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debbie franklin

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About debbie franklin

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    Property Tax Specialist

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  1. sorry only just seen it you could do a bare trust which is straight forward she would not ever be a first time buyer in future though for stamp duty
  2. no you would have to stop holiday letting some eg put on ast still vatable if let as holiday accommodation even if you don't meet the fhl criteria
  3. yes correct in general doesn't apply if you are a landlord paying for labour
  4. yes common misconception the company in effect becomes a contractor for payments it makes but a subcontractor to you quite confusing and very costly if you get it wrong if you should have deducted tax they can pursue you for it
  5. all residential for sdlt but you can treat as commercial if more than 6 dwellings or claim multiple dwelling relief as residential which ever is best sale should be exempt so no vat but you will need to register from day one as you inherit the vendors turnover history generally
  6. As far as the accounts go it would be shown at nil cost and then be revalued. For CGT suspect not a bargain at arms length so the company's tax base cost would be market value. For the stamp duty, can you confirm the relationship with the family member transferring please? Debbie
  7. Ah this refers to the transfer of income only not the beneficial interest under a DOT.
  8. Loss of letting exemption still in consultation stage.
  9. As regards divorce, you would need to do it before buying the house to avoid the SDLT!
  10. if you pay a limited company for labour you need to operate cis on that company
  11. Yes if you pay for self employed labour you are a contractor and must operate CIS.
  12. Can you point to the manual reference please? Ta
  13. If your business involved buying and flipping probate properties you could avoid SDLT altogether!
  14. You can't really charge yourself unless you do the work for yourself via a Limited company
  15. most expenses that can be claimed by a company can be claimed personally not possible to provide an exhaustive list but google hmrc property income manual for advice on the main ones
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