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debbie franklin

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About debbie franklin

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  1. flipping generally subject to income tax and national insurance not capital gains tax
  2. yes so effectively as a basic rate payer you are effectively getting full tax relief for the interest as you get a tax deduction of 20%
  3. you could be tenants in common with your friend having 1% only?
  4. In a round about way yes, you have to charge interest on the directors loan to the company. You then have interest income and you offset the interest you pay on the personal mortgage against this.
  5. The interest you pay on that remortgage is deductible from your total income in full as qualifying interest.
  6. seems to only be kent reliance that insist on this
  7. yes unless form 17 is submitted the default of 50:50 applies so previous return should be corrected
  8. if you have a written agreement for her to receive more of the income and she actually does that is sufficient
  9. you need to submit a form 17 which can include several properties it cannot be backdated and you will need to split the profit equally before that deb
  10. Makes sense. You can claim full relief for interest on a loan to a close company.
  11. I can't see anything precluding a DOV in favour of a company. I asked a probate Solicitor and he didn't know! Any Solicitors on here know if it can be done from a legal point of view?
  12. Yes you can and in theory go back 7 years (although must be related to the letting business) you simply include them on your first tax return.
  13. You can claim the interest on both amounts against general income as qualifying interest on a loan to a close company.
  14. If you are replacing units with similar or nearest modern equivalent then it can be claimed as repairs.
  15. You could consider a % passing each year within the CGT allowance.