Transferring portfolio to a limited company in ScotlandMake Text Bigger
I am a landlord in Scotland, I’ve been exploring transferring my portfolio or least half of it into a limited company. One of the main problems I’ve been experiencing is finding the right people to steer my through the process and don’t charge astronomical fees.
I’ve spoke with a few brokers and commercial lenders and I am not entirely convinced in what they are advising. My accountant is also looking at ways of getting around the CGT issues which is one of the main stumbling blocks. I understand that their may be a way around this problem.
I read an article that more lenders are starting to appear with more deals for incorporated landlords as more and more landlords are switching over. So it would appear that becoming incorporated may be an option…hopefully.
Has anyone gone through this process and could perhaps offer some qualified advice particularly on the tax and financing areas.
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