Tlove your videos, have leant so much from all those advises. Thank you! I wonder if you could you make a video about how to protect your asset and your company after the dead of sole director shareholder, who would be in charge and running the company, what happens to those investments in that company and what to do now to avoid the disaster whicj will end up of loosing everything? I think it's of the most important matters that not many RU-vidr investers mentioned it on here. Thank you.
A few questions. How would land registry know that a trust has been created regarding a property? Are trusts registered with the government? And would placing property into a trust incur CGT? Your response would be much appreciated!
If moving a property into a trust, you must register the change with land registery. The trustees will ussually be listed as the legal owners of the property, but the Land Registry won't necessarily have the full details of the trust arrangement.
There lots of inaccuracy / misleading unqualified bollo___ being spouted by this chap. But to answer your question, the trustees must register it on the Trust Registration Service: www.gov.uk/guidance/register-a-trust-as-a-trustee That is after you have obtained a Legal Entity Identifier (LEI) for the trust. Think of the process as being similar to registering a limited company with Companies House. But that is just the tip of the iceberg with regard to the trustees' legal obligations. [ And don't enter into being a trustee lightly because you could be sleepwalking into a costly mistake or two that could land you in court and/or with a big HMRC fine] So, if you have no prior knowledge and expertise in this field then seek professional help: I would suggest engaging both a suitably qualified tax adviser (not any old 'accountant'), a FCA-regulated financial adviser (if investing in anything other than bricks & mortar), and a solicitor to draw up the Trust Deed and any accompanying side letter. Then, as another of the trustees's ongoing responsibilities, don't forget to revisit the arrangements annually to ensure they remain appropriate (taking advice where necessary again), renew the TRS registration, and submit the tax return for the Trust (+ pay the necessary taxes). Good luck.
Hi. Thanks for the video. Two questions: you mentioned you’d post a list of different kinds of Trusts. Where can I find these? And my second question is: if one wanted to put one’s own house into a Trust so that it could be sold and not have to wait for probate, what kind of Trust would that be?
Incorrect. Company assets are still taxed under Inheritance Tax if the company mainly holds securities or properties. You cannot just make a company, put your assets inside and call it a day, it will not be effective.
Hi, yes if a property is placed in a Trust, it will still be liable for Council Tax. Depending on the set up , it usually the resident of the property that is liable to pay than any other parties of interest. Please see the following link for further reading. I hope this helps www.localgovernmentlawyer.co.uk/lexisnexis/563-lexis-lg/lexis/localgov/property/35467-property-held-on-trust-and-liability-for-council-tax
You are under no lawful nor legal obligation to pay Council tax. Ask the Councils to provide a proof of your liability. Essentially something like a contract that stipulates your liabilities and their liabilities with a handsigned signature and details of any lawful remedy if any signed party violates the agreement. It doesn't exist, for the same reason why councils are going bankrupt left and right because they misappropriate public treasury on pet projects and other illegal activities without much of any audit trail not accountability.
@@chrissaltaur1254 A lot of internet research, reading, watching seminars and videos like this on RU-vid. All the info is on the Gov website, you just need to plough through everything. If mine goes through successfully, which I’m about to send off to Land Registry, I’m planning on offering a service for a much cheaper price that these thieving solicitors.
Hey man can I contact you privately to learn from you? I'd genuinely appreciate that so much, I'm not sure where to start and you seem reliable and genuine, if anything you could send me the links so I can look at them myself, I'd be so grateful @@frikshun_
do not listen to people that say you can do trusts without a professional, trusts are extremely complex and errors are difficult or sometimes impossible to undo. It is an exercise in false economy trying your luck.
I'm currently in the process of doing this myself, for a propertry my paresnt own. I've completed a AP1 form, TR1 form, ID1 form, and created a Trust document. The most I've paid so far is £25 for the passport photos of my parent for the ID1 form, and I need to pay £175 for the transfer fee. Lets see how it goes.
Take no notice, Your video is very clear, well presented, and informative, there are some people out there that spend there entire time looking for fault in anything, stay blessed brother.@@FinancialMadness
