- Saturday, February 4, 2012 - 04:34
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Property Income
Trees and PIPs
A transfer of a partnership interest is subject to stamp duty land tax if it is to a ‘property investment partnership’ (PIP)
5 Jul 2011
Spousal split
A husband and wife own a portfolio of residential properties that are let. To mitigate higher-rate income tax liability the husband wishes to transfer his share to his wife, while retaining the mortgage share to avoid stamp duty land tax
24 May 2011
Refunds on holiday homes extended to NI
Position aligned with income tax for property bought via limited company
20 Apr 2011
Rent division
Since moving in together, an unmarried couple have let out one of their properties. They have also recently purchased a jointly-owned property for letting
12 Apr 2011
Let’s repair
Clarification is requested on the allowability of repair expenditure shortly after a property is purchased. Is this allowable revenue expenditure or must it be treated as a capital expense?
29 Mar 2011
Difficult dwellings
A mother has converted the double garage of her house into living accommodation, which is used by her daughter. The two of them own the whole property jointly
16 Feb 2011
Art nouveau
A client is considering the purchase of a new property for use as an art gallery
9 Feb 2011
Direct let
A sole director leases a restaurant, but the trade is carried on by his limited company, which also paid the rent. The landlord has started to charge VAT on the rental payments
2 Feb 2011
Down the pub
A public house is acquired by three owners who charge a peppercorn rent to the two of them who operate the pub business in partnership. Subsequently, the right to any future profit from sale is assigned to one of the owners who also takes on the trade
26 Jan 2011
Tied up in trust
Before her death, a mother transferred a share of her private residence to her daughter who was living with her. Substantial expenses have been incurred relating to a long-term lodger who also lived there
26 Jan 2011
Buy to PET
A client in his mid-60s has an investment property portfolio which is subject to mortgages. He is considering the transfer of properties, but not mortgages, to his children
12 Jan 2011
Currency gains
Is a gain on foreign currency made when funds are transferred abroad for extending and maintaining a property a chargeable gain?
26 Oct 2010
