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  • Tax

    Transfer BTL to children for university fees

    One of my son's (aged 18) starts university this year & the other aged 17 starts next year.

    I have 2 btl properties.

    What would be the most efficient way to use this income for their benefit?

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    We are in a similar situation & havent come across anything yet - all too costly in some way. All I would say is don't pay off their university fees early (see Martin Lewis explanation) - in short they might never pay off the whole debt before it is written off. Far better to gift them the £50k+ as a deposit in the future.

    We are just taking out HTB Isa's for them & putting in the max for now - virgin pays 2.25% & govt adds 25% to whatever you put in up to £3k. If you transfer the btl's to their names you will pay stamp duty, cgt & other costs & also they wont be able to claim any FTB deals in the future - plus the income might affect any loans/bursaries they would otherwise be eligible for.

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    I think the Long and the short There is no easy way


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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.

    Have you considered the option of transferring both the properties into an SPV and nominate  your sons as directors.That way they will be entitled to tax free allowance of 11,000 each every year plus based on their income few years later can apply for their own mortgages .

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