UK Landlord Forum / Life

I own a rental property and pay tax on the income through my personal tax return which is costing me a fortune.  Can I set up a company and move my house into the company allowing me to hold the profit in the business to potentially buy future houses? Thanks

Yes you can.

£20 to set up a company, £500 a year in professional fees to run the company, probably £1000 in legal fees to transfer the property into the companies name. Get a business bank account, Santander are good and offer free for 18 months and very hassle free.

Any capital gain on the property would crystallize for you on transfer, the company would not get any Capital Gains tax reliefs open to you privately on sale.

Your property business though would be cheaper to sell as you could just sell your shares.

That is the advice of me, as ex fudge packer. ( Cornish clotted cream fudge none the less!)

You may well wish to employ a professional, but by no means do you have to, but you can't sue me as you don't know where I live, or whether I am actually a 15 year old girl pretending to be an overweight middle aged balding man in the weirdest gooming scenario ever.....