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jonnyboy

Should I setup another ltd just to renovate properties?

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I have a ltd which rents properties out at the moment. We have 2 properties. 

We've just bought our 3rd which needs to be refurbished. Is there any benefit to setting up a 2nd ltd that would do the work in terms of tax? I don't know if there is I'm just seeking ideas/thoughts on the subject.

Thanks

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This is unlikely to have any great benefit other than doubling compliance work. Most refurb work would be an allowable expenses whereas you might have to capitalise enhancement expenditure. There could be other commercial reasons to separate the activities although this would only really be suitable for larger concerns or where increased risks exist.


Jerome
07943005902

 

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