Forums
New posts
Forum list
Search forums
What's new
New posts
New resources
Latest activity
Trending Threads
Resources
Latest reviews
Search resources
FarmTV
Farm Compare
Search
Tokens/Searches
Calendar
Upcoming Events
Members
Registered members
Current visitors
New Resources
New posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Forum list
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More options
Contact us
Close Menu
Forums
Farm Business
Agricultural Matters
Pension or property
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Rowland" data-source="post: 8143491" data-attributes="member: 79664"><p>Anyone using property to start a Ltd company and use for tax advantages will need a decent sized portfolio. I tried this route a few years back but accountants looked into it,it wasn’t going to work and HMRC wouldn’t like it. Things might be different now . </p><p>Capital gains tax is on the difference between purchase price and what ever improvements/repairs . House bought for 100k plus purchase cost 3k plus new kitchen bathroom decorations carpets etc 27k total 130k </p><p>Sell 200 - gain obviously 70k , @12k allowance per owner husband and wife 24k</p><p>Do a dead transfer and include other family members say 2 sons that’s 48k of allowance </p><p>Making a total taxable gain of 22k </p><p>At the higher rate of 28% it’s about £4800 total tax to pay. </p><p>I’ve done this in the past ! Not all Solicitors will do it . Use to be legal 6 years ago not sure now can see why you cant still try it . </p><p>Tax avoidance.</p></blockquote><p></p>
[QUOTE="Rowland, post: 8143491, member: 79664"] Anyone using property to start a Ltd company and use for tax advantages will need a decent sized portfolio. I tried this route a few years back but accountants looked into it,it wasn’t going to work and HMRC wouldn’t like it. Things might be different now . Capital gains tax is on the difference between purchase price and what ever improvements/repairs . House bought for 100k plus purchase cost 3k plus new kitchen bathroom decorations carpets etc 27k total 130k Sell 200 - gain obviously 70k , @12k allowance per owner husband and wife 24k Do a dead transfer and include other family members say 2 sons that’s 48k of allowance Making a total taxable gain of 22k At the higher rate of 28% it’s about £4800 total tax to pay. I’ve done this in the past ! Not all Solicitors will do it . Use to be legal 6 years ago not sure now can see why you cant still try it . Tax avoidance. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Farm Business
Agricultural Matters
Pension or property
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top