US property tax

[Ballistic]

Hello, I wold appreciate some info on the pros/cons of buying a US (Florida) property as a UK citizen.
Specifically, I would like to know if it is more financially beneficial to buy as a couple or to set up a trust and transact via that. What taxes can be reduced/avoided by buying through a trust instead of in joint names.
Lastly, how much and easy is it to set up a trust for this purpose?
Thank you for your help.

[cranleys]

Hi Ballistic

You can have a number of trusts and the advantages will be potentially tax free income for the property concerned where positioned offshore.

The problem will be in obtaining finance though if you are not offshore yourself.

I would not recommend a UK trust with potentially much higher taxes.

See what the finance options are first.

Colin Davison
Property tax accountant and advisor
Cranleys Chartered Accountants.
colin@cranleys.co.uk
+44 1256 830000