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  • Tax

    Landlord Shuffle Part II - Boris in the mix!

    I think most of us would welcome the news that Boris Johnson has announced increasing the 40% Threshold on Income tax

    I think it may be prudent to wait and see what happens next

    As members know, I have used the "shuffle" in the past and it has worked quite well

    So what are you going to do?

    *Moderator note:  See original Landlord Shuffle discussion >>> "Landlord Shuffle" - selling to your own co

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Hi.

    I would love for you to clarify what the "landlord shuffle" is please as I am new to the forum.

    Thank you

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    Jo Ryan

    Koru Property Strategies

    07887691666

    jo@korupropertystrategies.com

    If it is what I think it is, you and your spouse are tenants in common on any property you own - usually 50% each.

    If your spouse is in a lower tax bracket, you change the ownership to say 70% to him or her and 30% to yourself.

    When you do the tax return, you then allocate 70% of the income to your spouse and only 30% to yourself.  That way 70% of your income is subject to a lower tax rate.

    You could do any percentage that suits your particular tax situation.

    I'm not a tax expert so I'm happy to be corrected.


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    Thank you
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    Jo Ryan

    Koru Property Strategies

    07887691666

    jo@korupropertystrategies.com

    Its when I sell personalty owned BTL property in to a LTD Co 

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    Interesting. Did you incur SDLT on the sale? 
    Thanks
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    Jo Ryan

    Koru Property Strategies

    07887691666

    jo@korupropertystrategies.com

    Yes I paid all the costs

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    seeing as the next PM will be a hard left Marxist puppet having his strings pulled by Seamus Milne,  it's a bit academic trying to work out what the windbag Johnson would have done.

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    Give me Gove over BoJo Everytime 
    Despite the coke, at least he's got n brain.
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