Women in Property – the questions?

21st April 2021 | Uncategorised

Last night, Jigna Shah presented to a group of leading business women to take them through how to maximise the benefits of a property portfolio by incorporating. Excellently attended, Jigna was able to help the group with their planning, resulting in a number of questions from the group.

  • Can you remove the personal guarantee after 2 years once the Ltd is well established and make profit?
  • At what age can a person become part of a Ltd Company?
  • Before I decide to sell the property, will I have to make sure that I am a lower tax payer?
  • Why do I have to be in an LLP for 18 months?
  • What is the process of transferring the properties from individual name to LLP?
  • Do personal or corporate mortgage rates apply to the LLP?
  • If you have a partnership that is VAT registered then form a Ltd Co too, do the 2 structures need 2 separate VAT registrations?
  • Can you have an LLP structure – whereby you have an individual and a company (of which the same individual is a company director)?
  • What are the tax implications of gifting shares in an LLP?
  • Would corporate mortgage rates apply to the LLP and would you have to transfer all mortgage products at the time of transfer thereby incurring possible ERCs?
  • If you gift shares to children in the property business, will this affect their right to buy property later as a first time buyer?

These are some of the questions asked during the presentation but, as every individual has different circumstances, their requirements will be unique so if you want to know more about how placing your properties in an LLP can benefit you, please contact us.