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Found 19 results

  1. Hi, Some advice would be greatly appreciated. My family & I are discussing estate planning between my Sibling & I. We have a fair piece of property that could be split up into two independent premises There is a HOUSE & a commercial premise. There is potential to modernize & we potentially have some capacity to put that modernization in Train. THE question, is there a real need to complicate things too much? Under the parameters of inheritance, the limit for two children (would suggest that we would be relatively safe from CGT on sale From what I understand the HOUS
  2. Hello all, I'm hopefully after some advice, expertise and experience around VAT registration for LTD Company. The way I understand it at present is: Rental is VAT exempt - so if we was VAT registered and our rent was say £500 pcm for a property we'd charge £500 with 0 VAT. We wouldn't need to charge £500 + VAT. IF we was VAT registered we would be able to claim the VAT back on all expenditure such as boilers, kitchens, bathrooms and tradesmen where applicable. Additional accounting expenses due to having to submit VAT returns. My concern is, i
  3. I've had a look on the .gov.uk website at setting up a limited company. I'm not sure if its better to get my accountant to set it up for me? Are there any obvious pitfalls people have come across? Are there things I might miss that could be a problem / cost me in later years? If doing it yourself do you just use the memorandum of association template they have on the site, and standard articles?
  4. 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 initi
  5. Hello, I am currently in the process of purchasing my first buy-to-let under a limited company and Paragon (the mortgage provider that I am using) have requested that I have a "Certificate of Confirmation of Advice" provided by an independent solicitor which will end up costing £600 in legal fees (two hours work). I have brought this unexpected cost up with my mortgage broker and he assures me that this is a standard procedure for every mortgage under a private limited company and will have to be done whenever I move lender or for any future purchases, although I have personally never heard o
  6. Hi, My mother has a mortgage free rental property worth 200k, that she would like to gift to me. I have a rental property worth 250k. My wife has a rental property worth 350k. Our income combined with the income from these properties fall within the basic tax rate. I plan to buy further investment properties in the future, therefore created a Ltd company seems the best way forward. (If only I’d started listening to The Property Podcast when we first started investing). Is it possible for my mother to gift this property to my Ltd company? Or sell it to the company for
  7. 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
  8. Good evening, I apologise for how long winded I feel this may be. I feel like I am all over the spot and would appreciate the type of professionals that I could use to achieve my goals (accountant with experience in property investing, tax adviser etc) and even better specific companies who would be recommended. Ok, so I am currently a director of a ltd company which includes me and my senior director based in the North West. We have had a good few years business and have managed to survive lockdown with a reasonable pot of money in the business account. We have decided to take
  9. Hi All, (Please bare with me as much a complete newbie). I am currently full time employed and intend to stay that way. However, I am looking to buy a house (first time). I’m lead to believe it’s possible to set up a Ltd Co. (reminder I’m fully employed). To then buy my property of myself - through my Ltd Co. 1. What are the first steps I need to take, or is it something that easily done once purchased? 2. How do I release the equity of what would be my residential property, into the LTD co, and use that as a deposit? I am lead to believe that would then allow
  10. Hi, First time on the forum. I have recently set up a limited company with a close friend to use as a SPV, which we have just bought our first property using. I understand the tax implications regarding an ltd, we will not take money out of the company at all, instead, just pay corporation tax and reinvest the money in the business. I own a residential property under my name which I live in and currently rent one of my spare rooms out for £550pcm, which is in line with the rent-a-room scheme guidelines. I am planning to move out of the house this year and into a rented flat with
  11. Hi, does anyone have any experience of "Multiple Dwelling relief (FA2003/Schedule 6B)"? I'm assessing whether or not to move the 6 BTL properties that myself and my brother jointly own in personal names into a Ltd Company. One of the major factors in my decision is the amount of SDLT i will need to pay by moving these 6. I have come across the Multiple Dwelling relief (FA2003/Schedule 6B) which states:- "Where 6 or more dwellings are purchased in a single transaction the purchaser can choose whether to apply the non-residential rates of SDLT.” The Ltd Company i set up would
  12. Hi all Apologies if this has been covered previously, I have searched for it but could find anything specific. I have two questions, as follows: 1) I am resident in Guernsey - still part of the UK - does anyone know if this would be a problem for me in trying to obtain financing for a Ltd Co from a UK provider? 2) Do I need to be a homeowner in order to obtain a BTL mortgage through a Ltd Co? My partner and I are saving for a deposit on a BTL and would like to purchase this before we think about buying our own place (we have our reasons, m
  13. Hello Hubbers! Hope you are all well... I was wondering if any readers would share their experiences of Deed of Guarantee signings required for their Limited Co BTL mortgages. I can’t find much reference to it in books or on this forum or the wider web, and professionals I’m dealing with such as Solicitors and Brokers are giving me contradictory opinions on it. Some are saying it’s unheard of and I should be able to negotiate out of them with the lenders, others act like everyone has to do it, so I’m fairly confused. I have a Limited company with my sister who is a small shareh
  14. Hi Everyone, This is my first post after listening to the podcast for a few years, and unsurprisingly it relates to SDLT. Myself and my wife use to own a London flat (main residence) before we were married, which we sold back in 2016. Since then we've been in rented accommodation. We're now looking into starting our property adventure but would like some advice on the following. Given we sold a primary residence and have not completed the purchase of a replacement main residence before the 26th November 2018, it looks to us we will need to pay the additional 3% SDLT if we buy an
  15. Hi, I am not sure if this is the place for this, but i'll try anyway. I am looking at making my first BTL investments and am trying to figure out the most tax efficient way of going about this from the get go. After some reading into the options of buying as an individual or as a Ltd Co I have come up this the following, would love it if someone could tell me if this is a sensible idea or if not suggest any alternatives: 2 people earning ~35k gross per year each (~15k below higher tax band) We would split investment ownership and rental income 50/50 Would the best option be t
  16. Hi, I have a ltd co, currently with 4 properties within. I also have a btl property in my own name which I am considering transferring to the ltd co. I understand that I will be liable for the 3% stamp duty and potentially cgt on any gains based on current ‘market value’. However I am unclear who determines market value (please don’t say the market:) ) and what evidence is required as proof, so I can calculate the tax due? Any help appreciated Regards Dougie
  17. Hi All, We are looking to buy our first property using our Ltd Co. that we have set up. We have found a property in need of refurb and we are looking to buy using bridging finance (we do have the cash to buy out right but prefer to use bridging), refurb and refinance later. We have gone to our usual solicitor who has worked for us on a few land and property deals before that have always been straight forward mortgages buying in our own names. However for the first time as a limited company their quote seems to have increased quite a bit (£1,500 +VAT + disbursements fo
  18. I have a couple of mortgage-free properties in a ltd company and hoped to get more with some gearing. The investments I currently favour are houses rented to a women's charity, housing families leaving domestic abuse refuges. Because they are all housing benefit and won't be on Assured Shorthold Tenancies, I think I'll be struggling to get finance. Personally, I can raise really cheap mortgage finance. Does anyone know of a way to 'dedicate' this to the company so the company can pay the capital and interest without creating a taxable interest income for me? I have hear
  19. Hi everyone, I'm Tristan from Beds, looking to take the plunge and invest in a BTL finally. Up until now I've admittedly been a bit of lurker, absorbing as much content as I can from the Hub, a big thanks to the Rob's for the podcasts, they've been a great help! I was hoping if someone might be able to provide a bit of advice on the best way forward for me, I am a first time buyer, currently employed. My father has already established a steady portfolio, including several flats recently bought within a limited company which I am also a director of, his portfolio also consist of several pr
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