The interviewer is great in this video with asking concise questions and asking for clarification for the benefit of those are inexperienced in property management.
Helpful video thanks. I'm sure I read though that in 2023 corporation tax is increasing from 19 percent to 25? Also from what I gather from your video small investors with only one or two properties in the basic rate band of tax wouldn't benefit from setting up a limited company? thanks
Hi! Yes, that is right on both counts! Corporation Tax increased in April 2023 to 25% with a Small Profits rate of 19% for businesses earning under £50k per year. Between £50k and £250k there is a marginal relief in place. A limited company isn't always the right choice for everyone - those with a small portfolio in the Basic Rate tax band may be better off as they are. However, you can own a mix of company and personally owned property, so could buy future properties in a limited company. Hope this helps!
I’m about to create a LTD company to buy property for BTL. Can you advise me that when incorporating the company WHAT IS the correct wording of the model articles have been incorporated regarding a sole director
Hi thanks for your question. This is quite a complex area and your articles should reflect how your business and share classes are created. We advise you get professional assistance and tax advice on this. 😊
Hi Cyril, Thanks for your comment! If you need property tax advice you can book a consultation using the link below - please mention in the notes when booking if you would like a consultation with Nadeem specifically. Hope this helps! 🙂 www.provestor.co.uk/tour/tax-consultations
