Can landlord claim WTC?

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Comments

  • Afraid_of_Kittens
    Afraid_of_Kittens Posts: 342 Forumite
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    Yes they can - if they form a company - become a Director - pay themselves a Directors remuneration - and rent their properties out via their company.
    I enjoy flower arranging, kittens, devil worship, the study of serial killers and their methods and road kill jigsaws.
  • chipolatta
    chipolatta Posts: 46 Forumite
    First Anniversary First Post Combo Breaker
    Afraid_of_Kittens wrote: »
    Yes they can - if they form a company - become a Director - pay themselves a Directors remuneration - and rent their properties out via their company.

    Interesting...
  • NYM
    NYM Posts: 4,066 Forumite
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    Not so interesting because to transfer the property to a limited company you will trigger a sale and repurchase, incurring capital gains tax, stamp duty plus the surcharge plus legal, valuation and mortgage fees.
  • chipolatta
    chipolatta Posts: 46 Forumite
    First Anniversary First Post Combo Breaker
    NYM wrote: »
    Not so interesting because to transfer the property to a limited company you will trigger a sale and repurchase, incurring capital gains tax, stamp duty plus the surcharge plus legal, valuation and mortgage fees.

    Maybe AfraidOfKittens means to start an estate agent type company, which only manages properties and not own any, pays a wage which would satisfy the WTC criteria?
  • Comms69
    Comms69 Posts: 14,229 Forumite
    Name Dropper First Anniversary First Post
    chipolatta wrote: »
    Maybe AfraidOfKittens means to start an estate agent type company, which only manages properties and not own any, pays a wage which would satisfy the WTC criteria?



    But you would fail to pay yourself the minimum wage......


    Stop trying to fiddle the taxpayer, no-one appreciates it.
  • chipolatta
    chipolatta Posts: 46 Forumite
    First Anniversary First Post Combo Breaker
    Comms69 wrote: »
    But you would fail to pay yourself the minimum wage......


    Stop trying to fiddle the taxpayer, no-one appreciates it.

    No one is trying to fiddle anything Comms69, just asked if a landlord can claim WTC.
  • Comms69
    Comms69 Posts: 14,229 Forumite
    Name Dropper First Anniversary First Post
    chipolatta wrote: »
    No one is trying to fiddle anything Comms69, just asked if a landlord can claim WTC.



    Actually you were asking if you could set up a management company, to manage your own properties, so you could claim 25 hrs work, so you could claim WTC.


    I've pointed out a fundamental flaw in that.


    I'd suggest if you want WTC, you find a job / become self employed.
  • badmemory
    badmemory Posts: 7,720 Forumite
    First Anniversary Name Dropper First Post
    And isn't it Mrs chipolatta's flat anyway? So actually you don't have an asset.
  • chipolatta
    chipolatta Posts: 46 Forumite
    First Anniversary First Post Combo Breaker
    Thanks for the advice Comms69...
    Badmemory, yep, her flat. I don't think that affects any WTC though does it?
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
    chipolatta wrote: »
    Thanks for the advice Comms69...
    Badmemory, yep, her flat. I don't think that affects any WTC though does it?

    If you were to legitimately claim wtc then she would need to declare any profit she makes from her property as per her tax return.
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