SMF - Just Installed!

New to the game

Started by Tony1, August 15, 2013, 02:03:15 PM

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Tony1

Afternoon all

I am just looking to get into the property business, and wondering if I should be a sole trader or register as a limited company with companies house


Thank you in advance

Tony1

spoke to a lettings agent and sole trader is the way to go

does anyone know about tax etc and how you will pay it as it is seen as another income

434_10

The money you'll earn from letting the property is called "unearned income" you will need to keep full and proper records of your incoming and outgoing money and complete a self assessment tax return once a year.  I find the HMRC quite helpful.  Good luck :)