How can we transfer our buy-to-lets into a limited company?
Ordinarily, transferring a commercial property that is owned personally to a limited company may have capital gains tax (CGT) and stamp duty implications.
If you can demonstrate to HM Revenue & Customs that your property activities represent a business, rather than just an investment, then you may be able to benefit from incorporation relief. This broadly involves transferring the property business to a company in exchange for the issue of shares. If incorporation relief applies, any capital gain that arises may potentially be deferred in full.
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The Sun
4 minutes ago
- The Sun
Range Rover to remove convenient feature for next-gen model as designer bizarrely calls it ‘dirty'
THE ELECTRIC Range Rover will not feature a front trunk, according to the designer of the hotly anticipated SUV. The vehicle is yet to officially debut, with only teasers of its design revealed so far - although fans will be pleased to know the EV version closely mirrors that of the combustion-engine model. 4 4 But one convenient feature found in many electric vehicles won't be included - in a decision partly based on customer feedback. The car's designer, Lynfel Owen, recently referred to the front of the car as the "dirtiest part" and questioned why anyone would want to lean against it to use a front trunk. In an interview with CarExpert, Owen said: 'Why would I want to lean against the dirtiest part of the car to put stuff in?' He explained his reasoning in greater detail: 'We spoke to our customers… none of them have an issue [with] lack of storage space. 'The rear cargo space is exactly the same. We haven't had to raise the floor. The only compromise we have to make is we're not able to offer a seven-seat derivative.' Owen has spent the last decade overseeing JLR's transition to electric power, having risen to chief engineer of vehicle engineering for the Range Rover, Range Rover Sport and Defender models. 'I pretty much only ever worked on Range Rover,' he said. 'I've done a few other projects. I didn't work on the [Jaguar] I-Pace. I was working on the previous-generation Range Rover.' To that end, the I-Pace - launched under the Jaguar brand as the first premium all-electric SUV from any manufacturer when it was revealed in 2016 - became infamous for reliability issues, particularly with its electric drivetrain and battery pack. Its poor customer satisfaction prompted Jaguar Land Rover to learn from its failures, focusing on reliability, improved thermal management and customer-centric design in the development of the Range Rover Electric. Owen said: 'We're making sure we learn from, you know, our mistakes with respect to I-Pace. 'So we're testing all aspects of the car… we've just had a northern hemisphere winter that we've completed, so we've been doing our low-mu testing on the frozen lakes.' He added: 'Some people have got [chargers] bolted on. Their garage might have two or three cars… [so you don't have to use a] 15 metre cable. 'Cabin comfort. Battery temperature. Whether it's to cool it down, whether it's to warm it up. Recovering heat from the air at minus 15… It also reduces the heating energy consumption by over 40 per cent [compared to I-Pace].' This includes the decision to forgo a front trunk, with the rear cargo volume remaining unchanged from the combustion-engine version and the 117-kWh battery pack accommodated without raising the floor. This approach contrasts with the I-Pace, which offered a small front storage compartment. Indeed, due to packaging constraints, the electric Range Rover will only be available with two rows of seats - which rules out a seven-seat option. While a spare wheel will be offered, it will reduce luggage capacity as it will sit above the cargo floor. Much like the upcoming Range Rover, Mercedes' electric G-Class also lacks a front trunk - although they compensated with a uniquely styled tailgate-mounted cargo box. The electric Range Rover will not compete with the G580, Owen claims, as it offers unmatched off-road capabilities, combined with Range Rover's famed luxury. The electric Range Rover's world premiere is expected later this year, with deliveries expected to begin in 2026.
BBC News
4 minutes ago
- BBC News
Devon family accommodation sees 'surge' in last-minute bookings
There has been a surge in last-minute bookings for family accommodation in South Devon, helped by the good weather, a tourism boss has executive of the English Rivera Business Improvement District (BID) Carolyn Custerson said family operators, such as holiday parks, big hotels with indoor swimming and family activities, were about 75% full by the start of the six-week summer holidays."The weather stimulates bookings," she said. "It gives people confidence to holiday in the UK and we have seen a surge of last minute bookings."Rhian Hughes, sales and revenue manager at Lady's Mile Holiday Park in Dawlish, said its venue was already 80% full. "Fingers crossed we can get to full capacity," she added."I think over the bank holiday weekend of August, we are 100% full."She agreed that the good weather has played a big part in people booking. South Devon attracts on average more than four million visitors a year and Ms Custerson said bookings will continue "right through the summer". "For the next six weeks - having talked to major operators that provide family accommodation over the last 48 hours - I think we are running at about 75% full," she said."Some people are booking up to 24 or 48 hours before in advance."But she said "there is still capacity"."I think we will be 80% to 85% full by the end of summer, which is very good." She added that the recent spells of hot weather has helped to give tourists confidence in holidaying in the UK, compared to its biggest competitor which is going abroad. "We do have a very strong rebooking pattern which is testament to what we have to offer," added Ms Custerson."We are a year-round destination, but the summer is when the bulk of the visitors come."
