Tim Rogers

Registered with Property118.com
Saturday 18th November 2017

Trading Status

Insures properties through a broker recommended by Property118

Latest Comments

Total Number of Property118 Comments: 24

Tim Rogers

20:30 PM, 17th April 2019
About 2 months ago

In the wake of Panorama

Reply to the comment left by terry sullivan at 17/04/2019 - 10:17
Unfortunately,all the time your equipment is able to show the BBC signals you are require to have a license, that includes computers. It doesn't matter if you never watch the BBC.... Read More

Tim Rogers

9:05 AM, 16th April 2019
About 2 months ago

Tenant Fees Act 2019 – Draconian legislation

Reply to the comment left by Whiteskifreak Surrey at 15/04/2019 - 14:49
Unfortunately, if your experience is anything like mine, your MP will not read it. They do not have the will or the time to read correspondence. When you go to meet them they never have the professional courtesy to have actually read the carefully written preceding letter you sent.... Read More

Tim Rogers

19:27 PM, 14th March 2019
About 3 months ago

Friend lending money to buy property - how can I set it up legally?

If your friend lends the money to the company, rather than you personally, then the company assumes the debt. Provided you issue a letter confirming the situation, ( you can pay interest etc if that's your deal), should you demise, the debt is still claimable from the company etc.

Extra security can be offered by allowing your friend to place a charge against the property, assuming the property value is greater than the loan it's a fairly robust structure.

I have a similar arrangement within the family, but in my case I must be seen to be paying sensible interest or the tax man takes a very dim view of this type of arrangement.... Read More

Tim Rogers

11:59 AM, 19th February 2019
About 4 months ago

Purchasing land in personal or Ltd company name

Reply to the comment left by Kulasmiley at 18/02/2019 - 14:01
If you buy in a Ltd there is the consideration of the companies house / accounts overhead in time, effort and cost.

If you structure the ownership of the company in such a way that your daughter has the majority, ( in due time / once 18), whilst you retain the control. Then you can deal with everything but when it comes time to pass it on only the small remaining part switches ownership and would currently be of interest to HMG.

ie, imagine 1000 shares, you have 1 share your daughter has 999, then the value of the company assets is split as per the shares. Hence once you have the land and have built the house only 0.001% of the value switches.

You might consider buying the land in your name, then moving it across into a company once your daughter is 18 and before you start building.

Although my own portfolio is structured like this, I have no experience of how the offset of the new build costs would work for sure. However I think, ( stress think), that the costs would become a debt owed to you from the company, but the resultant value would be an asset of the company. Accordingly you could gift the costs and when you reassign the final 0.001% of the company, pay appropriate minimal tax on the 0.001% of the company value, if required.

There may also be an advantage to splitting the company ownership between your daughter and wife only, whilst you have the cost debt in your name.

There is a delicate balance here between corporate tax, personal tax and inheritance tax, you should be able to completely avoid CGT. I would advise having professional help with this process, both legal and accountancy.... Read More

Tim Rogers

13:29 PM, 18th February 2019
About 4 months ago

Purchasing land in personal or Ltd company name

For the VAT, Jo has covered that above.
A further alternative would be to buy the land in trust for your daughter. Depending on the exact age of your daughter, might you delay until she is 18 and buy the land in her name?
As for 'gifting all your properties', seek advice as there are many pitfalls and I'm told that HMG are looking very hard at this as a further possible taxation revenue.... Read More