Looking at getting another BTL. For various reasons it will be a cash purchase.
My Wife owns our current BTL's for tax reasons although I'm now a lower rate tax payer.
Buying a new place as ourselves is straightforward.
However should we look at setting up a company and buying through it? We could loan the company the money and thus get rid of any profit by repaying us the loan (so no corp tax).
GCT isn't a worry as no plans to sell but pass onto children.
So some questions
How easy is it to set up a company with Wife and I as Directors? Possibly add children in years to come
How much of an admin chore is it?
Can we loan the firm money, and then repay that loan in stages avoiding Corp tax?
What are the costs associated in running a firm?
All help and comments appreciated
My Wife owns our current BTL's for tax reasons although I'm now a lower rate tax payer.
Buying a new place as ourselves is straightforward.
However should we look at setting up a company and buying through it? We could loan the company the money and thus get rid of any profit by repaying us the loan (so no corp tax).
GCT isn't a worry as no plans to sell but pass onto children.
So some questions
How easy is it to set up a company with Wife and I as Directors? Possibly add children in years to come
How much of an admin chore is it?
Can we loan the firm money, and then repay that loan in stages avoiding Corp tax?
What are the costs associated in running a firm?
All help and comments appreciated
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