11:26 AM, 3rd November 2016, About 5 years ago 15
For obvious reasons most of the current S24 talk concentrates on higher bracket earners and/or highly leveraged landlords.
I’m the typical small portfolio landlord on the edge of getting stung by S24 so I want to make sure my next few decisions are well informed. I imagine there’s many others in my position so I thought I’d address the community for some informal advice before I speak to a tax planner.
I’m a sole trader with a couple of London rental properties and a fluctuating income. My current rental numbers are:
£32,000 Gross rental Income
I’m looking to buy another property so roughly an extra £18,000 in rental income and £6500 in mortgages. My personal income can range from £10,000 to £40,000 as a sole trader. I want to spend my rental income.
At this point should I – make further purchases in a LTD company? Move my sole trader work to a LTD company? One? Both? Neither?
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