Start up advice please for a property business?Make Text Bigger
First of all, thank you for creating and managing the web site which I find very useful in this changing environment. I have read most (if not all) of the articles trying to get my head around all the current and new requirements and I still have so many questions. I hope I can get an advice on how to take things further as I believe in getting things right from the start.
I am currently a contractor (business consultant via my Ltd company) and my partner is self-employed (builder). I also have a rented property (only on my name) and we have a joint residential mortgage. We are looking into starting a property business and for this purpose the best option seems to be (correctly if I am completely getting this wrong) by setting up a new Ltd company with both of us as directors. Some of the funds for the new company will be borrowed from my consultancy company.
It becomes more complicated in terms of accountancy and tax at this point and we struggle to find a good advisor to cover all this. It seems that there are more options for married couples as well (such as share ownership transfer).
I read about the Declaration of Trust and was wondering whether this may be an option for my current rented flat.
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