Tax Planning for UK Property

19/12/2024 45 min Temporada 6 Episodio 186
Tax Planning for UK Property

Listen "Tax Planning for UK Property"

Episode Synopsis

#186When most people think about investing in property they focus on everything else except the one factor that should probably be considered first: Tax planning.Property tax specialist Neil Ryder of Property Tax 360 takes us through his Today, Tomorrow and Next week concept of tax planning.During the episode, we discuss:Personalized planning for unique family situationsTrade-offs between income tax and inheritance tax issuesUse of discretionary trustsImportance of keeping estate values under £2 millionUse of Form 17 for income distribution between spousesCreation of a property portfolio through a limited companyStrategies for tax-efficient income extractionIssues with Director’s Loans and InterestComplexities of Hybrid PortfoliosIncorporation and latent gains issuesChallenges of remortgaging and personal guarantees when bequeathing propertyunderstanding latent gainsPotential minimization through group structuresInvestment vs. Trading ConsiderationsClassification issues impacting business relief and inheritance taxPurpose of cash reserves in trading companiesThe importance of communication in succession planningCommunication and planning for efficient successionProbate process and limited company ownershipOwnership and deed of trust for property benefitsShareholding structures in limited companiesReturning to the UK and buying propertyImpact of Primary Residence on Inheritance TaxNil rate band considerationsUse of shares in a limited companyEstate implications of jointly owned property by a coupleInheritance tax concerns on "second death"Transferability of unused allowancesWe help time poor professionals get a good return on their money by investing with us. Schedule a callLeave an honest review of Expat Property StoryJoin our Mailing List to join our WhatsApp  group AND access our 37 Question Due Diligence Checklist AND our 23 Step Guide to Buying Property at Auction AND our Monthly NewsletterFollow Us on InstagramWhat's the one thing you’re struggling with in UK propertyDetails of where to meet Expat Property Investors (For FREE):Hong Kong: Pacific Coffee, 2/F, Central Building, Central (1st Saturday each month from 11:30 am)Dubai: Holiday Inn, Science Park (1st Wednesday each month from 7pm)Singapore: The Providore at VivoCity (1st Saturday each month  from 10:30 am)KeywordsProperty investment, financial decisions, incorporation, trusts, tax implications, inheritance tax, UK property, estate planning, nil rate band, residential nil rate band, joint property ownership, limited company, tax strategy, discretionary trusts, estate value, tax planning, income tax, capital gains tax, stamp duty land tax, podcast episodes, seasoned property investors, property portfolio, director's loan accounts, latent gains, self-assessment issues, HMRC audits, hybrid property holdings, remortgaging, personal guarantees, business relief, corporate structure.