I am likely to inherit a company in the future and just wanted to ask a couple of questions,
This company doesn’t trade but instead owns about 10 properties (about half residential and half commercial) which it rents out, to be honest I don’t know that much about it and I don’t have a specific question but just looking for general advice or comments. If I was to inherit it I of course would get professional advice.
I note that on here owning property through a company is generally not recommended, are there any cases where it makes sense to keep property in a business?
I would have to pay tax on this inheritance, the company doesn’t have much cash but presume property could be liquidated to do this.
without knowing more details is is possible that entrepreneurial relief or retirement relief could be beneficial in this situation?
I presume if I sell the properties within the company CGT will apply just like an individual selling an asset?
This company doesn’t trade but instead owns about 10 properties (about half residential and half commercial) which it rents out, to be honest I don’t know that much about it and I don’t have a specific question but just looking for general advice or comments. If I was to inherit it I of course would get professional advice.
I note that on here owning property through a company is generally not recommended, are there any cases where it makes sense to keep property in a business?
I would have to pay tax on this inheritance, the company doesn’t have much cash but presume property could be liquidated to do this.
without knowing more details is is possible that entrepreneurial relief or retirement relief could be beneficial in this situation?
I presume if I sell the properties within the company CGT will apply just like an individual selling an asset?