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Found 5 results

  1. Hello All! Over 2019, my partner and I have been educating ourselves about property and all the ins-and-outs of BTL. We have managed to save £30k, and now we need to take the leap of faith and actually start DOING some investment!! I'm the kind of person who has to have a clear plan of action, and I'm really struggling to nail down the process to purchasing our first BTL. After many discussions and considerations, we have decided that buying property as an SPV Ltd company will be the best option for us (both in terms of tax implications, and long-term goals). We would be so grateful if anyone could offer any advice on what order to complete the following steps in: - Set up a Ltd company (Side note - how have people found is the best way to do this?) - Get a mortgage-in-principle (Is this possible for Ltd companies before finding a property?) - Put an offer in on a suitable property - Set up a separate bank account for the Ltd company (Can this be a standard bank account?) - Any other step in the process to purchasing your first BTL as a Ltd company that we have overlooked! Any advice would be very much appreciated! Thank you in anticipation, Hayley and Steve
  2. Hi all, Does anyone have experience of paying salaries from a Ltd company? I would like to pay my partner a small salary for her contribution to my BTL business. I am not based in the UK, but the company is. I would like to pay, say £5,000 p.a. Are there any implications to consider? Should I appoint her as a director? I will discuss this with my accountant, but would be good to hear any other experiences. Thanks JJ
  3. With two business partners we are setting up a LTD company with the aim of building a BTL portfolio. We are want to know if dividing the portfolio is a possible exit strategy. I assume this would mean the company would sell 1/3 of the properties to the leaving shareholder and the sale will be taxed on Capital Gains and Stamp Duty. Is there a practical strategy we can implement while structuring the LDT that would help us avoid taxation later? I was thinking of an ownership rota: As the portfolio grows, each partner gets ownership of 1 property while the other two get the first charge. Would this work? Any alternatives? Thanks in advance Tom
  4. Hi Hubbers, Has anyone had any experience with joint Ltd Company BTL mortgages? The situation is that I want to do more renovations to rent, 50/50, with a colleague who also uses an SPV. We would be buying the properties cash and then financing them once value had been added. The aim would be to hold the properties 50/50 going forward. However, coming up against it with joint limited company BTL mortgages, has anyone got any experience with this? Many thanks, Jack
  5. Hi there, After lots of deliberation, I have decided that in order to get myself started on the property ladder and finally make my move into a career of property rentals, I am going to open up a Ltd Company. (To keep it short, my spouse owns a help to buy mortgage, meaning unless the equity loan is paid off for this home - which we cannot afford to do- , I am not allowed to apply for any other mortgage. The only way around this is to set up a Ltd company.) As someone who has not run a Ltd company before and does not know a great deal on this matter, I want to know if anyone has any recommendation of sites, books, courses etc. that are useful in starting up an Ltd company for property purposes? Has anyone been through this themselves? A lot of the literature available on limited companies and property are US based and so not relevant for the UK market. If anyone could recommend any literature or other educational tools, I would be most grateful. TIA.
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