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  • Tax

    Telegraph /Budget 2017 Predictions

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    Learn Change and Adapt ?????

    I am not sure he will want to upset Big Business

    But anything could happen  with this Govt.

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    Learn Change and Adapt ?????

    What this article omits to mention is that for most taxpayers by incorporating the tax cost when selling property is substantially higher than owning the property personally.

    Regards Nigel

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    you are 100% correct

    in a Company a Landlord will pay more Tax when the company pays a dividend

    or as a salary

    and also when Landlords are selling there own property the Govt is receiving CGT and Stamp Duty too

    Company's only work well If you don't want income and your investing profits in a pension

    or for succession after death

    Of course some of us would have a huge increase in income tax if we did not alter out plans for BTL investments


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    Learn Change and Adapt ?????


    Or when the company is small enough that the various allowances cover everything you wish to draw out. The 40k for a pension contribution being the largest such allowance.

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    " What this article omits to mention is that for most taxpayers by incorporating the tax cost when selling property is substantially higher than owning the property personally. "

    I guess you are making the presumption that the owners are pulling out the profits from selling a company and being taxed again - which is not always the case. It could be re-invested, pay down other BTLs and other ways i read about one landlord even loaning the money to themself.

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    _________________________________________________________________________


    The above post is not financial advice, its often me rambling - passing time on a coffee break.
    If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance.


    _________________________________________________________________________


    In my experience very few investors sell a property in a limited company and reinvest it.  Most want to take a big chunk out to pay for a luxury such as a trip of a lifetime.  As for loaning the money to yourself gives rise to a charge under the loans to Participators legislation in s455 and 464a Corporations Taxes Act 2010 as well as being taxed as a benefit in kind.  So I wouldn't recommend that as an option.

    Regards Nigel

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    I guess it all depends on the individual circumstances, approach and desire to minimise tax now or in the future

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    Simon Misiewicz | Business Development Manager

    Optimise Accountants

    Telephone: 0115 939 4606

    website: http://www.optimiseaccountants.co.uk


    Yes it does but all too often Tax Advisers fail to layout all the options, costs and most especially the downsides of the advice they are giving.

    Regards

    Nigel

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    Fair comment. We can all say that about any industry to be fair. I tis not the industry rather than the individual that gives advice in their respective profession.

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    Simon Misiewicz | Business Development Manager

    Optimise Accountants

    Telephone: 0115 939 4606

    website: http://www.optimiseaccountants.co.uk