Capital Gains, Asia, Thirty Thousand Pounds discussed on The Property Podcast

Automatic TRANSCRIPT

Can be prime with this new mortgage interest change is going to be about twenty thousand pounds but if you transfer the proposition emcee company you're gonna pay caps gains textile thirty thousand pounds you're gonna say well we not going to do that but there is a way around capital gains tax and it's quite interested is coating corporation relief essentially it gives it gets rid completely of capital gains tax now the one thing you've got to do you've got demonstrate to asia marcy that you are a property investment business not just one personal to people buying a bunch of property that may sound that the same thing but there is a big difference cooperation relief is only open to businesses not individual investors so if we can demonstrate that you are a property investment business news a few ways that we can do this then we can actually say we were going to climbing cooperation relief and gave it a capital gains tax now it is a very very gray area certainly the clients that we all work on to try and timing coopration relief we are essentially sort of selling the case reach him off say in some cases sometime this very very easy to prove in there is an but we with clients that we do we are assessing whether or not is worth guide for we are actually getting preclearance rates rossi which is great because basically we're all in the case and see if they agree with this if they agree with this they brilliant we get rid of capital gains tax altogether but if they don't agree with us whether with stuff than we've got this big capital gains tax bill which may then mean that said don't go for it so even if we can get round capital gains tax who still got one more hurdle and that is stamp duty now i said before setting a property trying to transfer the property is like selling their property so on the individual invest and you're gonna have a capital gain unless you get round it now for the limited company effectively barring the properties you'll.

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