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debbie franklin

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  1. 1. Even if you sell the property to your company at low value, the SDLT is due on the market value. 2. Replacing your main residence - the disposal does not have to be by was of sale it can be a gift. so you have to weigh up the saving on getting the 3% back on your home vs paying (with the 3% extra) on the transfer to the company.
  2. Currently based on the above no cgt as the gain would be covered by ppr and letting relief (the latter not available after 2020) but other reliefs may be if you moved back in when you returned?
  3. No, as long as the property was fit to be let and was not heavily discounted due to the state of it then any decorating or replacing like with like is allowable even before let.
  4. If you are flipping, income tax and national insurance would be in point rather than capital gains. All expenses mentioned above would be deductible from profit but tax rate would be higher.
  5. Hi Cannot help you with mortgages but there are no tax implications for inter company loans unless you charge interest which would be income for one and an expense for the other. Deb
  6. Could well be caught by the transfer of income streams anti avoidance, you need to take advice.
  7. Pretty much it unless you have losses you can use or if the property was owned by the company prior to 1 January 2018 Deb
  8. yes unless the property business ceased in the previous period
  9. There is no allowance but the company pays corporation tax on the gain currently 19% but will fall to 17%. There used to be indexation which would increase the cost by inflation but this is only available up to January 2017.
  10. All perfectly legitimate claim for repairs. You are only replacing like with like (or the nearest modern equivalent). Debbie
  11. Nothing missing, what you plan is perfectly acceptable and sensible.
  12. A company letting property will never be a trading company. However, I do not see why they would feel that this would limit the costs you can offset. Debbie
  13. I would not consider that reducing your interest so that the value of that interest is less than £40k to be seen as evading tax. It is a legal transactions and you could never force the recipient to give your share back.