Deed of trusts & buy to let mortgages - What are the tax implications?

[@UK-Property-Tax-Accountants]

Important - read this www.optimiseaccountants.co.uk/knwbase/deed-of-trust-on-property/ Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx Download our FREE Checklist www.optimiseaccountants.co.uk/property-ebook-and-check-list-download-thank-you/ Our live events www.optimiseaccountants.co.uk/tax-seminars/

[@Holdeenio]

An interesting point from the view of BTLs. What about the use cases for declarations of trust on primary residences? Can these be used to add stipulations to the ownership, define equity percentages if tenants in common?

[@UK-Property-Tax-Accountants]

I am sure that’s a good solicitor, will help you define what you are looking to achieve

[@AzmatKhan-gl8mx]

Hi Simon, I also have a second (buy to let) property, at the moment the mortgage on this property is on my name, if I add my wife’s name in the mortgage would there be any stamp duty to pay at 5% or 3%, the total mortgage on the property is £250k and we already jointly own our main residence 50% each.

[@Holdeenio]

I’m pretty sure transfers/gifts of equity between spouses is always tax exempt in the uk?

[@UK-Property-Tax-Accountants]

I believe you are referring to couples against Tex, which is excellent as you quite rightly pointed out. However, this video is talking about stamp duty, which is not exempt per the video.

[@Holdeenio]

@@UK-Property-Tax-Accountants 🙏🏼

[@UK-Property-Tax-Accountants]

@Holdeenio you are very welcome, any time. Have a very good rest of the weekend👍😎

[@GarryWebster]

Hi guys, slightly off topic but are you able to advise on other main types of trusts? its for estate planning mostly regarding IHT .Thanks

[@UK-Property-Tax-Accountants]

You are best to see a solicitor on this type of work to be fair. We can help from a tax perspective but not legal

[@GarryWebster]

@@UK-Property-Tax-Accountants thanks a lot, very honest, I might still get in touch for tax issues.

[@UK-Property-Tax-Accountants]

Thank you Garry most kind

[@GarryWebster]

@@UK-Property-Tax-Accountants Hi Simon? Just a heads up, your contact form isnt working on your website, (its not showing up at all) and i cant find the page with the monthly costs. Ill send you an email instead Thanks

[@UK-Property-Tax-Accountants]

Hi Garry. Thank you ever so much for the kind feedback about our contact form. It has now been addressed and fixed. Thank you ever so much 🙏

[@show2780]

Simon, interesting topic. We are looking at discretionary trust to ring-fence our portfolio from tax. Generally, Will this be a wise move?

[@UK-Property-Tax-Accountants]

Indeed it will be from an asset protection perspective

[@Holdeenio]

It depends which tax you’re trying to mitigate. Inheritance tax then yes, but then you will lose direct control and income.

[@UK-Property-Tax-Accountants]

That is very true. Some trusts do allow income generation but it normally an either / or tax strategy (income vs IHT)

[@show2780]

@@UK-Property-Tax-Accountants At what point is it advisable to set up a trust. From the beginning of property investing or after few properties?

[@UK-Property-Tax-Accountants]

Depends on your situation rather than the number of properties. There is not a straight answer