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Should i buy house in Daughter's name?
Comments
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harrys_dad wrote: »Earn the money and pay the tax. Who do you think pays for all the services you use?
I think we probably do, the amount we pay.
Thanks anyway all - over and out.I wanna be in the room where it happens0 -
We are buying as pension security for the future
Have you thought of making additional pension contributions? http://www.hmrc.gov.uk/incometax/relief-pension.htm
http://www.hl.co.uk/pensions/interactive-calculators/tax-relief-calculator
http://www.pru.co.uk/content/schemes/teachersavc/england_wales/join/avc_benefits/0 -
I'd second the take professional advice.
Your proposal covers many different areas of consideration (financial, legal etc) so make sure you have someone you can trust to fall back on.
Personally, I'd do it and put the proceeds into a pension (or just pay more from my normal income into one) to avoid the higher tax. Problem solved and the money put aside for your retirement.Thinking critically since 1996....0 -
Prothet_of_Doom wrote: »Talk it over with a professional. I've given you one option, but it may have long term issues I've not thought about. :beer:
Changing what I wrote, but still leaving it as a quote from me, is unethical. Remove your post please.0 -
harrys_dad wrote: »Changing what I wrote, but still leaving it as a quote from me, is unethical. Remove your post please.
Changed it. It was a mistake. Sorry you are so offended, but hey, you are right.
Indeed we should all pay the tax we should pay, but you should have told him that in complex situations he might be better off consulting a professional.0 -
.
Also, thanks Prothet of doom for reminding me that the setting up a company was our other option
.
It's an absolute pleasure to have a think out of the box moment occasionally.
Pay the tax you should, but make sure you do it in the best way for you, so that you can live a happy retirement, without having to throw yourself on the mercy of the state.0 -
Hi
My OH and I are about to put an offer in for our 3rd BTL.
ethical?
Anyone have any advice?
Lol, the words "Buy to Let" and "Ethical" are a contradiction in terms
When so many FTB can't compete with BTL landlords but hey look after number 1 ..... Where the roll eyes smiley gone...0
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