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First time buy to sell projectHow would one best set up/tackle tax affairs when taking on a buy to sell property for the first time as a newbie?

Feedback on the following would be most welcome:-

Is it better to set up a limited company for tax purposes (corporation tax to be considered) or to buy and sell it as an individual (capital gains to be considered).

Thanks

Chris Coyle

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Comments

  • Hi Chris

    I strongly recommend you to take professional advice on this.

    Unless you buy, rent and then sell the activity may be treated by HMRC as a trade and taxed as earned income as opposed to an investment with CGT anyway. If that is the case, a limited company may prove to be better for tax purposes, especially if you are paying tax at the lower rates.

    However, tax isn’t the only consideration.

    Will you be buying for cash or will you need finance?

    The reason I ask is that finance is far more readily available to individuals than companies and often a lot cheaper to arrange.

    If you would like an introduction to the tax advisers who look after my tax affairs please follow this link and complete the enquiry form at the bottom of the page >>> http://www.property118.com/landlord-tax/


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