Simon Misiewicz

Registered with Property118.com
Wednesday 20th January 2016


Latest Comments

Total Number of Property118 Comments: 8

Simon Misiewicz

13:14 PM, 1st August 2016
About 3 years ago

Ripped Off By A Mortgage Lender?

I am booked on and ready to go!!!... Read More

Simon Misiewicz

22:03 PM, 24th May 2016
About 4 years ago

Transferring BTL deposits from my trading company to SPV?

The pros of making it a subsidiary is that dividends payment between companies is free from tax.

The cons as Mark quite rightly says is the risk of one failing. Given that you are an IT contractor and have suitable insurance in place then you should not need to worry about that.

You can also create a loan between companies but I would suggest that you use a commercial rate of 3.5% to keep HMRC happy.

Warm regards

Simon... Read More

Simon Misiewicz

22:00 PM, 24th May 2016
About 4 years ago

2nd property tax when buying out share of jointly owned inherited property?

This will be considered linked transactions so they will need to be added (paying of the two other people involved). As such the SDLT will be the consideration however there is no SDLT below the £125K anyway so there is nothing to pay.

In regards to the 3% surcharge again I agree with the above whereby if it is her only home then there will be no surcharge at all.

I hope my 0.000001% helps

Warm regards

Simon... Read More

Simon Misiewicz

10:37 AM, 23rd May 2016
About 4 years ago

Not the time to sell and will CGT ever come back down?

I agree with you Ian and that is the advise we give to our clients. That said property does give you income before you retire. Those looking for capital growth should first look at pensions, especially SIPPs whereby they control the investments.... Read More

Simon Misiewicz

9:43 AM, 19th May 2016
About 4 years ago

Not the time to sell and will CGT ever come back down?

As an aside you can get Private Residence Relief for the time that you lived in the property.

If you also moved back into the property then you can also get additional 4 years irrespective if you rented the property out or if it was left empty.

Certain other periods of absence from your dwelling house may be treated as periods of residence if:

during the period, you have no other dwelling house eligible for relief
both before and after the period there is a time when the dwelling house is your only or main residence
If you have another dwelling house eligible for relief, for example a house or flat which you bought or rented as your home while absent, you will need to make a nomination in favour of the original dwelling house, if you want the period of absence to be treated as a period of residence at that house, see ‘Only or main residence’ above.

The qualifying periods of absence are:

a. absences for whatever reason, totalling not more than 3 years in all

b. absences during which you are in employment and all your duties are carried on outside the United Kingdom (UK)

c. absences totalling not more than 4 years when

Source: https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet/hs283-private-residence-relief#residence-provided-for-a-dependent-relative... Read More