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
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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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