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About derrickw

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  1. Afternoon all, Has anyone looked into setting up an offshore Ltd to purchase UK based BTL properties? As an example, the corporation tax rate on the Isle of Man is 0% for "normal" businesses and 10% for property investment businesses* compared to 19% for now in the UK. Just wondering if anyone else had looked into this at all. Kind regards. * Please feel free to double check in case I got that wrong.
  2. Thanks for taking the time to write a detailed reply. Just to confirm - if I made e.g. £2000 profit in the first year with a directors loan liability of £40,000, if I wanted to would I be able to extract the full £2000 to repay the directors? Or would I need to pay CT on it first at 20% meaning I could only repay the directors £1600? Would you be able to give a very quick example of how carrying forward the losses works if you have a few moments to spare? Thanks again I appreciate your help.
  3. Hi and thanks for taking the time to read my question. I'm considering setting up an SPV Ltd and was wondering if the company can pay off the interest only mortgage. The deposit for the property will come from an initial directors loan into the company. The company will then take out an interest only mortgage paid for each month from the rental income. So in simple terms, at conception the company would owe the directors £40k and the mortgage company £60k. This would allow purchase of a £100k property at a 60% LTV. As an individual I could overpay an interest only mortgage
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