If anyone would be kind enough to offer advice or recommendations, then it would be massively appreciated.
My goal is to slowly build up to 3/4 properties, medium to long term reinvestment with my partner, relying on my employment for day-to-day living costs.
I have put in an offer on my first BTL/refurb which has been accepted.
I have discussed this with an accountant, who suggested this is best purchased under a LTD company to be more tax efficient. They have offered to do our accounts, but the fee is £72 per month, per director, which would largely eat in to our profits on a single BTL.
My questions are:
At this stage, can we self manage a company?
Are there any useful tools you would recommend in tracking expenses for year-end filing?
Is an accountant worth it for one BTL?
If yes, would you recommend anyone?
Again I would really appreciate any input in to this. While I'm comfortable tracking and identifying expenses and profits, tax just confuses me.