New ways to minimise IHT kzbin.info/www/bejne/e2nQhmh3qMygh9k
@ryansmith96884 жыл бұрын
Optimise - UK Property Tax Specialists This link says that it is private. Thanks again for the advice you share.
@UK-Property-Tax-Accountants4 жыл бұрын
You are welcome 🙏
@Holdeenio4 жыл бұрын
Thanks Simon, this has provided much food for thought. Definitely far more useful content than other resources out there! 👍
@UK-Property-Tax-Accountants4 жыл бұрын
Thank you Samuel for the kind words I always feel it is a lot more beneficial for me and for the listener to make the content useful and practical
@steveinstamford2 жыл бұрын
Great content thanks
@UK-Property-Tax-Accountants2 жыл бұрын
Thank you 🙏 very welcome
@heatherchanning57062 жыл бұрын
Amazing IHT content. I learned so much. Just one thing. Is the growth share system only for minors or can it be for mature 30 something daughters. And finally should we not have been taught the rudiments of wills and tax in school instead of the weekly perfecting of the Victoria sandwich cake 🍰🤷🏼♀️
@UK-Property-Tax-Accountants2 жыл бұрын
I do like Victorian Sponge cake though 😂
@UK-Property-Tax-Accountants2 жыл бұрын
Growth shares may be used for any age
@waynenembhard19062 жыл бұрын
Very useful
@UK-Property-Tax-Accountants2 жыл бұрын
Thank you for your kind comments
@ug1166 Жыл бұрын
Will you estate not increase with debt you have increased - ie say you took extra cash by refinancing the property unless you can spend all the cash quicker !!
@UK-Property-Tax-Accountants Жыл бұрын
The spending is an important aspect of this strategy
@FashDabeshkhoyFash3 жыл бұрын
Great video! Are these changes you can make say, 10 years into a property business? or would you advise this sort of structure from day 1?
@UK-Property-Tax-Accountants3 жыл бұрын
It is always harder after the event to make significant changes. My belief most lose out by not restructuring when they could
@steveinstamford2 жыл бұрын
How about using a group structure, put the kids as share holders. The company still runs after your death and the kids are still owners of the company so the tax man can't get to it? Am I wrong?
@UK-Property-Tax-Accountants2 жыл бұрын
More to it but a tax structure is possible for sure. Please get tax advice before you do anything. The price of a tax consult is much less than the cost of getting it wrong, I have seen regrets by not speaking to someone. Retrospective tax planning does not exist sadly
@fardjan29284 жыл бұрын
Great content. How would you do this if you had a couple of properties outside of a Ltd company? I know one strategy you mentioned is Leveraging the mortgage again to release equity, reduce your IHT and investing that money in a pension. Could you also incorporate the property and rebase it. Then use the director loan to take some of that money out. What strategy would you use in this case? Thanks. I am not at that stage but planning ahead.
@UK-Property-Tax-Accountants4 жыл бұрын
Good points. I am not sure you will find the answers you want to a veritable and complex subject matter on a KZbin thread. You need to have many conversations with all sorts of professionals to make a longer term financial plan that works for you and the family
@fardjan29284 жыл бұрын
@@UK-Property-Tax-Accountants thank you for taking the time to respond. That's a good answer and true as it is very complex and definitely a tax specialist that only specialises in this area can recommend. Keep the videos coming, very informative.
@UK-Property-Tax-Accountants4 жыл бұрын
You are very welcome. Good luck to you 😀👍
@theodorenelson95093 жыл бұрын
Brilliant
@gary8676 Жыл бұрын
How do my sister and I limit IHT on an inheritance I’ve we have been left (possibly 6/7 00,000)
@UK-Property-Tax-Accountants Жыл бұрын
It is not possible to reduce inheritance tax that you have benefited from after the event. Inheritance tax planning has to be done before the death of the asset owner
@philwood70633 жыл бұрын
Great video Simon. Interested in growth shares but I thought a share needs an owner. So who owns the growth share? If me than sure an asset so IHT applicable? or is there a need for a trust of sorts to own it? Or is the child (mine are adults) owning the growth shares? If so, how would the asset value growth be protected from divorce (child) for example? thanks again.
@UK-Property-Tax-Accountants3 жыл бұрын
Hi Phil, when thinking about growth shares and putting those in place properly I would make sure that you get a specialist to discuss your specific situation. Please do be careful of reading forums such as KZbin or Facebook to get answers which may cost you in the future
@Des-qn2yc3 жыл бұрын
Hi Simon, what if there is a directors' loan to the Ltd company? If the directors die, then how would that be treated? Back to their estate and out of the Ltd?
