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tax benefits

3 replies

batuo · 20/09/2017 00:51

My daughter is a sole trader and the landlord offered her to purchase the commercial property. She is currently renting the property. We are pensioners and for tax purposes, for us and my daughter's income, we need someone with accountancy knowledge, the best way for the family to 'avoid' paying the taxman. The property is to be in my wife's name as her pension is below the minimum sum for tax purposes. Is it better to loan the money to buy it? Or we purchase the property in our name and rent it to our daughter with documents for tax purposes? The issue of inheritance tax is below the threshold. We want the best for her before and after the 'Maker' decides to turn us back to ash. All we as parents, want is to stop 'Jupiter' (taxman) burning our money. www.mumsnet.com/emo/te/2.gif.pagespeed.ce.pqlGYGVWqX.gif but www.mumsnet.com/emo/te/11.gif.pagespeed.ce.w3SwuqwArR.gif

OP posts:
Nettletheelf · 20/09/2017 00:57

He's called Hector, not Jupiter.

MsMarple · 20/09/2017 01:05

At the risk of stating the obvious, its probably better to consult a real life accountant, or chartered tax advisor who can work it out for you based on your particular circumstances.

Out2pasture · 20/09/2017 01:47

to outwit hector you will need a proper tax advisor.
her majesties revenue men will not looking at mumsnet for interpretation of the rules.

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