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Company Owned Residential Property
Purple_Power17
Posts: 1 Newbie
Hi, is there a way we could without selling the property transfer it to being privately owned by myself and my husband instead being owned by the Limited Company that my husband is the sole director/share holder of? The reason for asking is that we are preparing for retirement and do not know what to do with the property? TIA
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Comments
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The company would have to sell/transfer, not you .
You are not the company.
Suggest talking to accountant AND solicitor specialising in this area.
Random advice from free open forum may be helpful but I'd not rely on it solely....
Are you trying to minimise tax ? What sort of tax? There are more than 10 sorts of tax a landlord may have to pay.3 -
You can but why would you want to? The limited company’s disposal of the property will trigger a CGT liability for the company. Are you intending to live in the property yourselves, let it out, or sell it?Purple_Power17 said:Hi, is there a way we could without selling the property transfer it to being privately owned by myself and my husband instead being owned by the Limited Company that my husband is the sole director/share holder of? The reason for asking is that we are preparing for retirement and do not know what to do with the property? TIAIt might be wise to speak with a professional about your retirement plans to make sure you do things in the most tax efficient manner.3 -
holding the property in your personal name will not answer that question though - you will still not know what to do wtih the property, do you?Purple_Power17 said:The reason for asking is that we are preparing for retirement and do not know what to do with the property?
Therefore, what is the assumed / desired benefit of moving it into your personal name instead of the property company?1
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