@UK-Property-Tax-Accountants3 жыл бұрын
Depends on how the loan agreement and company articles have been written
@williammorgan62173 жыл бұрын
Could you capital raise off the company assets and invest the proceeds into say a farm as it would qualify for Agricultural Property Relief and would therefore be free of iht
@UK-Property-Tax-Accountants3 жыл бұрын
Farmland may not get full IHT relief, but, yes it would help to reduce the tax. Not sure how much income you could generate but worth considering for sure
@seanmallard31182 жыл бұрын
Would it be possible to refinance a property in my own name to avoid IHT or is this option for a limited co. When's the best time to call you Simon ?
@UK-Property-Tax-Accountants2 жыл бұрын
You can refinance mortgages in a company or in your own name to deuce IHT if you spend the cash
@UK-Property-Tax-Accountants2 жыл бұрын
You can book calls with us using the URL optimiseaccountantsltd.as.me/optimiseaccountantstaxconsultation
@UK-Property-Tax-Accountants2 жыл бұрын
Please use the code KZbin20 to get a 20% discount
@rosiaakhtar64153 жыл бұрын
The growth of freezer share Isit in a trust and will it not get challenged by hmr
@UK-Property-Tax-Accountants3 жыл бұрын
HMRC mate always challenge. However, if it is written into law then the chances of success is Nil.
@rosiaakhtar64153 жыл бұрын
Hi can I make a meeting just to get questions answered on a smart company for my brother please basically company is worth 0 due to liability and want to make a structure that can work. I have seen videos by property 118 also that have this structure but I can see from reviews you have a good reputation so ideally value your advice more.
@UK-Property-Tax-Accountants3 жыл бұрын
Hi Rosie’s The best way to get a tax consultation with us is to use the code KZbin25 to get a 25% discount You can book a session with us using the below URL optimiseaccountantsltd.as.me/optimiseaccountantstaxconsultation You only need a 30 minute tax consultation to talk history Warm regards
@Des-qn2yc3 жыл бұрын
Hi Simon, my accountant suggested to split into a, b and c shares. Give the most valuable shares to our kid by putting in place a Declaration of Trust. Is this something you have done? What are your thoughts?
@UK-Property-Tax-Accountants3 жыл бұрын
Sounds a sensible approach
@hakimvlogs65794 жыл бұрын
My question is what if you want to benefit yourself from the capital growth let’s say in 5-7 years (im still young 25) by doing this does it mean I can’t benefit from the B shares in 5-7 years if the property goes up by £40k ?
@hakimvlogs65794 жыл бұрын
Let’s say I want to sell a property in 5 years this won’t effect me from enjoying the profits will it?
@UK-Property-Tax-Accountants4 жыл бұрын
There will be an impact for sure if you use different share classes. It is with getting a tax consult to discuss the implication of whatever structure you use
@hakimvlogs65794 жыл бұрын
Optimise - UK Property Tax Specialists impact in what way would you mind expanding I’m the one suggesting this to my accountant as he never suggested this to me
@hakimvlogs65794 жыл бұрын
Let’s say i bought a property for 100k and gave away all future growth to the B class shares And in 5 years it went to 140k and I’m still alive Can I enjoy this 40k increase myself? Even though I’ve gave away to B class shares (but I don’t have any kids yet, and even if I did by then they’d be 4/5 years old only)
@UK-Property-Tax-Accountants4 жыл бұрын
It might be worth discussing this with them first and if you are not satisfied then consider moving Accountants but please do give them an opportunity to discuss your situation
@aranghanlingham43953 жыл бұрын
Thank-you for this great video. I am attempting to put in place a growth share structure but banks don’t seem to like shareholders under 18, have you run into this issue and and do you have any suggestions? Also is there any issue with giving the growth share differential dividend rights and simply not paying that dividend until they are of age? Thank-you very much!
@UK-Property-Tax-Accountants3 жыл бұрын
Many clients have the same issue where they use a mortgage. You can give a different share class and wait until they are free of enough to give the dividends.
@aranghanlingham43953 жыл бұрын
@@UK-Property-Tax-Accountants thanks for that, it is the business banking account I am struggling to get, any suggestion of banks that would accept minor shareholders? Thanks!
@UK-Property-Tax-Accountants3 жыл бұрын
Bank accounts it’s not the issue. The issue is around mortgages and loans from the banks, you really do need to get a mortgage broker to help you with this subject
@fazeelatshah30973 жыл бұрын
I got iht problem you may help me
@drmtube5 жыл бұрын
what age can child be given growth shares and is it easy to change growth shares to normal shares when child older
@UK-Property-Tax-Accountants5 жыл бұрын
Shares can be given but dividends cannot have earnings as it will be deemed to be in the hands of the parents
@drmtube5 жыл бұрын
Optimise Accountants Thanks can it be given at less than 13 years? As per the video- growth shares is only advisable for property company and not trade company as can roll over
@UK-Property-Tax-Accountants5 жыл бұрын
Sadly not as rules apply to trade and investments for earnings