Should I put my properties in an Ltd company or keep them in my name?

Double_V

Don't know much on the subject.
But 50K/year is a wonderful salary.

What do you do if I may ask ?

bluesnake

kinger101 wrote: »

Are you aware that the letting of residential properties is exempt from VAT? If the business has no VATable activities, It cannot register for VAT.

Are you aware that when a VAT registered business pays for something, it pays the VAT inclusive price. They don't get to claim the VAT back unless there are taxable supplies exceeding the value of the taxable purchases.

VAT is not sales tax. There is no option to pay the VAT exclusive price at the till.

Whether a business operates as a corporation or not is also entirely irrelevant for VAT purposes. Sole traders and partnerships for example can (and sometimes must) also register for VAT.

Thank you I was not aware of that because every letting agent I visited want their 8-16% + vat



Double V, IT contractors (I am not a contractor) in some areas like messaging, databases, networking command from around £300 a day to and possibly more than £550 a day, possibly more. Project managers £450-£800. IT management would say £600 to £1000 a day - the head of a team to the head of a few teams, but not director level. All in a large corporate environment. However some developers (mobile apps) are leaving uni and landing their first job at 45K and in two year goes up to 65K - not bad for a 25 year old.

kinger101

bluesnake wrote: »

Thank you I was not aware of that because every letting agent I visited want their 8-16% + vat

That's because letting agency fees are services charges. The actual rent itself is VAT exempt.