We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Rental Income - Ltd Company V personnal tax return
Comments
-
Toshi, have you got a rough estimate of whether or not the property income will push you into the higher tax rate (or are you there already?)
Remember that you can offset the property income with legitimate expenses.
If you are still under the 40% tax rate, perhaps doing it on a personal basis might be best.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
Does being in a limited company affect your ability to sell the properties? :question: I'm sure there was a post on here in last few weeks where someone was trying to buy a property from a landlord who had done this and was having trouble with a mortgage?0
-
Will be still below the 40% band. Who is OP?0
-
OP = original poster i.e. you!
If you will still be within the 20% tax band, perhaps doing everything in your own name would be simplest.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
I looked into this last year. There can be benefits if you start off buying the properties through the limited company especially if you want to grow your portfolio. However, if you already own properties and want to transfer them to the limited company that means more stamp duty etc.
I already had my own limited company so there wouldn't have been any additional admin fees for me to do it.
It might be worth sitting down with a tax specialist to go through your specific scenario.0 -
I looked into this last year. There can be benefits if you start off buying the properties through the limited company especially if you want to grow your portfolio. However, if you already own properties and want to transfer them to the limited company that means more stamp duty etc.
I already had my own limited company so there wouldn't have been any additional admin fees for me to do it.
It might be worth sitting down with a tax specialist to go through your specific scenario.
Do be careful if you are using an existing trading company (ie non property) and will continue trading alongside the property investments.
As said here take advice if this is the case0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards