Michael Sohor & Co is now known as Tamen Accountants. This is a name change only - we are the same dedicated team, and look forward to serving our valued clients for many years to come.
If you are happy to leave the rental income generated in the company then you might consider this. Otherwise, it doesn’t make sense because rental profits will first be subject to Corporation Tax at 19% then the income must be extracted via salary and/or dividends, which are subject to further tax.
Generally a specialist property investment company makes sense once the investor starts to accumulate more than 5 or 6 properties.
Note, if you want to transfer an existing property portfolio to a limited company, you are effectively selling the properties which may generate a Capital Gains Tax liability, and possibly Stamp Duty Land Tax.
Our tax experts we can make sure all your tax returns are filled out and submitted in the most efficient way. Get in touch to find out more about our tax return services.