Topic: Property Development First year accounts
Replies: 2
Views: 723

Property Development First year accounts

Hello I have bought a residential property with a bit of land via company and planning to renovate the building and build 2 properties on land and sell it. I am going to hire an accountant when planning permission is granted to help me get finance however now the company first accounts are dues. I h...

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