X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Tax

    Transferring property to Ltd Company

    Hi all, I currently have a property under my name and wanted to move it into a Ltd company before the tax changes take place in 2021. Is there anyone who I could get in touch with, who could offer me advice on the best way to carry out this move? Thank you

    0
    0

    (*Moderator note: Comment removed as member has not passed probation and therefore cannot share contact details*).

    0
    0

    (*Moderator note:  Comment removed as member not passed probation and therefore cannot share contact details*).

    0
    0

    First its not a Transfer

    You are selling your property to a Company which you are the shareholder

    all the costs of a normal sale Solicitor

    The Company will purchase the property and it will have all the costs on purchase

    I have just arranged the sale of a property into my Co

    Selling price

    £62500 

    Solicitors cost of sale £500

    Purchase fees

    Solicitor £1500

    Valution fee £370

    Arrangement fee Mortgage £1000

    Stamp Duty 3% £1875

    CGT Nil because I have not gone over the allowance of £11500

    So in round figs its cost me £5245.00

    CGT is the killer if you have made a gain so do the figs


    0
    0

    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.


    I have a similar priced property. Would you mind sharing the thought process behind the decision.   Cost Vs paying the tax.  And ROI affected.

    My interpretation of the figures suggest a sale would have been better option.

    . Was it unencumbered and very healthy rental cashflow. ?  Hence reason for keeping.

    The solicitor purchase fees, Val fees and stamp duty lenders fees represent a significant cost which would take a long time to recroup.

    1500, 300 + 1000 +

    0
    0

    Coming soon Investorsk8.com

    Wisdom - an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs. 

    The tax changes (S24) have already started this year, but are being phased in: 25% in 2017/18, 50% in 2018/19, 75% in 2018/20 and will be fully in effect in 2020/21.

    0
    0

    Our family has various HMO and are collectively consolidating into a Limited Company. As two of the younger sons have never owned a property nor have had any interest in any property would the directorship of a property owning company preclude them from the under 300k stamp duty concession should they buy a house for their own residence?

    0
    0

    If they are share holders they would also have to pay the additional 3%

    0
    0

    Hi Harsh,

    Our tax partner RITA would be delighted to assist you.  Click on the banner at the top of the thread for details. Smile

    0
    0

    [Image: 4995468760_6be86655d4_t.jpg]
    general operations director, site owner and moderator - propertytribes.com