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  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've been listening to R&R for a couple of years now but first time on this forum. Hopefully I can get some help. I live in London in rented accommodation and have just bought my first property £65k) in Scotland through a limited company set up with a friend. I'm concerned that by purchasing this property I may now be impacted by the new stamp duty surcharge of 3% when it comes to buy a property for me to live in. Assuming this will be in London would mean that it would cost me a min of £10-15k in tax which would spoil the benefits of my limited company investment.
  3. Hi all, Whilst not new to the BTL scene, this year I purchased my first property inside SPV / Ltd Company and as I approach the final quarter of the company accounting year, it is about time to find an accountant to take on the new area of end of year filing activities!! I would like to consider myself pretty savvy in general numbers and tax game having filed my personal SA returns for many years but the company accounts games is a whole new story that I am looking for help with. I would be happy to do my own double entry bookkeeping and provide my chosen accountant with acc
  4. Hi fellow property guru's, Newbie here looking for some advice. I'm looking at setting up a SPV Ltd company to invest in some properties, initially I'm looking to flip a few and then build a BTL portfolio. My question is; If I purchase a property under a Ltd Co and personally do not own a property in my name (never have), then later purchase my first property in my own name to live in. Would I still be classed as a first time buyer and get the Stamp Duty (SDLT) Relief on my personal property? Eager to find an answer to this so I can begin my property journey... Thanks in
  5. Hello all. I want to understand the best way to setup a limited company/companies structure with my wife that will provide flexibility for structuring income in the future and legacy planning as well. In terms of IHT, I've heard about assigning freezer shares to children or a trust, but as these are very long term plans (don't currently have children) i want to have the flexibility to do this in the future but maybe not right away. I plan on buying and holding resi and commercial properties (potentially mixed use). However, i may down the line look at serviced accommodation whic
  6. Hi My wife and I are in the process of starting our portfolio with 2 BTL properties. I pay income tax at the basic rate and my has no income at the moment. Would it be better to own the properties in a limited company at this stage or keep them in our own names until we add more properties? Thanks WS
  7. Hi everyone, I am buying a property using a limited company. The limited company is set up but I need to open a bank account (this is a lender requirement). I am an expat and am the sole director of the company. Any advice on decent business accounts - low fees, online banking and most importantly available for an expat! As always, any advice gratefully received. Cheers, JJ
  8. Hello I would like to change the name on my property deeds from my individual name to my new company name (SVP.) I have spoken to my accountant about the tax related concerns which he is arranging (re capital gains etc.) The next step is to transfer the name of the deeds. I do not have a mortgage on the property. Can anyone recommend a lawyer who can do this for a reasonable fee ? Thanks
  9. Hi all, my partners and I are going in to the "flipping" and want to set up a limited company to do this, but I can't find if an SPV limited company is suitable for investors who want to flip/renovate properties to resell, rather than just buy to let. Do you have any ideas please gang? Many thanks in advance.
  10. Hi, I'm an IT contractor working through my own limited company. This company has surplus profits from which I would like to invest in property. I've been advised by my accountant to set-up a new LTD company to do this with. I've been advised that I can then loan money to the new property investment company from my existing limited company. Does anyone know whether I need to produce a formal loan agreement for this? My accountant has said no , but that doesn't feel right to me. Surely the particulars of the loan would need to be documented, even if I am owner of both companies?
  11. Hi good afternoon everyone, Name is Paul and I've been in property since 2011. I started by renting out and managing my property myself, becoming NLA accredited and have moved to a more passive strategy using a managing agent. I've enjoyed all aspects and have now built up 4 properties. I still manage one of them but as I live 300miles away the remainder are fully managed by a local letting agent. We are a married couple and my wife is no longer a 40% tax payer for the foreseeable future (actually her earnings will be less then 3k) but I will remain a higher rate tax payer.
  12. I’m a newbie here and have had one B2L for a few years under personal tax. I’m now moving it to a limited company and looking at mortgages. The B2L is worth £299k with a mortgage of £176k. I earn £51k pa. My IFA states the best limited company repayment mortgage rate is 3.19% for 2yrs or 3.64% for 5yrs. I’m not sure if this is high? Any help or advice would be appreciate.
