Tax efficient property ownership outside a Ltd company?

by Readers Question

10:58 AM, 4th December 2017
About 3 years ago

Tax efficient property ownership outside a Ltd company?

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Tax efficient property ownership outside a Ltd company?

I am keen to make use of my personal CGT allowances and maintain the flexibility of owning property outside a ltd company.

Is there a way for me to own the majority of a property, even though I am dependent on my wife’s salary to gain lending?

Many thanks

Richard

Editors note:

From our main Tax Planning tab >> https://www.property118.com/tax/

If you are married, the first level of tax planning to consider is a restructure of your income to optimise all available basic rate tax allowances with your spouse (currently £45,000 each) and then to purchase any further properties in a company. The tax changes to mortgage interest relief will only affect you if your total taxable income (including mortgage interest) exceeds £45,000 a year. The Chancellor of the Exchequer confirmed in the 2017 Spring Budget Statement that this figure will increase to £50,000 by the year 2020. Restructuring income between spouses is achieved by changing the percentage of beneficial ownership of your rental properties.”


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Comments

Simon Misiewicz

0:31 AM, 7th December 2017
About 3 years ago

I am curious as to the point of CGT annual allowance. Would you explain this. little more to help my understanding?

Mark Alexander

1:39 AM, 7th December 2017
About 3 years ago

Reply to the comment left by Simon Misiewicz at 07/12/2017 - 00:31
Hi Simon

I cannot see any reference to annual CGT allowance, hence I cannot understand you question. Are you able to make your question clearer please?

toona rama

12:24 PM, 9th December 2017
About 3 years ago

Reply to the comment left by Mark Alexander at 07/12/2017 - 01:39
Could Simon be referring to the first sentence of the readers question? "I am keen to make use of my personal CGT allowances"


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