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Owning Property, legal and beneficial ownership. What's the difference?
Manage episode 301410975 series 2977496
Вміст надано Simon Howley ATT (Fellow), CTA, ATA, AFA, MIPA and Amanda Perrotton LLB TEP Solicitor, Simon Howley ATT (Fellow), CTA, ATA, AFA, MIPA, and Amanda Perrotton LLB TEP Solicitor. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Simon Howley ATT (Fellow), CTA, ATA, AFA, MIPA and Amanda Perrotton LLB TEP Solicitor, Simon Howley ATT (Fellow), CTA, ATA, AFA, MIPA, and Amanda Perrotton LLB TEP Solicitor або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
In this episode, our very first episode, we discuss the various ways in which UK property can be owned and the critical interaction with your lenders terms and conditions.
So what are the 5 ways of owning UK property?
- Joint tenancy.
- Tenancy in common
- Freehold
- Leaseshold
- Beneficial interest trusts
We explore the fundamental difference between legal and beneficial ownership, and how this dictates how any income will be taxed.
How easy it is to split the title of a freehold, into distinct separate titles, and the uplift this gives in valuation and the importance for lenders.
We also discuss how important it is to understand, how sometimes what seems like simple tax and legal planning, can actually put you in breach of your lenders T&C if you are not careful.
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A new episode will be uploaded each week on Monday mornings, and if you have any burning questions or queries regarding any tax or legal topic surrounding UK property, then we would love you to send them in to to us at enquiries@bhptax.law, marked 'Property Planet' and we will try and include them in the next podcast.
Also if you would like to arrange a free 30 minute consultation on a particular tax or legal matter relating to UK property ownership, investment or development, then please contact the team on +44 20 7129 1432 or email us enquiries@bhptax.law.
We'd love to hear from you. Lets work together to create a game changing experience
For more information about Bell Howley Perrotton LLP go to our website
https://www.bellhowleyperrotton.co.uk/
To get in touch with Simon or Amanda their contact details can be found here
Team (bellhowleyperrotton.co.uk)
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