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  1. Hi, wondering if anyone here can help me as I know there are lots of experience property people here! Bit of a long one but here goes....... I’m selling my large flat to buy a house. I have a plan in mind which is: to sell the flat to a property company that I own the company will need a mortgage to buy the flat the property company will then let out the flat at first, my wife and I will rent the flat from my company we will look for a house to buy once we find one we will move out and buy the house in our names then the flat will be let out
  2. Hi all, I am looking to remortgage a BTL to release some equity, the BTL is currently let to an company on government AASC contracts to house asylum seekers (previous known as COMPASS contract). The company dealt with all the day to day issues, maintaining the property and paying the rent. The lease usually lasts 5-10 years. Is it possible to get a mortgage, if so, what are their typical terms please - LTV/Interest rate etc.? Many thanks!
  3. Hi everyone, Would appreciate your expert advice please. I need to remortgage two properties. One which is held in my personal name and another which is held in my limited company. A factor in mortgage rates is if they have an upfront fee and how much it is. I'm looking to understand if mortgage upfront fees are tax deductible as an expense for: 1) BTL mortgages held in personal name 2) Limited company BTL mortgages Can anyone help with this? Additionally, would be great if you could also point me to the government literature / webpage which details the policy surrounding t
  4. Hi Experts, I just wanted to get an idea if I can claim the "Interest on loan" as an expenses while preparing annual accounts of the Company considering that the loan is taken in my personal name instead of Company's name. Thanks
  5. Evening all, I have set up a LTD co with myself as only director and shareholder at the moment as it was easy to do by myself and should satisfy everything from a Lenders perspective looking at my earnings etc. I have no properties purchased through this SPV yet but want to crack on soon. I have a wife and 2 infant children. I would like to eventually pass on on the wealth created to my children when I pass away so my questions are?: whats the best way to do this? can I set them up as shareholders at this early age or wait until they're older? Would it be a
  6. Hi Hubers, In the latest "TPP 324: Is buy-to-let dead?" Rob mentioned this in regards to tax changes: I would like to build my portfolio for the next 15 years from now and I would like to start tomorrow . Does it mean I should set up an LTD Company and keep buying properties via the company? If yes, then what is going to happen with all that income from these properties? Keep it on saving's account for the next 15 years ? I was thinking maybe I could employ my partner in the LTD company and she would take that income instead of me . What do you think? What are your ideas about
  7. Hi fellow hubbers, I'm currently reading 'Using a Property Company to Save Tax 17/18' and on page 195 it says: What are the cases where this isn't possible? My understanding of this is that I've taken out a bank loan, which I've then invested into my company as a director's loan, I am able to claim the interest relief when completing my Self-Assessment Tax Return? If this is the case, what boxes/parts of the SA Tax Return form would be completed to account for this?? Thanks for any help in advance!
  8. Happy new year, I hope you’re well. I have a hypothetical scenario based question and was wondering if you could help. Scenario: · I own a flat (~£550K – £600K) and my girlfriend owns a flat (~£325K. Both are mortgaged. She has now moved in with me and currently renting her flat out. · We have seen a property we would like to purchase together. We envisage funding the prospective purchase through equity release from the flat I own, the sale of her flat, the rest being made up of a mortgage and cash. · The intention is to keep the flat I own an
  9. Can someone help? First time post!! I am looking to buy off plan in Manchester. Apartment is on 19th floor. Will be buying through a Co and some shares in the Company will be owned by a trust. So far lenders are saying no to the trust. Finally found one that was comfortable with the trust but they said no to the high floor. Does anyone know of a broker/lender that would be comfortable with this kind of purchase/purchase vehicle?? Many thanks for any help in advance.
