Charles de Lastic

Registered with
Tuesday 26th April 2016

Insures properties through a broker recommended by Property118

Latest Comments

Total Number of Property118 Comments: 20

Charles de Lastic

8:10 AM, 29th September 2018
About 9 months ago

Charles de Lastic

8:41 AM, 1st August 2018
About 11 months ago

Can I buy Mother's house in installments as IHT planning?

Kate is totally correct.

I have had to deal with a number of cases when people end up paying more tax because they had not sought experienced advice... Read More

Charles de Lastic

10:14 AM, 31st July 2018
About 11 months ago

Can I buy Mother's house in installments as IHT planning?

Hi Xia
Please do not take this as actual advice but I am an IHT specalist but cannot give advice to a non domicile or anyone else without fully understanding their circumstances.

That being said there are a number of issues you need to be wary of.
The advice will be highly dependent on the values of her estate and the property.
I presume that you have already calculated that your mother actually has an IHT liability. She will be entiteld to a normal Nil rate band and also the new Residential nil rate band.
If she has other properties but in your sibling's names who is receiving the income as that may raise an issue.
If you do buy the property from her you will have to ensure it is an "arms length transaction for correct market value. I addition she will have to pay you market rent which will be liable to UK income tax unless it falls below the annual allowance. Also on the eventual sale the share of the property not owned by her will be liable to CGT.
Make sure you get good advice before proceeding... Read More

Charles de Lastic

13:54 PM, 23rd April 2018
About A year ago

Should I invest my pension lump sum in another buy to let?

The very fact that you ask the questions means you need to get experienced help and advice on this as there are too many factors to take into account.
Ideally, use a financial planner who will charge you a fee.
You need to consider all of these factors and probably more.
What is your income requirement now and in the future
What are your assets worth?
What income can they produce if any?
What are your long-term cash flow assumptions for inflation and growth on your assets
What is your attitude to investment risk
Should you use full drawdown, an annuity or deferred annuity
What is the income potential and cost of the property return against the pension
You could make more on the property but as you know you could lose more too - what is your capacity for loss.
Do you even have an IHT problem or are you likely to have one?

Get experienced advice before deciding. Making errors at this stage of your life could have serious consequenses.... Read More

Charles de Lastic

13:39 PM, 23rd April 2018
About A year ago

Give our Buy to Let away?

Yes I agree with Neils comments.

As you say we I presume you own this BTL with your wife and so have two CGT allowances available to use.

However, as it is a gift to your daughter you could look to gift it over a few tax years to avoid the CGT. I am sure you could find a sensible lender who would agree as you would have to be party to the mortgage while some of the property was is your names.
A bit more expensive in legal fees but this is easily saved by the tax mitigation... Read More