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Hi, First time on the forum. I have recently set up a limited company with a close friend to use as a SPV, which we have just bought our first property using. I understand the tax implications regarding an ltd, we will not take money out of the company at all, instead, just pay corporation tax and reinvest the money in the business. I own a residential property under my name which I live in and currently rent one of my spare rooms out for £550pcm, which is in line with the rent-a-room scheme guidelines. I am planning to move out of the house this year and into a rented flat with
Hi, Does anyone know if I was to set up a limited company to own a property with a sole director, would there be any additional stamp duty implications or issues with the lender if another director was added to the company at a later date? Many thanks
Hi fellow hubbers, I'm currently reading 'Using a Property Company to Save Tax 17/18' and on page 195 it says: What are the cases where this isn't possible? My understanding of this is that I've taken out a bank loan, which I've then invested into my company as a director's loan, I am able to claim the interest relief when completing my Self-Assessment Tax Return? If this is the case, what boxes/parts of the SA Tax Return form would be completed to account for this?? Thanks for any help in advance!