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Found 8 results

  1. Hi all, Any nuggets of wisdom greatly appreciated! I'm due to file first accounts soon at Companies House on new Ltd Company set up for purchase of an off plan property that has experienced years of delay. I intend to use the deposit as a director loan. 10% was put down on exchange in Aug 2018, balance due on completion, estimated May 2021 Question is around how to record that as a loan: On purchase? On accounts now, dated to exchange? Also, as since company set up end 2018, there's been no other transactions, can I file dormant company accounts? Thanks in advance,
  2. Hi all, I have recently established a limited company and about to buy some BTL properties under this company. I have transferred some monies from my personal bank account into the company bank account. These monies are considered as Directors loans (from me to the company). my solicitor asked me to provide a directors loan agreement document and the board meeting minutes showing that the loan is accepted by the company. as I do not have an accountant right now, I will need to prepare them my self. Is there anyone who can help me find some templates for these please?
  3. I will give a short summary and eager to hear your thoughts about how to be smart about how to fund my company. I am a Swedish citizen (living in Sweden) setting up my UK LTD and have understood that expeses can be deductible even if the occured prior to the launch of my company. BUT if I have had eligable and deductible expeses of 1000 pounds (personal and taxed money), that 1000 can only be deducted against revenues to reduce my corporation tax. Which means I "save" 19% (190 pounds). Still that 190 pounds will have to be taxed (personal income or similar based on our Swedish rules)
  4. Hello All, I'm very excited to be here after having discovered the Property Podcast a month ago - since then I’ve been hooked! So thank you very much to Rob and Rob for the education and entertainment. Hopefully you guys can help me get off on the correct path: My goal: to build a portfolio of professional lets over the next 20 years that will generate a net income of £3k a month (plus inflation) My situation: - I own and live in a house in Cambridgeshire - Luckily I have just a touch over £100k in equity that I could currently rele
  5. Hi everyone - can anyone advise on the tax implications of this scenario: I have equity in my main residence which I'd like to remortgage and lend the finance to an SPV ltd company to buy BTL flats. I'm a higher rate tax payer so buying in a ltd co. definitely makes more sense for me. I know if I bought the BTLs in my personal name then I could deduct part of the interest payments prior to tax. Is there any tax efficient way to claim interest relief if the mortgage is taken out personally but used to buy properties within a limited company? If I charge my company intere
  6. I’m transferring a personal BTL to a LTD company, there is no mortgage so the full value of the property, £240k based on a Zoopla desktop valuation, will be added to the company accounts as a directors loan which means I can draw down tax free in future years. i strongly feel my property is over valued by £20-40k and am wondering if it’s worth getting proper evaluations based on the actual state of the property. i question this because although I could save as much as £2k in SDLT by reducing the property value I also wipe around £40k off of potential long term tax-
  7. Hi all, I am about to set up my Limited Company and had a number of specific questions that I was hoping folks could help me with as I know lots of you have already done this. Any advice would be extremely appreciated: Is there a difference between a Limited Company and an SPV? I am planning to create a company purely as a means of buying and holding rental properties, with no other business anticipated. However, I have heard reference to both Limited Company and SPV and just wanted to check if these are essentially the same thing for the purposes of setting up
  8. Hi Following the summer budget bombshell, like a lot of people I’m now considering buying my next investment property through a limited company using a mortgage. I've been trying to pick my way through the pros and cons for me personally, especially the tax implications which is of course why I'd be doing it in the first place! I’m going to speak to an accountant in due course (never used one before) but it would be really good to know if I’m generally on the right track before I do. To this end I have a question about the most tax efficient way to put the company in funds for the dep
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