TAX PLANNING WITH CHILDREN UNDER 18

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cherienwal
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Hi, My husband and I have a portfolio of over 20 properties which we have purchased in the past 6 years. We have 2 children who are 10 and 12. We do not have the properties in a company and are all on personal joint mortgages. As with many Landlords, we set out with one as a pension pot and fell into the property game learning fast on an uphill curve.- Love it and wouldn't have it any other way now. The one area that we had not looked into was tax planning for leaving the properties to our children for them to continue on with if we pop our clogs or take a seat further back in time to come. We have read the tax café books on inheritance tax, capital gains, using a company and to be honest I think we have bamboozeled ourselves. The mortgage company will not allow a transfer into a company and are not prepared to let a company purchase from us as it is not an arms length transaction. We have asked our accountant and Solicitor to look at the options for us and we are waiting on their suggestions.
As we want to make a fully informed decision as to where we proceed to from here can we ask What advice does anyone have please?
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27/06/2014 15:28

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