  10. Hi! Me and my associate would like to start a UK-based venture specialised in managing rentals (as well as sub-rentals) of properties in the Southern EU countries. We will have a first initial asset represented by a house that will be owned by this company in Croatia, which we will rent out as a start, additionally we would like to rent a few other properties in order to sub-rent them as targeted rentals for specific client demographics. In the future, when finances allow, we would like to invest in further properties in Croatia and other countries. Selling the properties we invest in now woul
  11. Hi All, Looking for some help on the freehold enfranchisement process specifically related to the management set up. Shortly a building with 4 flats (converted) will be taking the freehold enfranchisement route. All 4 landlords are happy to be involved. Nice and easy so far. As part of this we will need to set up a Ltd company to own the freehold and manage the building. This is where I have some questions. 1. The company will have 4 directors - does this in anyway link these people together outside of the company. 2. I understand after year 1
  12. Hi Everyone, I'm completely new to property and really hoping someone can give me some advice. Basically me and my sister are looking to go into property investment together, from the people we have spoken to they have said most people these days are setting themselves as a LTD company for Tax purposes. However no-one has given us any advice other than that and i'm wanting to know how i can work out if this is going to be the best route for us to go down. . . . Also someone has mentioned an SPV to me and that this is the better option than an LTD, Please can someone tell me which
  13. We applied for our first BTL mortgage through our Ltd Company last year and were not entirely surprised that it was insisted that the directors of the company were personal guarantors... But will this be the case forever? I have several questions: 1) Is this normal? 2) At what point will a lender lend to a Ltd Company without the requirement for guarantors? Do they start to take into account the portfolio? Capital in the bank? Previous BTLs? Thanks for taking the time to answer, Jordan
  14. Hi All, I need some advice on a possible way forward to build a property portfolio. To give you some background, there are four (4) family members who would be contributing the initial finance required in order to purchase properties with a mortgage. Two of the family members are based in Europe (and come to the UK on a regular basis) and the other two are based in the UK. The properties we are thinking of buying will all be in the UK. The advice we need is as follows. From a tax efficiency point of view, is it better for us to form a limited liability company or to
  15. Hello people, I'm looking for advice on whether I should open up a ltdc ompany. I have just had an offer accepted on a property which is why I am planning to open the Ltd company now so that I can purchase the property straight in to the company and avoid a double stamp duty by buying it in my own name, then selling it to the company once formed, which I believe the sale price must be at market value? My future plans are to expand my rental portfolio as much as possible aswell as possibly doing some flips. I also have one more property in my own name which I would like to put in the compa
  16. Hi all, First post, so go easy on me. I'm UK expat living in Munich with my German wife and seriously interested in starting the property investment journey back in the UK. I'm in the early stages educating myself through the excellent TPH & TPP resources, making connections, getting advice and already meeting early challenges. One such challenge is Expat BTL mortgages. I've had some helpful conversations so far with brokers and mortgage companies direct, but the initial issue seems that most will only offer Expat BTL on a min loan of between £100-150
  17. Hello All I am currently buying my first UK BTL property and I have decided to buy in a LTD company. I have a deadline to meet as the property is a new build so I need to know if I have time to set this up. I do already have another UK LTD company I use for work purposes, so I have an accountant etc in place. So the question is, in general from start to finish how long will it take to set up a new LTD company to buy the property with? (The mortgage offer is in place already, to buy through a LTD company - so its just the company side
  18. Hi fellow forumers, I'm wondering if anyone has experienced a similar set up in the past and can advise me of their thoughts. This is our first development of this type and although we have a good accountant they are not property specific so I'd be interested to hear some ideas. Here goes... We have a development company and are due to complete construction of a block containing 9 apartments next year. As part of the purchase deal, the seller is retaining 2 of the apartments effectively leaving us with 7 apartments. We may sell a couple of flats but at the momen
  19. Hello I'm currently in the process of buying a property via a ltd company. I'm being charged a floating fee and also £650 + VAT for a deeds of subordination? Has any one else had this issue? Can someone explain it in a clear way and what it means for me and my company? Thanks Howard
  20. Hi, Has anyone setup a limited company recently for the purpose of purchasing new BTL properties? For me the accountants I have spoken to have advise setting up an ltd to be more tax efficient but they have also advised checking with lenders on what their criteria would be in terms of how the company is structured etc. I've done some investigating with lenders too and so far have found out the following critieria would be needed: 1. No more than 4 directors. 2. Use one (or all) of SIC codes 68100, 68209, 68320, 68201 3. Personal garauntees to be
  21. I have recently become the joint freeholder of a block of 4 flats. The previous freeholder had been missing since 1989 and there was nothing in place to collect a service charge and to generally maintain the property. It has taken more than a year but we have now taken control of the freehold and now want to set up a management company to allow us to collect a service charge to pay for building insurance and to maintain the property. Can anyone advise on the setup of a management company for freeholders? I assume we just need to set up a limited company with the two of us as direct
  22. Hello all. I have a project with 3 stakeholders (property owner, builder & myself) and I need to structure a legally binding deal to ensure clarity or purpose and ensure everyone is paid. The project is to build an apartment on an existing property. The property owner already has planning permission but can't afford the build cost. I have a builder friend who will do the work and get paid either through refinancing or sale of an apartment (there are already 6 other apartments in this large block). Does anyone have any experience or advice for setting up this type of deal and/or using an SP
  23. MoneyWeek's anti-property articles came in handy this week, as Merryn has just blogged about something worth looking into if you're considering a limited company structure for your properties. Its called the Annual Tax on Enveloped Dwellings (ATED). From the GOV.UK article: From 1 April 2016 there will be a further band for properties valued between £500,000 and £1 million. This will have an annual charge of £3,500. I haven't heard or seen anything on this tax, but with Georgie Boy's dodgy antics, there's a risk this could be implemented at lower and lower price brackets.
  24. Hi, I am planning to flip a property in march this year, if successful I then plan on doing 1 or 2 more flips to raise some cash to then invest in buy to lets and HMO's. Is it best to flip properties through a Ltd company or as an individual? I am currently a lower rate tax payer. Many thanks!
  25. Hi, I just need some critical advice on switching my property (off plan) to my company's names. I have invested in an off-plan property in the UK that will be complete in 12 months’ time. The property is currently under my name; however, I’m planning to set up a company to benefit from tax laws. All properties within this company will be buy-to-let and I won’t be drawing any funds for personal use but for reinvesting. I’m just wondering is this the most optimum solution for me? I have spoken to my solicitor and she told me if I was to switch the ownership from my name to
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