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About nibor

  • Rank
    Established member

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  • Location
  • Property investment interests
    An IT manager for work i privately rent out an ex local authority 2-bed flat in Haworth, a 2 bed starter home in Sandhurst and set up a Ltd company to manager two Student pods in Salford and Sunderland.

    Thee private twenties are paid off and
  • My skills
    Amateur level experience in Private Sector Leasing, private rental and student pods and personal finance. Know my way around Google sheets.

    So far relied on pretty good Google skills and an occasional accountant.
  • My goals
    pay off mortgage in personal residence.

    Decide value in shifting residential properties to Ltd company

    Decide to dump the student pods
  • Interests outside property
    Scuba, Lego, reading, archery, horse riding, Cinema, food.

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  1. >My question is, can my BTL ltd company re-mortgage the property, release equity from it, then use the raised funds to pay back director loan I have had mixed response to this and its all been subjective. I see no reason why re-mortaging for eqiuty release and using that to pay back a directors loan is against HMRC guidelines on directors loans. I can see a lender being cautions but its up to the mortgage broker to advice you if the lender is uncomfortable with messaging you give for the purpose of the loan. To be honest they can probably advice on HRMC as well. So
  2. I am looking to move to a EU country with my family and i am wondering what i will need to do with my uk registered BTL LTD. Over the next five years are likely to move to two countries, both have double taxation rules with the UK. Does anyone else run a BTL LTD from abroad and what do I need to watch out for? Some more details. My wife draws a small income form the property under the UK NI and Income tax threshold and is unlikely to work in the new country for a few years while we raise children. When she does work we will stop paying her an income. We don't t
  3. I have a property LTD managing 4 rental rentals and work may take me to Austria indefinitely. We will be renting out our home which will be done privately first but the intention is to move it to the LTD. Does anyone have advice or experience of being a non resident landlord? Some further info. The LTD is registered in the UK and I have no intention of changing that, both directors will be moving abroad, currently all profit from the LTD is paid as dividends, a salary of around £6k for one employee (my wife, who does not have any other income) and director pension contribut
  4. This is similar to what I wanted to do although in my case I wanted to pay off an existing residential mortgage. The transfer to the LTD will be considered a sale so CGT and SDLT will be due on it. If you lived in the property at any time then residential letting tax relief can potentially reduce CGT, in my case it nearly wiped it all out. I used an accountant to do my calculations to ensure HMRC would not come knocking. Not much I can see to avoid SDLT. If you sell your unencumbered property to the LTD then once CGT is calculated the rest of the money is free for you to do with as you
  5. You can remortgage your residential property and a personal BTL and then loan the LTD the money for the purpose of buying another BTL property, the amount you loan to the LTD would be a Directors Loan which you can use to withdraw profits year on year tax free as you pay no income tax on a loan and loan repayments are pre-corporate tax expense. I'm not sure what your strategy here is. You would have 2 personal mortgages and one LTD BTL mortgage, you would get some mortgage tax relief on the personal BTL mortgage but none on the residential mortgage and eventually your Directors Loan wil
  6. nibor


    For an accountant I used Rita4Rent for the last 6 years, they came with a referal from the RLA. Propery Hub has a tax advice service, I did not find the advice that useful as most of it was stuff i already know but they insisted on repeating during the session and the specialist advice I wanted turned out to be impractical. This was in the early days, I'm sure they have ironed out the issues now. Not sure what its called after the rebrand.
  7. the big if is if HMRC will treat an incorporated company as a person or consider it attempt at tax avoidance.
  8. Can confirm, have done this twice. My question would be what you want to do with the Directors loan? I have a substantial loan and am considering charging interest to keep the value in line with inflation. To do this is not easy, you have to pay tax on interest quarterly and fill in CT61 HMRC form every 3 months. Didn't do this for 2018/19 as the paperwork put me of, I will kick this off for 2019/20 though
  9. Not an expert but I have transferred an inherited property over to an LTD a number of years after the probate was resolved. My understanding is that you and the LTD are separate entities so you cannot pass your inheritance to the LTD, you have to sell the property to the LTD and ensure any IHT, SDLT and CGT is covered. Selling in this instance means the transfer of ownership by any mechanism. The executor will need to sort out the IHT before the property is handed over to you, if the property is at risk due to IHT then you will have to speak to the executor about a deal for the est
  10. Auction would probably sell st too much of a loss. It also makes me wonder if I have to sell through an agent, I assumed it’d harder to sell direct because of its restricted usage.
  11. Has anyone got any advice on selling student pods? I have 2 that I bought in 2013 and returns are steady but restricted so I'd like to move on with my other residential property. I only know one company that sells them on the secondary market but the fees are £3,000+VAT. I appreciate its a locked-in market but I wonder if there are any other agents in this space other than Yieldit?
  12. Yep, I paid SDLT when I moved residential BTL to my LTD. i looked, I could not see a way to avoid it. only thing you can do is ensure the property value is a little as possible but this may effect your LTV and interest rates.
  13. Interesting. I’ve erected a temporary fence already I feel more sorry for OL’s tenants I am surprised there is no legal precident set related to boundary disputes.
  14. I am the landlord of one house with new tenants, the neighbouring house is also rented out with tenants who've been there for a year or two. We happen to share the same letting agent which means I have two means of contact. I'll refer to the other landlord as OL. The fence between our two properties has fallen down into OL's garden and the OL is not responding to requests from his tenants or the letting agent to fix. I have looked at my title plans and there is no indication of fence ownership (T bars?). Facing the garden the fence right of my property and in OL's left but I u
  15. Thanks for the response. A commercial BTL mortgage is optional as I have paid off my residential mortgage. I would have only taken a BTL mortgage to: 1) cover the substantial SDLT and fees of around £35k to move the property. CGT would not be an issue 2) Provide funds for a deposit on our next residential home in 2-5 years If I just transferred my home to the LTD then I'd have to lend my company the funds to cover point 1 which I could do, at a stretch. That on top of the value of other properties I have transferred in means my LTD's Directors Loan is at leas
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