Section 24 is as recent as brexit. Add in accounting costs, confirmation statement, annual return. You also conveniently left out the corp tax rate increase over £50k and dividend tax.
Not the full picture. Now add Corp Tax in and then dividend tax/income tax depending on how to you take the cash. Then your comparing apples with apples
That’s not convenient for the content tho. This is absolutely typical of the property space at the moment, people not qualified to give tax advice… giving tax advice!
Apart from the fact that between profits of £50k and £250k companies have a marginal tax rate of 26.5%, and pay higher rates of SDLT on purchase of resis. Transfer of personal name properties to a company will also trigger CGT & SDLT. Borrowing tends to be more expensive for LTDs too and directors can end up having to give personal guarantees. It’s not all sunshine and rainbows! But yes, if you are starting out LTD may be easier but please factor in say £1,000 per year accountancy fees - it may end up being more costly - get advice!
Section 24 is as recent as brexit. Add in accounting costs, confirmation statement, annual return. You also conveniently left out the corp tax rate increase over £50k and dividend tax.
Don’t you have to pay more taxes in the first place if you buy a property in a Ltd company
Not the full picture. Now add Corp Tax in and then dividend tax/income tax depending on how to you take the cash. Then your comparing apples with apples
That’s not convenient for the content tho.
This is absolutely typical of the property space at the moment, people not qualified to give tax advice… giving tax advice!
Apart from the fact that between profits of £50k and £250k companies have a marginal tax rate of 26.5%, and pay higher rates of SDLT on purchase of resis.
Transfer of personal name properties to a company will also trigger CGT & SDLT. Borrowing tends to be more expensive for LTDs too and directors can end up having to give personal guarantees.
It’s not all sunshine and rainbows!
But yes, if you are starting out LTD may be easier but please factor in say £1,000 per year accountancy fees - it may end up being more costly - get advice!
If i was to do holiday lets do you pay less tax
Be nice to know how to get a home from my personal name into a Ltd company
You open a LTD company on gov website
@@tendss that's the easy bit. How do you purchase it in the LTD company for not full value and get ripped off.
Can you do a vid on the tax when you pay yourself from the LTD company?
But when they reset the currency only personal debts in the only currency will be written off (£) 👀