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Transferring property to a limited company
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As we have an interest only mortgage the payments are affordable, we have of course costed it all out to ensure that we can cover any void periods, that's not the issue. I was just trying to find out the possibilities as well as cost/benefit of moving this venture to a limited company rather than as a private individual. In these circumstances it seems we are better off going ahead as we are. Given that this isn't a second property, it's my partner's only property, we have paid less stamp duty than would have been the case as a company and so that will offset the tax we might have saved in any case. Looks like it may be wise to sell up after 2 years before the full tax changes kick in but can cross that bridge when we come to it. Thanks to those who offered genuine helpful advice.
Don`t wait two years, every landlord and his dog will have caught on by then and they will all be trying to offload bits of their portfolio by that time?0
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