Jump to content


Established Member
  • Content Count

  • Joined

  • Last visited

About kent614

  • Rank
    Established member

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. You could add political / social unrest. Maybe it seems very unlikely, but possible and does happen. I have a property in HK. The property value and rental demand has fallen after 6 months of protests. I didn't see it coming and it didn't seem likely before it happened. Completely out of expectation and out of my control
  2. I am curious, does the property have to be sold to the LTD ? Can it just be a Directors Loan ? or can it be a gift ?
  3. Couple of random considerations I thought of when reading this > What is your goal? Being a high rate tax payer, all incremental income will be taxed accordingly, be it rental from your property or dividend from your company > Does the property have potential for long term capital appreciation? If so, and that aligns with your goals, keep it and focus on the long term and any months profit is just a bonus.
  4. Can the LTD company losses be off set against capital gains to reduce the taxable profit?
  5. 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).
  6. 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,
  7. 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.
  8. I'm using Tide, and very please with them so far
  9. 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.
  10. 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.
  11. 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
  12. 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 ?
  13. Worthing was mentioned on the podcast. Thought it might of been you :p
  14. 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
  15. 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.