UK Divorce & tax: Buy to let’s
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- Опубликовано: 11 сен 2024
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Buy to let considerations and tax when getting a divorce
Than you to Tim Bishop of Bishops Law: www.bishopslaw...
Website: www.optimiseaccountants.co.uk
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It is important that you understand all the essential elements of tax that affects your buy to let portfolio from SDLT, income tax, CGT and IHT. There are a number of videos, documents and tax calculators to help you save even more tax. Simon Misiewicz will be also live this Wednesday at 7pm to take your buy to let tax questions Register today and save tax tomorrow: buy-to-let-pro...
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#CGT #Divorce #BuyToLet
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Book a Finance & Tax consultation with Simon Misiewicz. Use the coupon code “RUclips25” to get the 25% discount
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In this video you will learn from Simon Misiewicz, your property tax specialist, of Optimise Accountants
▶ What happens to your buy to let property investments in the event of a Divorce?
▶ Are there ways of protecting your property investments before and during a divorce?
▶ How are properties split between a couple that is getting a divorce?
▶ How is Capital Gains Tax calculated when couples are getting a divorce and having to split the assets?
▶ Is there any Stamp Duty Land Tax costs when moving properties between the parties getting a divorce
▶ What is a prenuptial agreement and how can this help you to protect your assets?
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Book a Finance & Tax consultation with Simon Misiewicz, the co found of Optimise Accountants the property tax specialists. Use the coupon code “RUclips25” to get the 25% discount
Book your tax call now call: app.acuitysche...
The tax support will take the form of:
1.You book the Finance & Tax Director call and upload your questions with relevant documentation
2.Simon will spend up to 60 minutes to go through your situation and identify the very best solution
3.You and Simon will then spend the 60 minutes call to discuss which solution works for you best and to work out the practical application
4.Simon will leave the call and spend up to another 60 minutes to write up the notes and to do further research
5.Simon will provide additional 15 minutes email support to deal with any clarification questions that you may have
What I find incredible is that the divorce is 3 parts, the divorce nisei & absolute, Financial & family but at no part do the 3 parts talk of the court talk to each other. The only winner of divorce is your solicitor
Yes I would agree. It is important to try and resolve the situation between the parties. Sadly this if not often the case due to emotion. The emotion of people costs the money.
What if you have your own house before you marry. Then buy a family house live together. After divorce ofcourse the family house goes in the pot but Will the house before the marriage also goes in the pot?
It shouldn’t as the other party had no part in that wealth but this is why you get a prenup if you have assets.
It depends on what the judge seems fair
Sadly it will
Yes, property owned by either of the parties before they got married this does go into the pot that is available for distribution between the parties.
However there is no automatic expectation of a 50-50 split. That depends on numerous factors including the length of the marriage, whether there are any children and who has care of them and the respective parties earning capacity.
A prenuptial (or post nuptial) agreement can make a difference - but it’s not binding on courts, although increasingly, if the prenuptial agreements are properly negotiated and drafted, these legal agreements are beginning to become more important.
Tim Bishop They should be legally binding if one partner agreed to give a certain thing in the event of a divorce I bet the court would give them that item if the ex wanted it and the person who agreed to give it didn’t want too.
Wealth from outside the marriage should be completely sepperate in my opinion and wealth gained from being in the marriage shared the only exemption should be if one partner dies then there current spouse should get a share and the spouse shouldn’t get the whole thing but a smaller percentage then the deceased children.
What happens to a property where the husband is being simply a legal owner (trustee who draws no benefits of rents or capital on sale) with named beneficiaries?
Can such property be excluded from pot for split?
Someone that is a legal owner cannot take rental income from the property as they would become a beneficiary of the property. I’m not sure what you mean by property pot for split? Would you try and explain more for me please?
@@UK-Property-Tax-Accountants You misunderstood. This legal owner does not take rents, neither he has any gain upon sale of rental investment property. My questions: (i) under Trust laws, this kind of property does not belong to the husband. Correct or not. (ii) Therefore, should it be excluded from the asset pool in divorce.
You need legal support here to be honest. I am knowledgable in tax, which I can help but not law.
Hi Simon. Not related to this video, but I'd like to contact you via email regarding UK property CGT. I live in Australia so the phone consultation may take a bit of teeing up. I'd like to email you in the first instance to make sure you will be able to help. I couldn't find any email contact details on your site.
After a bit of digging around I sent an email to "info@". If there is a better way to reach you please let me know.
That’s the best email to be honest. My team will be able to pick it up for me
@@UK-Property-Tax-Accountants Great. I look forward to hearing from you.
@@UK-Property-Tax-Accountants Still no response from your team.
What if you got investment properties in the marriage in your own name would you have to sell off the properties and share the proseed with your parent?
I am so sorry but would you explain more for me?