SMF - Just Installed!

New landlord needs advise on leasing and tax issues

Started by Rotax, November 01, 2013, 12:39:01 PM

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Rotax

Hi guys newbie needing advice on a few points .

I have a couple of property's in the UK , one is about to get leased first its is a largish house in a city and should make 3000 PCM , it is on a buy to let mortgage in joint names ie me and wife
Its taking about 5500 per quarter in mortgage and a pile of cash in rebuild upgrade right now , when its finished it will have a value around 800k .
Both my wife and myself are zero rate tax payers as she is a house wife and I am expatriate live and work overseas, wife will soon be overseas again as well.
The second house is for sale but my intent was to use the equity from it to get into a holiday let house in Scottish highlands , probably 500 per week return .

What I'm not sure about is whether or not to put all this into a LTD company or run them as personal and use our tax allowances to help on the rental income .
As we can get, I a imagine about 18,000 tax free before we start but not sure if you can share it or would have to split ie one property per person.   

Can a LTD company lease the house or hoses without actually signing the property's into the company's holdings ? My primary concern here would be on capital gains on the city house as its likly to show an increase and I would make it primary residence prior to any sale as it would be when we moved back to the Uk

I would rather take dividends as a director from a uk company than have direct earnings from property as a non resident but it might not be a big issue


Any advise would be most welcome