Avoiding second home Tax

theartfullodger

Dave210782 wrote: »

Avoiding second home Tax

Easy: Only own one home.


No charge for this advice.

AdrianC

MEM62 wrote: »

Accidental Landlord ... is not intended to imply that you became a landlord accidentally

Just pause and reflect on that for a moment.

Exodi

So much irony in one post... "gonna hold on to my property portfolio in case house prices go up for my kids" & "blasted rich people evading tax, how do they sleep at night?! Can you help me evade tax please?".

Your partner would still be eligible to claim the LISA bonus though (assuming she doesn't also accidentally own other properties.)

Also, regarding your comments on putting the house in someones name before you purchase another property, you seem to be blurring the lines between 'having ever owned a property' and 'currently own a property' for which the former is assessed on and checked against the land register. This is exactly to ensure people like you don't transfer ownership to off-shore shell companies the day before declaring you're a first time buyer!

MEM62

AdrianC wrote: »

Just pause and reflect on that for a moment.

I know. Oh the irony........... But that's what it is.

Crashy_Time

AdrianC wrote: »

I know why people use it. They're wrong, and in denial about their deliberate choice.

I'm quite surprised you seem to be supportive of that denial.

You don`t make a deliberate choice not to be able to sell a house? Fair enough, serious price drops will probably sell it, but most people are still in "Get what I paid" and "Can just rent it out" mode, and this has been hammered into them by thousands of hours of c*rap TV over more than a decade, you can`t blame them for that? My problem is with bankers and their pet politicians allowing a massive cheap credit bubble to develop, and then continuing to prop this bubble up when it is obviously dying to pop, and then having the cheek to start taxing property to death when they can`t give out house loans to everyone and their dog anymore.

AdrianC

Crashy_Time wrote: »

...this has been hammered into them by thousands of hours of c*rap TV over more than a decade, you can`t blame them for that?

Yes, I can(/will/do) blame the terminally credulous for believing daytime TV.

MovingForwards

Just a comment about putting the property into your mum's name. Where is she currently living? If a rental property and she is in receipt of benefits that will get messed up for her.