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BTL Tax Company or Not
phillsmit3
Posts: 26 Forumite
Hi
I have 3 properties on btl and am looking to buy more.
They are all let out unfurnished.
With the new tax law for CGT 14% is it better to own the properties personally or through a company.
i am 25 and intend to keep the properties until retirement.
I dont want a purticulary wage from the properties in the meantime. any extra is a bonus.
someone mentioned that you can transfer the properties from company to yourself on a yearly(?) basis which would make most of some kind of yearly allowance.
How does this work?
Basically i am wondering the best way to save on tax!
Thanks everyone.....
P.s. I am on the lower tax amount in my full time work. 24% i think it is.
I am thinking personal is the best way until i hit the 40% tax bracket then think again. am i correct??
I have 3 properties on btl and am looking to buy more.
They are all let out unfurnished.
With the new tax law for CGT 14% is it better to own the properties personally or through a company.
i am 25 and intend to keep the properties until retirement.
I dont want a purticulary wage from the properties in the meantime. any extra is a bonus.
someone mentioned that you can transfer the properties from company to yourself on a yearly(?) basis which would make most of some kind of yearly allowance.
How does this work?
Basically i am wondering the best way to save on tax!
Thanks everyone.....
P.s. I am on the lower tax amount in my full time work. 24% i think it is.
I am thinking personal is the best way until i hit the 40% tax bracket then think again. am i correct??
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