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  • FIRST POST
    • Magginnis
    • By Magginnis 16th Apr 19, 4:45 PM
    • 8Posts
    • 0Thanks
    Magginnis
    Purchasing additional buy to lets
    • #1
    • 16th Apr 19, 4:45 PM
    Purchasing additional buy to lets 16th Apr 19 at 4:45 PM
    My wife and I are retired now (aged 70).
    We have personal income which takes us into the 40% tax bracket.
    We are recently in the process of buying a number buy to let properties.
    We have been advised to set up a ltd company and purchase these within the company, 50% shareholder myself and 50% wife and then to place in our will to distribute the shares to our two children equally.
    I am keen to get any advice or thoughts please as to whether you think this would be the best way to proceed.
Page 1
    • Keep pedalling
    • By Keep pedalling 16th Apr 19, 6:49 PM
    • 6,284 Posts
    • 7,258 Thanks
    Keep pedalling
    • #2
    • 16th Apr 19, 6:49 PM
    • #2
    • 16th Apr 19, 6:49 PM
    As this has nothing to do with ISAs you might be better off posting in a more appropriate board, although considering you appear to be very wealthy, you really should take paid for professional advice both on the most tax efficient method of running your business and IHT planning.
    • jimjames
    • By jimjames 16th Apr 19, 9:56 PM
    • 13,210 Posts
    • 12,235 Thanks
    jimjames
    • #3
    • 16th Apr 19, 9:56 PM
    • #3
    • 16th Apr 19, 9:56 PM
    If you're retired I wouldn't be looking at options that create more work for you, I'd use passive investments that require no maintenance or calls out of hours from tenants
    Remember the saying: if it looks too good to be true it almost certainly is.
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