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About lr88

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  1. I would suggest that you look at HMRC form 17, just make sure you get your solicitor to fill it in correctly. https://www.gov.uk/government/publications/income-tax-declaration-of-beneficial-interests-in-joint-property-and-income-17
  2. Hi Dave, If you sell your houses to a limited company you will have to pay: 1) Capital gains on the difference between cost being purchase price plus improvements and the market price of the property 2) There is still 3% stamp duty on both properties However, it is worth noting that both you and your wife each have £12,300 capital gains allowances (example: Flat costed £100K - now worth £120K = Gain £10K each less Capital Gains Allowance means no tax to pay) I expect the reason you are looking at putting the properties into a limited company is to get full tax relief on mortgage interest, so could still be a good move in the long term. So depending on your personal situation it is an opportunity.
  3. I have just joined property hub and enjoy listening to the pod hubs. My wife and I are already buy to let landlords. Being based in the south property prices are high and trying to buy in today's market means that you cannot get the yield. A few years ago we purchased a property with a reversionary interest and we were fortunate enough to get the benefit, which we now rent out. Personally the investment made sense to us, with rental income it is difficult to get the balance between making a profit or making a loss to minimise tax and we were looking at renting as a revenue stream in the future when we stop working full time. As the property is purchased at a discount and the reversionary interest can be sold on, I am interested in the views and experiences of anyone else who has taken this route. Fortunately there is only a capital investment (The oldest known woman to live dying at 122, Calment signed a life estate contract on her apartment with notary public André-François Raffray, selling the property in exchange for a right of occupancy and a monthly revenue of 2,500 francs (€380) until her death. Raffray died in 1995, by which time Calment had received more than double the apartment's value from him, and his family had to continue making payments.).