8:42 AM, 18th November 2015, About 7 years ago 4
I have a few queries which I need to iron out as I am receiving different advice all the time.
Earlier this year me and my brother decided to invest in the BTL market and now have 4 properties we jointly own. The issue we have now is whether to setup a limited company and put all our current property’s and future purchases under the Ltd company.
Reason for this is because I am basic rate tax payer(20%) and my brother is a higher rate tax payer at (40%) so from what I am aware we will be paying more tax due to my brothers higher rate of income tax.
I have been told that in order for a Ltd company to be beneficial we should first grow our portfolio to 6+ property to make it worthwhile? Also I have been told that trying to get a BTL mortgage with a ltd company can be more difficult?
Our current gross rental income is approx 30k per annum.
Any advice or any specialist property accountants that can be recommended would be very helpful.
Previous ArticleTracing employment from National insurance number?
Next ArticleFixed term AST or SPT?