9:17 AM, 5th August 2013, About 9 years ago 21
I have been renovating my buy to lets without making a charge for my time and effort. I told the accountant I want to start charging £10 an hour for my labour as this will give a more accurate figure as to the total costs of the properties and also limit the capital gains tax when I come to sell. The accountant says I’ll need to set up a limited company, sort out payroll, national insurance and in short don’t do it. Sounds like using a sledgehammer to crack a walnut, any advice would be very gratefully received.
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