Serene
30-09-2006, 07:01 AM
Hi there,
Parents House worth £230,000 and is paid for ie. No mortgage.
Lets say they remortgage to the tune of £150,000 on an interest only basis.
Q1. How does this affect IHT issues?
Q2. If I, their son, set up a Property limited company, how can £120,000 be moved into this company so that the company can use it to fund purchase of Buy To Let properties?
Q3. Is the £30,000 left in their account theirs, totally ie. No tax issues?
Thanks,
Bob
Parents House worth £230,000 and is paid for ie. No mortgage.
Lets say they remortgage to the tune of £150,000 on an interest only basis.
Q1. How does this affect IHT issues?
Q2. If I, their son, set up a Property limited company, how can £120,000 be moved into this company so that the company can use it to fund purchase of Buy To Let properties?
Q3. Is the £30,000 left in their account theirs, totally ie. No tax issues?
Thanks,
Bob