I just established a Ltd company (2 months ago) and purchased a property on it (2 weeks ago) -cash purchase with no mortgage, but now regret that I did not buy the property on my personal name. This regret is purely being naive in advantages and disadvantages of owning Ltd company. How can I now get the property on my personal name and close Ltd company? Thank you for your feedback
Sadly it’s not super easy to do. You effectively need to sell it to yourself which can have other implications that are hard to expand on in a comment here, but could include capital gains and stamp duty.
Thank you for this. I've been studying counselling for a bit now and could really could with some funding so I can get some help in getting some work started. The money would be for a laptop,space to rent etc could I get help with this thanks George
What if I want to protect my business name and then also trademark it? Can I still setup as a sole trader? I understand I need to register with company's house to protect the name etc
Sadly registering a ltd doesn’t protect your business name, it just stops another registering a ltd of that name. Trademark would probably be better, if you are able to monitor and enforce on people using your name.
Just started bay property I have two properties am bay anther one how I put in limited company avid tax I don’t pay so much taxes please help am ur subscriber
A lot of the time if you already own people don’t often transfer them, due to potential stamp duty and capital gains issues. It’s not something we could answer in a comment very well I’m afraid.
I just established a Ltd company (2 months ago) and purchased a property on it (2 weeks ago) -cash purchase with no mortgage, but now regret that I did not buy the property on my personal name. This regret is purely being naive in advantages and disadvantages of owning Ltd company. How can I now get the property on my personal name and close Ltd company? Thank you for your feedback
Sadly it’s not super easy to do. You effectively need to sell it to yourself which can have other implications that are hard to expand on in a comment here, but could include capital gains and stamp duty.
Dude your mortgage is tax free because it's through a ltd...
Thank you for this. I've been studying counselling for a bit now and could really could with some funding so I can get some help in getting some work started. The money would be for a laptop,space to rent etc could I get help with this thanks George
Good luck!
Where’s your video regarding the UK holding company? This would be beneficial to put the trading business and the SPV Business under one umbrella?
Coming out Sunday!
What if I want to protect my business name and then also trademark it? Can I still setup as a sole trader? I understand I need to register with company's house to protect the name etc
Sadly registering a ltd doesn’t protect your business name, it just stops another registering a ltd of that name.
Trademark would probably be better, if you are able to monitor and enforce on people using your name.
Just started bay property I have two properties am bay anther one how I put in limited company avid tax I don’t pay so much taxes please help am ur subscriber
A lot of the time if you already own people don’t often transfer them, due to potential stamp duty and capital gains issues.
It’s not something we could answer in a comment very well I’m afraid.