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kent614

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  1. Can the LTD company losses be off set against capital gains to reduce the taxable profit?
  2. Good luck with all, and wish you the best. FYI, For the LTD, it is not really advisable to put your residential home in it (Tax complication).
  3. Hi, I am not really an accountant, so I am not fully up to date and you should check with someone in the know. My understanding is that : - You can use a Deed of Trust, which can make your wife a beneficiary of the property you own, and thereby utilizing her capital gains allowance. - But the effectiveness of doing so will also depend on if you fully own the property or if there is an outstanding mortgage. If there is an outstanding mortgage, you will need to contact your bank regarding the transfer - and not that stamp duty might be incurred. -If you are a higher tax band than your wife / your wife has unutilized tax allowance, looking at the wider situation, there could be benefits to transfer to the wife -If you both already own property, you will incurr additional stamp duty on further properties purchased,
  4. I was going to say possible overseas. I had tenants before pay large payments for several months in advance before, and they were from overseas and making use of their favourable exchange rates. Typically students There might be more individuals doing this now given the current currency exchange rates. Would of also explained why they were uncontactable.
  5. I'm using Tide, and very please with them so far
  6. Compare your current mortgage with the alternative available and also your longer term goals. In my situation, my mortgage % is very cheap, and I'm unlikely to get another mortgage of this rate in the future. With my personal goal of building my property portfolio, it seemed better to save the money for future deposits rather than pay down a cheap mortgage, and to refinance down the line at a higher rate.
  7. My calculations suggests if you are close to the threshold, likely to go over, then an LTD is worthwhile as income from the LTD would be taxed at corporate tax rate and not the higher tax rate. Good for building up assets in the LTD, and re investing But getting money out the LTD, beyond the dividend allowance will be taxed too.
  8. In considering an LTD, a useful question to ask might be are you a higher rate tax payer / foresees you being a higher rate tax payer (based on total income, salary plus property profit). If not, what is the benefit of having a Ltd in your circumstance
  9. A similar question, but slightly different scenario. As the business isn't in profit yet, no dividends can be paid. Is it possible for : 1. Me to draw a directors salary (which is minimal at 5k) from the directors loan account ? 2. Me to loan back my drawn salary, thereby increasing the directors loan ?
  10. Worthing was mentioned on the podcast. Thought it might of been you :p
  11. I currently have 3 things happening, I have a buy to let, but this was set up before I left UK. I have a mortgage on that property. I managed that myself through my network for the first few years and then subsequently passed that to an agent. I invested in a few life time tenancy arrangements, which worked out well for me and are long long term investments. I also have a partnership in another property, and that one is completely hands off. I don't invest for cash flow, but the plan is to switch strategy once I have built up the assets in the portfolio
  12. So Nigel, what is the long term objective here ? Is it capital growth, or cash flow, or somewhere to live when you return UK ? That is the starting point in defining what you will do. Financing and getting a mortgage could be difficult, but not impossible. Do you have any other assets back in UK ? i.e. current property which is being let out or anything ? Getting financed is often desirable as it offers leverage, and so better rates of return for your capital. Buying out right is possible, and can be done remotely - I have purchased a few properties without having physically visiting the place.
  13. Property House Planning Help - only if you're interested in self-build (I am slowly planning to build my own home) Progressive Property Podcast - little bit salesy, but interesting perspective sometimes Finance/News The Bottom Line - Evan Davis, new business topic discussed each week FT the Big Read - looks like they have stopped new episodes Goldman Sachs Exchanges - quite hard-core finance Private Equity Funcast (only dip into this, but if you are in PE, it is useful) Masters of Scale with Reid Hoffman - LinkedIn founder. Great advice for building businesses The Disruptive Entrepreneur - Rob Moore, who should be taken with a pinch of salt, but some decent topics The Economist Editor's picks - weekly summary of news. I have found it is much better than reading news daily! FT Start Up stories - basic stuff on starting businesses Freakonomics Radio - if you like geeky economics stuff Personal Finance FT Money Show Money Box (hit and miss) Money - more Rob Moore, some good stuff, some sales Economist - Money Talks General education TED Talks Daily - really interesting short talks taken from TED conferences. Often very inspiring 50 Things that made the modern economy Entrepreneurial Thought Leaders - US lectures Tropical MBA - hit and miss, very American, occasionally interesting The Side Hustle Show (ditto) The Inquiry - BBC current affairs More or Less: Behind the Statistics - looking at the numbers behind the news.
  14. Good to start young !! I wish I knew at 23 years old, what I know now. But learning and discovery is part of the journey that makes it interesting and keeps you growing. My tips for you would be : - Do not stop learning. Both in your professional work career, and your property investing life. Learners are earners, so keep learning. In my early years, I didn't really see property to be an exit strategy from working life. So I dedicated to my career, grew myself professional, and the better I got at work, the more I earned, and that income funded the properties. I enjoy my work, and intend to continue to work, and the knowledge of if one day I lose the passion here - I can walk away. - Network. Professionally at work, and in your property life. As well as helping to learn faster, it can also open doors and open your eyes. Many times the smallest comment from wise people in my network have set me in motion to achieve big things. - Take Action. The biggest ideas, the best plan, the most complete strategy all count for nothing without execution. At some stage, to achieve anything, you will have to do something. An average plan well executed is better than the best plan only on paper. Approach your property adventure as a business - be professional about it and do it well. Hence my tips are for both your professional career and property investing life.
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