andy p

Registered with Property118.com
Thursday 4th May 2017


Latest Comments

Total Number of Property118 Comments: 4

andy p

21:25 PM, 26th May 2017, About 4 years ago

Transfer of property between spouses

Hi Mark

Thank you for the clarification regarding CGT and SDLT. We'll have to clarify this gifted deposit arrangement with a broker then.

It's not actually an arrangement for current income tax or onward Sec 24 liabilities, so the declaration of trust ( although an attractive option in those circumstances ) wouldn't actually apply.... Read More

andy p

22:58 PM, 9th May 2017, About 4 years ago

Setting up a company to manage my own properties - is it worth it ?

Reply to the comment left by "Jon Delorean" at "09/05/2017 - 14:42":

This is my concern regarding this method of operation, that HMRC don't consider it a legitimate scheme as you are essentially just redistributing income away from your personal liability via the LLP structure and the benefit this would bring.
I'm reassured that some contributors to the forum have evidently used this method successfully, some for a number of years. It would bring a real tangible benefit to my own circumstances in that I have this year stopped expansion due to the SDLT increase and Sec 24, and therefore going forward I won't have finance costs to offset. My rental turnover would make there ability to reduce up to 15% in management fees very attractive if this can actually be legitimately achieved... Read More

andy p

16:51 PM, 4th May 2017, About 4 years ago

andy p

16:05 PM, 4th May 2017, About 4 years ago

Setting up a company to manage my own properties - is it worth it ?

I have considered this option for my portfolio of personally held property as a method of reducing my personal taxable rental income. The 15% management fee quoted reflects what letting agents charge in my local area and I already do the vast majority of the management of my own properties anyway.
However, has this method of operation been fully explored as legitimate tax avoidance ? In my personal circumstances I would not be looking to manage any other property within this Ltd management company structure other than my own.... Read More