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richard_mac

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About richard_mac

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    West Yorkshire

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  1. Hi taxantics, thanks for your replay and as per David, excuse late reply due to damaged laptop. I will follow up your suggestions with my accountant to see what is possible. Sound guidance, so thank you very much. Kind regards, Richard
  2. Hi David, thanks for taking the time and for the good advice which I will follow! Excuse late reply, damaged my computer (doh more expense!) and not great using the phone whilst it was repaired! Kind regards, Richard
  3. Hi All, New to property investment and looking for advice around the working of a possible directors loan. I’ve set up an SPV and have my first property. I have read up on directors loans and it appears that if you only take £10,000 as a directors loan HMRC don’t have much interest in these loans (providing it is repaid on time). From what I have researched HMRC seem very keen on tracking you if the directors loan is greater than £10,000 but I am not sure if that is per company financial year or directors loan account at any specific time. I think that any directors loan needs to be pai
  4. Hi Toni, I can’t give direct experience. I would say test out the plan with at least one other tax advisor given it is your children’s inheritance, particularly if your children are under 18. That could help to show up any issues perhaps even if it costs a few hundred pounds. Also do you need them to loan you the full £150k? Why not have the children put 30% of your children’s money in a high growth stock market fund via ISA wrappers with a view of compounded growth over the long term. That will give them another tax free cash source in future years which, if it performs, they will thank yo
  5. Hi David, thanks for the pointer. I will try to look it up.
  6. Looking for recommendations of SASS Pension Administrators. Are any members using a SASS for their pension to have better control and link to our property journey? How did it go and are you happy with your SASS management? I’ve googled a few SASS providers and both their set up and their ongoing costs seem high e.g. when you buy a property using any funds you have in your SASS. Appreciate any responses back on this question.
  7. Does anyone have experience of how to approach calculating the offer price for a commercial unit. I have accidentally found a retail unit for sale, it is in a decent area of a small town that I often drive through. The town has 1-2 vacant shops at the moment. Due to Covid that is not a surprise, typically the area is always buzzing and no vacant units. I’ve never considered retail before, and no idea if in commercial the agents guide price is typically realistic or based on the optimistic over priced approach. Does one have any experience buying commercial? I’m thinking perhaps retai
  8. Hi Owen, just starting my property journey and I’ve accidentally spotted a high street unit that looks like a solid investment. I’d never considered commercial up to this point. How did you get on? I am particularly confused if I should over around the guide price or go in with a discounted offer. I would be using cash, as I think I don’t have any other option being so green to commercial property. Any advice from the group would be great, this seem very different from my months of BTL research!
  9. Appreciate this is an old thread, but as a Newbie that is approaching my first two BTL's I have all the same questions. To those a few years ahead of me including Dean, Rachel, Matt, Helen, Amustprop, Jules etc - how did all get on making your selections? How is the accountancy experience today, two years down the road? Feel free to DM your experience, as I appreciate that we all have specific requirements and so may not want to fully discuss over the forum. A big thank you to those in the thread who replied and listed options to research, I will check them to start with.
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