How to assign BTL rental income to Ltd?
A BTL is owned in 99:1 ratio, by a father and son. Both are higher income tax payers. They are looking to assign the BTL rental income to a Ltd.
1. How would they assign the rental income to the ltd?
2. The BTL has a mortgage, can this mortgage payments and all the relevant expenses be reimbursed to the payee from the ltd?
Thanks in advance for your help.
- simple one...capitalisation of legal fees on purchase of business 146 4
- CIC Company 521 7
- Have I dropped a major clanger? 1,337 21
- VAT online filing exemptions 282 4
- Has anyone read the implications of the Lisbon treaty? 867 18
- NALS Accountants Report 113 1
- Do I need to report this to SOCA 3,478 35
- Legal title not in the company name 286 10
- Dividend dates 571 10
- Sole properietor 193 4
- transitioning payroll 248 8
- dividend proposals 128 2
- How to reclaim VAT that was missed off previous invoices? 244 2
- Deduction from Salary 306 8
- PPR exemption - can it be due on a bigger area than 0.5 hectares? 208 2
- Can I take action against my accountant for incompetence? 2,743 60
- Child Tax Credits - date of cessation of qualifying young person 95 2
- VAT on sales net of CIS suffered 440 10
- ACCA Cert/Dip in IFRS 163 2
- 12 Pay Problems 258 3
- Property exchange - 8-year legal delay following fall-out 624
- Cancelled 364
- SAGE Payroll Data for Import to MS Dynamics AX 342
- Cancelled 312
- Have you staged yet for auto enrolment? 283
- Probiz 274
- Free-standing washing machine - unfurnished lettings 232
- VAT on non-profit making clubs (ECJ VS West Dorset Golf Club) 231
- Phishing emails purporting to be from CIPFA? 204
- Is this UK incapacity benefit taxable in UK or Jersey? 176