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Showing results for tags 'btl tax relief'.
Hello, I am a new investor and understand you can take £3k out of your limited company into your personal name / year tax free as a dividend. I have three questions relating to this. 1. really I would like to continue building money within the company to invest in further buy to let properties. Therefore is it possible to take the £3k from rent/ year and immediately re invest the money as back into the company so that you could take a tax free lump sum in the future as this would in effect be your company returning the money you lent it? Ie. The same as you can remove your initial deposit tax free 2. If there is another person with significant control who owns the other half of the company can they also take £3k as a tax free dividend and probably in a similar way? 3. What paperwork do you need to show to do this? Is it a letter from the director to the share holder to say the terms of the loan and so on? Thanks very much for any help that you can offer!
Hi All, I am new to Property Hub. I am about to purchase my first BTL property. I am a UK citizen however have been working outside the UK since 2014. I have read up quite a bit about Section 24 and other tax on landlords / BLT income etc. however have not been able to find anything that reflects my situation. I do not have any earnings in the UK or EU and therefore am not paying any income tax. I have also completed a P46 upon leaving the UK registering myself as no longer living in the UK. I want to know if I be liable for tax on my BTL earnings if they are in a personal name? Also what would the threshold be before I start paying tax and what are the triggers that lead to taxation for someone in my situation? Thanks in advance for any advice received.
Hi guys, wondering if you could help me out on something. I am looking into information about switching my consent to let over to a BTL mortgage and am wondering if its beneficial compared to staying on residential. Im pretty sure ill get continuous consent to let but may be on similar rates as BTL anyway. What I am wondering is; If the property will be fully liable to CGT - from original purchase price or current market value upon switching? Is there tax benefits having the mortgage on BTL? will lenders allow me to let my current property out on consent to let if I choose in the future? Thankyou guys Jacob