Search the Community

Hi fellow forumers, I'm wondering if anyone has experienced a similar set up in the past and can advise me of their thoughts. This is our first development of this type and although we have a good accountant they are not property specific so I'd be interested to hear some ideas. Here goes... We have a development company and are due to complete construction of a block containing 9 apartments next year. As part of the purchase deal, the seller is retaining 2 of the apartments effectively leaving us with 7 apartments. We may sell a couple of flats but at the moment let's say we are going to retain the 7 flats and rent them out. We would like to avoid estate agents fees so we would act as the agent ourselves - marketing, finding tenants, safety checks and certificates, dealing with rental payments and so on. We would also act as the Management Company so in rental terms that would mean dealing with tenants, maintenance and so on. We would also be the Management Company for sold flats (including the 2 sold off plan at land purchase) so would deal with maintenance, communal cleaning, service charges etc. We want to remortgage the 7 flats (currently unencumbered) to receive some funds to move forward with our next development. My question is what is the best set up for this? We have 1) a development company, 2) a rental company and 3) a management company. Should we keep all of these as separate companies or should we keep them all as one company (the development company that currently exists). Is it legal/possible to do this considering requirements of a rental and management company? If we are looking to remortgage to fund the development company would lenders want everything under one company? I'm sure there are other questions that I could raise but at the moment I'd just like to get my ahead around this. There may be someone that has a really simple answer for me, or I may be completely off track with my thinking so would really appreciate any guidance! Thanks in advance.

Hello all. I want to understand the best way to setup a limited company/companies structure with my wife that will provide flexibility for structuring income in the future and legacy planning as well. In terms of IHT, I've heard about assigning freezer shares to children or a trust, but as these are very long term plans (don't currently have children) i want to have the flexibility to do this in the future but maybe not right away. I plan on buying and holding resi and commercial properties (potentially mixed use). However, i may down the line look at serviced accommodation which i believe is classed a trading business and therefore has other tax benefits. So, it would be great to get some ideas on how to best structure this taking into consideration income tax, CGT and potentially IHT in the future. Many thanks

Hi All, What guidance do hubbers have on pre purchase surveys for a conversion mill leasehold flat? I've not purchased leasehold before. The 1 bed flat is a ground floor unit converted around 15 years ago in a Grade II listed building. Presumably a structural survey would be limited to the unit, rather than the building? What should I expect from the seller's solicitor / management agent? Thank you for any advice

Is it possible for nonresidents to secure finance in LTD structures without having personal guarantees witnessed and signed? After 10 years of procrastinating on finally going to spend some of my rental income and travel Asia, however this presents a problem when trying to maintain growth as the funding partner of JV SPV for flips – as: anyone with 25%+ shareholding is required to have a personal guarantee witnessed and signed power of attorney not accepted by some lenders, preventing someone I authorise to fulfil this role even if I am a creditor of the company, I will be brought back into the picture when answering the 'source of funds' question on the finance application unless I want to travel back to the UK to have personal guarantees witnessed and signed, I need to find an authorised person abroad to do this and then send wet ink copies back which could hold things up by weeks or months when its inevitably lost in the post. I'll be gone for longer than 6 months hence non-resident.

Hey Fellow Investors Enthusiasts, Our family has a large commercial building in my Mothers sole name no liabilities, we have about 120 k to renovate. The area is a commuter area, in an demand area for rentals (Rep of Ireland) Intentions 5 year plan lets say, Convert portfolio into Ltd company Tax? Split the building into three identity's Portfolio 1. Start with One quality 5 bed HMO next 12 months Town House Portfolio 2. Add a 3 bed self contained + 2 one beds self contained 12 - 18 months Adjoining to the Town House separate entrance Portfolio 3. Large commercial building to residential however that 3 - 5 years time Separate entrance Major concern, my ultimate intention would be to operate in the UK Questions, even if i had a portfolio producing great cash flow over a number of years with fair amount equity holding in a company will i be recognized in the UK (Banks, Lenders) in years to come or do i register the company in the UK or become a resident myself. I am worried that this endeavor wont be created right from the start. Where could i go to get advise IE finance brokers mortgage brokers? Thank you Regards Tom

Louise and her team property tax specialists wrote an article that posed some questions to help people understand what structure they should hold their property investments. It was written to provoke you to come up with some answers yourself before you sought out the advice of an accountant. Hope it helps http://www.optimiseaccountants.co.uk/buy-to-let-property-ownership-advice/#.WXsXItPyuRt

Louise and her team property tax specialists wrote an article that posed some questions to help people understand what structure they should hold their property investments. It was written to provoke you to come up with some answers yourself before you sought out the advice of an accountant. Hope it helps http://www.optimiseaccountants.co.uk/buy-to-let-property-ownership-advice/#.WXsXItPyuRt

Hi All, my my partner and I are new to the property world. From February we are looking to buy our first property together and start our property journey from there. I looking for advice on best way to go about getting this next property. i already own a property solely in my name but my partner will be a first time buyer. Now we are looking for a place we can refurb and fix up as she has the skills to do this, and likes to do this. She is a technical architect professionally and keen eye for interior design. we will live in the next property, do it up and see if it would be good to sell or hold it and get our money out for another property. She would like to hold it and get the money out for another property. the question is what is the best way to get the next property, as she would be a first time buyer might be some advantages to this. Thanks