Peter Gulline

Registered with Property118.com
Thursday 18th July 2013


Latest Comments

Total Number of Property118 Comments: 12

Peter Gulline

11:20 AM, 3rd September 2021, About a month ago

Landlord Haters wanted Pet deposits banned - Now they wish to reverse that decision

Same here in scotland with the new PRT which we all have to use. Rents have rocketed as we only get a 28 day lease which rolls month to month. Not able to plan or advertise in advance anymore. No commitment from tenants and many use it as a way to get 2 or 3 months leaving you empty over the winter.... Read More

Peter Gulline

17:02 PM, 19th April 2018, About 4 years ago

Ltd Company interest on Directors loan?

Reply to the comment left by Paul Mullally at 19/04/2018 - 17:01
Great Paul - All that hard saving looks like its going to pay off ....not a load of cash but enough to get by.... Read More

Peter Gulline

16:57 PM, 19th April 2018, About 4 years ago

Ltd Company interest on Directors loan?

Reply to the comment left by Paul Mullally at 19/04/2018 - 16:42
So i wont be hit for 20% tax on the interest on my self assessment as its already been deducted on the CT61 .....as long as i stay below £46 k. which i will... Read More

Peter Gulline

15:59 PM, 19th April 2018, About 4 years ago

Ltd Company interest on Directors loan?

Thanks everyone ,
I dont want to take the £375k out until I sell all the flats as I see that as a way to get a chunk of cash in 10 years time. Of which £375k will be tax free.

My main concern is that if i charge 6% which equals £22500 which after 20% CT61 deduction will leave me with £18k . I want to know that i will not be hit for "another" 20% when i do my tax return as long as i stay under £40k earnings.

To pay corporation tax at 20% ( 19%) then pay 7.5% dividend is really paying 27.5% . However the dividend needs to paid to the other shareholder ( wife) who is on the higher tax bracket. so she would be paying 32.5% on top of the 20% CT was deducted which would make a massive tax bill.

Hopefully this clears up my question.

Rgds

peter... Read More

Peter Gulline

11:37 AM, 14th July 2015, About 6 years ago

Summer Budget 2015 - Landlords Reactions

If you dont need the cash out every month then purchase in a ltd Company . I did it in 2005 for 6 of my properties ....when people said it was not worth while . However I now have hardly any LTV and huge directors loan pot which I can take back tax free when I retire. I have always had the attitude of rather paying corp tax rather than a mortgage.

I still have 4 others which were too much CG to transfer.....so I plan to pay them off now.... Read More