Seeking some initial advice
Dear Property118
I am looking for some initial advice as I want to help my mother with her property held in a limited company. Since my father went into care she now manages the company which holds two rental flats. There are mortgages on both. My brother are also Directors of the company. My brother lives in one of the company-owned flats…
How best to deal with this going forward so he can stay in the flat and our mother can pass on the company assets to us both jointly?
As I say it’s an initial question so pointers at this stage is appreciated. Obviously I’m willing to pay for advice going forward as needed and not looking for freebies.
Best regards
Robert
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Member Since June 2015 - Comments: 201
6:19 PM, 12th May 2023, About 3 years ago
Sorry to add another potential problem but if your brother living in one of the flats is not paying a full market rent there could be substantial benefits in kind to be taxed.