The Guardian
4 minutes ago
- The Guardian
Newcastle left with uncomfortable feeling that Isak wants more and romance is dead
Football is a market. It has always been a market and it is more of a market now than it has ever been before. Everybody is constantly looking for a better deal, and everybody has a price. Every club has its place in the ecosystem and those higher up the chain will always take from those below them, who in turn will take from those below them. All a club can ever hope to do is to inch their way higher and higher in the structure, to increase the number of clubs they can feed on while reducing the number of predators who can feed on them. It may be reassuring to think of the legendary servants, the one-club men of the past, but even the term 'servants' betrays an uncomfortable truth. From 1885, when professionalism was legalised and the great clubs of the industrial north and Midlands began to acquire talent from Scotland, footballers have been a product to be traded. From 1963, when the retain-and-transfer system was scrapped, and increasingly after the Bosman ruling of 1995, players have had agency, although even before that there were cases such as that of Wilf Mannion, who went on strike to try to force a move from Middlesbrough to Oldham. Since financial fair play rules began to be introduced 15 years ago, preventing an owner splurging a fortune on elevating his side, the clubs climbing the ladder most successfully are those who have accepted their position within the hierarchy and traded accordingly. Brighton's ascent to become a top-10 Premier League side has been based almost entirely on their ability to identify talent early and sell it at an enormous profit to Chelsea. There remains a reluctance to be seen as a selling club, but other than Real Madrid everybody is a selling club now. Far better to be a selling club than a letting-a-player-run-down-his-contract-and-leave-on-a-free club. Clubs who will have regarded themselves as the elite, as destination clubs, have to accept that almost everybody is a stepping stone . Perhaps for those who are battling to return to the elite, who are not confident in their status, that is a difficult adjustment to make. Which brings us to Alexander Isak. The dance of briefing and counter-briefing that has played out over the past couple of weeks has been fascinating and, frankly, a little baffling. If Isak wanted to leave Newcastle – and he was considering his future in the final weeks of last season – why wait until after Liverpool signed Hugo Ekitiké and Chelsea acquired Liam Delap and João Pedro, as well as for Arsenal's move for Viktor Gyökeres to be at an extremely advanced stage, to make that public? Does the scarcity of centre-forwards on the market push his price up? Or does the fact that potential suitors have no burning need for a striker reduce it? Understandably, Newcastle fans are reluctant to see the Swede go. He is, after all, probably the club's best player since Alan Shearer. He is only 25; once upon a time it would have been possible to dream of him staying for the best part of a decade, scoring 200 goalsb. Last season was the best Newcastle have known since the first Kevin Keegan era. They won the Carabao Cup, their first domestic silverware in 70 years, qualified for the Champions League and their line was led by one of the world's most coveted strikers. It was possible to imagine a future when Isak was joined by players of similar stature. But that is not how modern football works. Isak wants more: more money (and his £120,000-a-week salary does seem below the market rate) and a more consistent chance of winning trophies. Newcastle could hang on to him, hope he does not succumb to bitterness and try to add further stars. Or they could take £140m and invest it in strengthening the squad as a whole, accumulating more assets who can be sold at a profit so more can be bought, driving their ascent. It is cold and mercantile, it is far from the romance many would like to see in the game, but it is also the reality. Sign up to Football Daily Kick off your evenings with the Guardian's take on the world of football after newsletter promotion There are two problems. First, the sense of loss if Isak goes, which is particularly acute for a fanbase that still carries the collective memory of the departures of Chris Waddle, Peter Beardsley and Paul Gascoigne in the 80s and the fear that the Saudi Public Investment Fund may essentially turn out to be the habitually beleaguered Stan Seymour in disguise. Isak is not the only Newcastle player pondering his future and there is a danger his departure is the start of a mini-exodus. Second, there is a lack of faith that the club is equipped to make the most of such a windfall. Paul Mitchell left this summer after a year as sporting director and although Jack Ross has been appointed as head of football strategy and Sudarshan Gopaladesikan as technical director, with Ross Wilson likely to be named as sporting director soon, it is unreasonable to expect anybody taking up a role in July to coordinate a coherent transfer strategy for a window that closes on 1 September, particularly with Darren Eales stepping down as chief executive because of illness. There has already been disquiet about a lack of incoming players, with Anthony Elanga the only senior signing to date as Newcastle have missed out on a number of targets, most recently James Trafford, who preferred to rejoin Manchester City. Although plans are being drawn up for a new stadium, there were fears last season that Newcastle might be the victims of a more general Saudi retrenchment. Meeting profitability and sustainability rules remains a check on expenditure, but with Champions League football this season there were reasons to expect the budget to be a little more generous. Instead, there is a sense of drift. In part that is misfortune, given the illnesses suffered by Eales and Amanda Staveley, who sold her stake in the club last summer. But the appointment of Mitchell never seemed a comfortable fit and the result is a vacuum. Last season was supposed to be the beginning of a glorious future for Newcastle; the fear within the frustrations of the past few weeks is that it was actually a summit.
