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debbie franklin

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  1. Could well be caught by the transfer of income streams anti avoidance, you need to take advice.
  2. 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
  3. yes unless the property business ceased in the previous period
  4. 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.
  5. All perfectly legitimate claim for repairs. You are only replacing like with like (or the nearest modern equivalent). Debbie
  6. Nothing missing, what you plan is perfectly acceptable and sensible.
  7. 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
  8. 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.
  9. Sorry thought you only owned one property a BTL and that is joint with Mum?
  10. If you can reduce your interest in the property owned with Mum so that it has a value of less than £40,000 it is disregarded for the extra 3% SDLT however you will not get the first time buyer relief. The option of not being a purchaser (just a borrower) on the new property also works for both the extra 3% and the first time buyer relief. Debbie
  11. flipping would be trading so sa401 would then be appropriate
  12. agree form is badly designed and is old we would normally complete form sa1 instead for a partner in a purely property investment llp
  13. pretty sure rules are the same not at work so will check tomorrow
  14. if you do not currently own any property then the normal sdlt would apply not the extra 3% even if it was a btl