Can I have my son run my portfolio for me?

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    Can I have my son run my portfolio for me?

    I want to ask my son to run my small portfolio of properties (4) which I have always managed myself uo until now.Would it be best if I employ him or if he were to become self employed? He is about to become redundant.

    If you employ him, you'll have a load of things you have to do.
    Best if he's self employed for you.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


      HMRC's view is that you cannot choose whether you are employed or self employed. That basically depends on the nature of what you do. Generally, with self employment, you take the risk, including the risk of finding someone else to stand in when you are ill, but there is a longish list of factors that are used in deciding whether you have a contract of service (employed) or contract for services (self-employed).

      Whether you have to operate PAYE is a consequence of the nature of the contract, not the defining characteristic.


        This link to hmrc test may help you :


          And his experience in running rental properties are .............. ?
          If you engage him, then he has to know all the rules and regulations.

          Send him on a course before you engage him.


            Thank you all for the advice.My son has over the years helped me manage the properties and is willing to undergo training/gaining information as he goes. I agree that the self employed route is the best choice.


            Latest Activity


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              by AndrewDod
              As said unless you have at least 100 properties there is no way the van will be an allowable business expense. Stick to the ~50p/mile allowance....
              28-10-2021, 00:00 AM
            • Van
              by jase222
              Hi, I am looking to buy a van solely for my rental business,
              I was looking at leasing a van and was wondering about the tax side and if I can claim the amount or is buying outright a better option.
              I am not a Ltd company and do simplified accounts for mileage.
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              27-10-2021, 04:32 AM
            • Reply to Van
              by royw
              If you have another car they're more likely to accept the van as solely business use.
              27-10-2021, 17:57 PM
            • Reply to Van
              by jpkeates
              The safest thing of all is to simply claim the mileage allowance.

              To claim for a proper split in costs, you might be asked to show mileage records for all your business trips, which should match the proportion claimed.
              You'd also have to log the operating costs if you're going to...
              27-10-2021, 15:03 PM
            • Reply to Van
              by jase222
              What would do is 80% business 20% private, if say a van was 200per month could I claim 160 as a expense? Or something else
              27-10-2021, 14:49 PM
            • How is a mortgage overpayment accounted for?
              by nick_noal
              Hi all,

              I own a buy to let property that is registered in a limited company and I would like to set up a regular overpayment each month to reduce the balance of the mortgage.

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              24-10-2021, 21:41 PM
            • Reply to How is a mortgage overpayment accounted for?
              by Gordon999
              The net profit of £400 = £4800 per year which is subject to corporation tax at 19%. = £912.

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              27-10-2021, 09:21 AM
            • Reply to Van
              by jpkeates
              Unless you have a huge portfolio or a very unusual business, HMRC isn't going to accept a vehicle as a legitimate business expense for a property investment business.

              They may never notice if you do your own returns, and you can claim the mileage that's solely for the business.
              27-10-2021, 08:21 AM
            • Reply to Van
              by Section20z
              Leasing every time - and allocate to the business.

              "If it appreciates, buy it. If it depreciates, rent it"
              27-10-2021, 08:02 AM
            • Reply to How is a mortgage overpayment accounted for?
              by nick_noal

              Thanks for your help 👍
              26-10-2021, 18:40 PM