UK Landlord Forum / Life

Hi

Never been a land lord before. After considering flats, i've decided to buy a small freehold 2 bed terraced house. £108k Merseyside.

House has been modernised, and appears to be in decent  condition, however, still has slate roof. (I'll be having a survey)  I'm about to apply for my mortgage (with 25% deposit). Rental income should be £550/575 monthly.

It has been suggested that I buy the property via a Limited Company.  I've had a quick google, however, i'm not sure whether it's for me or not?
Is it something I should look further into in view of the tax advantages, or should I just stick to buying as an individual?  I'm not intending to make landlording my life - just something to do with my savings as I'm in my late 50's and thinking ahead about it boosting my pension.

I'd appreciate any thoughts.

Many thanks.

It's not for you. Keep it simple.

Hi

Many thanks for that...one thing less to worry about.

Agreed. Ltd company only becomes marginally beneficial if you are a higher rate tax payer, and have multiple properties. This is based on my investigation into it.

I have to agree with the others. In the circumstances you describe, the simpler the better. If you haven't already done so, please do check the HMRC's own guides on rental income. I'm not surprised the Limited Company option was suggested to you though. Hope it all goes smoothly for you.