Hi i only have 3 properties on buy to let mortgages. I am saving up for a 4th. Somebody suggested i look into making it a LTD company.
I know nothing about it and thought you long term landlords would be the first port of call to give me your opinions and advice.
I work full time at present and hopefully the properties will top up my pension in the next few years.
Thanks Jan
Have to crunch numbers. Accountant should help.
Are you in higher tax bracket ?
Interest rates are higher for limited companies so figures might not stack up.
Corporation tax is 19% (upto 50k profit).
Better relief of mortgage interest.
Accountancy costs.
No capital gains tax allowance.
Probably not worth it if you own the existing 3 individually. You would likely lose too much money in tax, fees and transaction costs.
Thanks for your advice really appreciate it
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