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Business or investor?

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Author Topic: Business or investor?  (Read 68 times)

Steven.mc

Newbie
Posts: 1

I like property
« on: October 12, 2021, 08:03:51 PM »
Can someone give me a quick rundown of the differences please. Its all battering my brain to bits.
Or give me a site that I can read in basic language please. Or someone buying there first buy to let.

I'm in the higher tax bracket so opening a business for it sounds better, but then is there additional costs or stuff that is more beneficial to just invest on my own?

I'm planning to keep every penny I earn from rent (minus expenses) and put it back into more property and build up a portfolio. Adding even more of my money.

All ifs buts and maybe are doing my head in, I just want ifs thens this,

Thank you in advance.

Simon Pambin

Global Moderator
Hero Member
Posts: 565

I like poetry
« Reply #1 on: October 15, 2021, 06:07:01 PM »
Your best bet is to sit down and work out some numbers - cost of the property and how you're going to finance it. The question you want to answer is whether the tax shield on the interest payments outweighs the additional costs of running a company and the higher interest you're likely to be charged on a corporate mortgage. Try talking to a good independent mortgage broker to get a feel for what's realistic.

If you're finding this bit complicated then the chances are you'd be best off keeping it simple and buying the property in your own name.

El Porto

Jr. Member
Posts: 86

I like spoons
« Reply #2 on: October 19, 2021, 03:28:46 PM »
I'd spend the money to sit with a proper accountant/tax advisor. I think it would be well worth the investment if you are serious.

Hippogriff

Global Moderator
Hero Member
Posts: 4297

Abuse Officer
« Reply #3 on: October 20, 2021, 10:14:13 AM »
Quote from: Steven.mc on October 12, 2021, 08:03:51 PM
I just want ifs thens this,

If the crippling debts amassed by HMG throughout Covid will all need paying back... then they will come to those with the widest shoulders to subsidise / bolster the tax take... and that will be you (even if it's not).
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