I'm interested in good sources of advice before making a decision to wrap buy-to-lets into a ltd company? any good sources welcome thx in advance
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804MikeGG1 postedIf you have several properties, then it is probably a good idea.
This is a very general board here and the advice you need is going to depend on your particular circumstances so I would suggest that a good accountant should be consulted. You would probably need one anyway.
he would be able to advise on the most tax efficient way of setting things up and on the best way to get profits out of the business.
It could be by way of salary, dividend or pension contributions, but probably a mixture of 2 or 3 of those.
Mike
Posted on 15 February 2010 |
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0fatmacslim posted
Thx Mike,
I plan to discuss with my accountant in the near future but I like to be well prepared and in a position to challenge a little!
The tax position, income vs corp and cap gains comparisons interest me, also the ability to justifiably allocate a broader range of expenses within the ltd co.
All further suggestions and/or directions to web or other media advise appreciated.
Fatmacslim
Posted on 16 February 2010 | Love 0 loves
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28matchmade posted
Try Carl Bayley, How to Use a Property Company to Save Tax, published by Tax Cafe. He is generally down-beat on putting BTLs into a property investment company rather than handling them under self-assessment, but there can be advantages in ownership terms and if you hold the houses for a considerable period of time. There are more significant gains to be made if you also do a degree of renovation or even development, but again you need to be prepared to hold and grow rather than take an income out of the company.
Posted on 28 April 2010 | Love 0 loves
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