vyaw2003Participant@vyaw2003Join Date: 2006Post Count: 180
I am looking at setting up a trust for me to buy a new property (lower tax rate).
I am just working out my finances now for the deposit.
Would I be best to pay the minimum deposit? Or pay 50% of the purchase price as deposit (as I have the cash to also do this)?
What are the general advantages of each and which is the best way to go on this?
This is beyond my accounting skills.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,058
Why are you paying the deposit? get some legal advice on whether you should lend or gift to the trust. if lending, should it be interest free or at market rates.
COnsidered all the issues with a trust? Could end up paying more tax.
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