Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 4 weeks ago 36
It seems we may have set up a method of working that is incorrect and seek your opinion. We own several properties in husband and wife names, we then set up a Limited Company and lease these to the company for a peppercorn rent.
The Limited company then lets the properties and manages them to tenants. All income and costs go through the company, minimum wages are drawn and dividends taken quarterly. It is a family business with only family employees.
We are both only 20% tax payers, this situation is nothing to do with tax it was done to protect our houses (assets) from anything going wrong in business.
All the houses are 100% owned outright. We thought that this is the correct way of trading our rental business, but are we doing something wrong?
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