Buying new commercial, set up Ltd co?

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    Buying new commercial, set up Ltd co?

    I own a number of properties, earn over the 40% threshold, trade as a private individual and do a self assessment return each year for Land & Property.

    Now, I'm looking at a new property, but commercial this time, I'm 50/50 about setting up a Ltd company to purchase the new property in but others say different, insisting I should keep my current properties in my name (privately owned) and buy any new properties in the to save.

    My thoughts are dampened as ltd I have to submit accounts, far more time will be spent doing bookwork. I'd like to pass the properties onto my children one day so maybe having them involved in could be easier for tax.

    My opinions are exactly what you would expect, my own!

    A limited company doesn’t have to have been operating before you buy your first property within it, indeed many lenders will use your personal involvement in Property as a measure of credibility.
    If you decide to include your children , are they over 17 years of age and what percentage will you possibly be allocating, I ask as this could have a bearing on their eligibility if mortgage finance is involved.
    i suggest you consult a good tax accountant since it is within their domain that accurate advice be given.


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