Buying or putting a property into a UK ltd company

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
13 Sep 2014 09:11 by Duggy1 Star rating in Mallorca Puerto Andr.... 9 posts Send private message

Does any one know the pros and cons of putting a Spanish property into a uk company so as to avoid death duties etc . There is one company that advertises a lot and says the costs are £5300 to action the placement and then £200 a year to submit reports to company house. 

 

Any thoughts or comments appreciated

 

douglas





Like 0      
14 Sep 2014 12:04 by Woodbug Star rating. 371 posts Send private message

Are you transferring an existing property to a new UK limited liability company or will this be a new purchase by the company, as the rules are very different? The figures you quote are a complete rip-off as you can easily buy a ready-made shelf company with full documentation for as little as £25.00. Some  formation companies will also include a UK bank account if a director is a UK resident. An annual return to Companies House is required and this is a nominal fee cost of £13.00 using the Companies House from no:  AR01. Accounts also need to be filed every year (no charge) and you can use form: AA02 Dormant Companies.

Everything can be done on-line and it is all very simple.





Like 0      
14 Sep 2014 16:23 by Duggy1 Star rating in Mallorca Puerto Andr.... 9 posts Send private message

My wife and I have owned the property for 4 years so the deeds would presumably need amending + payment of plusvalia although that may even be negative. 





Like 0      
14 Sep 2014 20:53 by steone Star rating in Santiago de la Riber.... 386 posts Send private message

I understand that either last year or maybe the year before a law was passed that totally negated any advantage of carrying out this scheme. Be careful, be very careful as not only is it against the tax laws to do it but if one tries to surcumvent the tax there are severe penalties for doing it.



_______________________
Stephen



Like 1      
15 Sep 2014 07:38 by Duggy1 Star rating in Mallorca Puerto Andr.... 9 posts Send private message

Stephen ,

 

thanks for the words of caution. The company is Wincham Internaional. You have probably come across them before and the scheme does sound very plausible 





Like 0      
15 Sep 2014 08:40 by acer Star rating. 1365 posts Send private message

I don't know the current situation but I do know in the past that several of the larger financial advisors have sucessfully recommended this strategy.  Many years ago I was involved on the periphery, as a notional director, in one company set up in Gibraltar for a relative who owned a property on CDS.  This was arranged by Blevins Franks who I believe are considered respectable.

I had a quick look at their website - couldn't see much detail, but they do have seminars in Spain which may be worth attending - http://www.blevinsfranks.com/Seminars

 





Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Denia - What can you tell me? - 1 posts
Best Software Photo Slideshow - 1 posts
FERAL CATS in Mazarron Area...a problem - 0 posts
Landlord wants to sell - 24 posts
Trying to rent a garage/storage space in San Javier region - 2 posts
New Flag after 18th Sept - 27 posts
Supreme Court and Bank liabilities 57/68 - 4 posts
Hidralia - Water bill question - 2 posts
Pension application - 0 posts
Even the weak Euro is strong. - 5 posts
APARTMENT WANTED FOR JAN 2015 - 0 posts
Setting up Electricity and Water Bill Payments Online - 4 posts
THERE'S A RAT ON MY TERRACE! - 17 posts
Illegal Buildings - Valencia - 16 posts
EMZ car hire booked via BCO - 0 posts
Missing Pipes - 3 posts
Trafico - 1 posts
Changing Bank Account for Community - 1 posts
Gas BBQ wanted - 1 posts
Different areas - 0 posts
Mortgage - 2 posts
moving to condado de alhama murcia next month!! - 1 posts
Costa del Sols Estate Agents - 4 posts
Speeding ticket - 2 posts
Case won against BANCO MARE NOSTRUM in an Inroal development - 0 posts

Number of posts in this thread: 6

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:  
Email:
   


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x