Mitigation of Inheritance tax
An investment property does not qualify for a Business Property Relief, so is added at market value on death, and Inheritance tax will be payable thereon at full market value less any charges on the investment property such as mortgages.
When is it a Good time to Incorporate a Property Portfolio
Since George Osbourne announced in his 2015 Budget of restrictions in mortgage interest relief, landlords have been racing to incorporate their property portfolios, which got the thumps up from the courts following the Ramsey Case (2013). The case itself provided the main guidance and test as to whether the landlord would qualify for Incorporation Relief. Several years forward, and whether the landlord would qualify for incorporation relief has become very subjective.
Putting an investment property into trust for family members
Trusts are usually taxed very heavily. Nevertheless they are in some cases well placed to expedite a person’s wishes,
A presentation and Q&A on Property and Inheritance Tax Planning
On 21 Oct 2021 at 19:00 JMS Accounting will make a presentation on Inheritance Tax (IHT) Planning with special focus on Property.
What is a “Deed of variation” when it comes to a will and Inheritance tax?
A deed of variation – or DOV – is a legal document that allows the beneficiaries of an estate (e.g. children) to make changes to a will, in the name of the deceased, after their death.
What happens when the landlord dies before Incorporation is complete?
Many portfolio landlords have gone through the process of creating a partnership and incorporating their portfolio into an investment company. They will have substantially completed the incorporation by transferring the beneficial interest to their investment company, while the mortgages stay in their own name until such time that the it is appropriate the remortgage from […]