  13. Thank you in advance for any advice or pointers to this grateful newbie. I have a few queries how I should take ownership of a property. The property was owned by my late father for 30+ years. The ground floor is a vacant commercial unit with the upper floors forming a maisonette currently occupied by tenants. I have submitted the paperwork to the Land Registry to transfer the property into my mother’s name as probate just been granted. My mother would like to gift the property to me: I need help to consider all the options. 1. I understand this can be held in my name or can
  14. Hi All, I am new to property investing and looking for some general advice early on in my property journey. My sister and I have £1 million in cash to invest and would most likely look to do this through using a limited company as a SPV. We both have limited time available to dedicate to property investing - I work long hours in a full time job and my sister is looking to set up her own non-property business. Ultimate personal goal: Ensure financial freedom, so I have enough passive rental income to quit my day job and and set up my own (non-property) business. General
  15. Hello, I would like to start building up my portfolio of rental properties in an SPV format. I am keen to start contacting mortgage advisers to look for the best limited company BTL mortgage rates. Does anyone recommend a good mortgage advisor with experience of helping a newbie get into the market ? Thanks Camilla
  16. Hi everyone, I'm looking at starting with investing in property and would be grateful for some advice. I'm hoping to build a (hopefully) decent revenue stream and generally to hold properties as long term assets. I'm a seafarer and so HMRC wipe off my tax each year under the Seafarer's Earning Deduction. This means I still have my £12.5k tax free allowance to use each year. I don't currently have a house of my own as I'm out of the country a lot either working or travelling and so stay with my parents. I also don't have any real need for a house at the moment but hope to ha
  17. Hi Property Hub Wondering if you could help me. I'm looking to buy a property with a limited company - I know you pay the 3% surcharge on stamp duty - but can you claim that back if the property sells within 3 years? As is the rule when purchasing as an individual. And could you point me in the direction of any resources on the subject? I'm struggling to find any definitive answer online. Thanks! Durian
  18. Hi, I own a limited company which is no longer being used. I want to take the money in this business and transfer it to a new company for property investment, and then close the original company. I have already paid corporation tax on the money in the original business. Is there additional tax to pay when I transfer it to the new company? Or can I just transfer all of it without being taxed? Thanks, Emily
  19. Up to now I have successfully self managed my property affairs without the need for an accountant. I now come to submit my first CT600 for my property company (for its first full year). I have come across the following obstacles on the HMRC web site after I logged on for my Property Co.: Unable to submit rental income more than £5200 per annum Property expenses cannot exceed the rental income My rental income in the first year is more than £5200 (good) but I also had a lot of expenses so I made a loss in that first year Please can anyone help with how I submit my
  20. Hi Guys!! I'm starting my property journey and will be buying my first buy to let in the next 6 months. I'm planning to have 2 properties by the end of 2020, and aquire 10 properties over the next 5 years (roughly 2 per year). However I need to speak to a good accountant before setting anything in motion. I'm based in London but will be buying my first properties in Manchester. As the Property Tax service is currently full, could you please recommend some good quality property accountants or point me towards some resources? Any advice from this fantastic community
  21. My partner and I (both 30 years old) have some savings and are looking to start investing in property for the long term cash flow to eventually replace our income. We currently own no property and are tenants ourselves. We want to skip buying our own house and get straight into investing. Q1) would we still benefit from First Time Buyer stamp duty deductions if we were to; A) buy to let? B ) buy through a limited company? Q2) I’m assuming we would need a first time buyer, first time landlord mortgage - can we get th
  22. Hi Folks, I would welcome any feedback on my current situation. I am looking to purchase a holiday let property in the UK through a limited company. Looking at Limited company mortgages in general, they typically offer somewhere in the range of 75%-80% LTV. To fund the remaining 20-25% I could remortgage my property. I was thinking that I could lend the money to the limited company and the income generated would help pay for remortgaging. Is this the typical way for company mortgages to be set up? What are the downsides to this arrangement? Are their better arrangements f
  23. Hello All! Over 2019, my partner and I have been educating ourselves about property and all the ins-and-outs of BTL. We have managed to save £30k, and now we need to take the leap of faith and actually start DOING some investment!! I'm the kind of person who has to have a clear plan of action, and I'm really struggling to nail down the process to purchasing our first BTL. After many discussions and considerations, we have decided that buying property as an SPV Ltd company will be the best option for us (both in terms of tax implications, and long-term goals). We would be so grat
  24. Hey guys! New to the forum, would be really greatful is someone could help me out as tax is a confusing issue even to the experienced landlords in here you can imagine how difficult it is to a newbie. My question is in regards to owning property in a ltd aswell as in my personal name. I currently earn a salary of 35k and have just purchased my first buy to let which will push me up to around 41k on paper, I’ve worked out I could buy another in my own name before reaching 40% tax threshold. my plan is to start a ltd company after this and buy any further properties through
  25. Buy to let Ltd company. I'd be really gratedul if any one could offer some advice as I've tried countless local accountants and cannot seem to find one to give me the exact answers I need. I'm at the beginnings of setting up a ltd (spv) company to hold my current main residence, which isn't mortgaged and wholly owned valued at around £150k. Once it's tenanted I want to release some equity/mortgage from the property and start purchasing buy to let's. I'm a higher rate tax payer and also buying a new property with my partner. I've worked out it would make more sense to use the lt
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