Benefits of LTD companies in property 2020

[khuram 2]

Hi guys I am just trying to get my head around the benefits of having a property under a LTD company? I am currently looking to get my first BTL and run my own business (nothing to do with property). From what I understand it only becomes a benefit to go through the property route when your earning over 50k a year in total personally?

Can someone clarify. TIA  

[haf1963 125]

its much more complicated than that and there are loads of good videos in the education section of this website worth watching. Also its generally advised to have a dedicated LTD for property versus mixing with other business's. I had to do month sof research and speak to an accountant before making the decision to go LTD so my advise is to not rush into it. There are also loads of complications of how you get money of a LTD as its easy to get caught and pay double tax for example.

 

[Matthew Webster 6]

Hi - assuming you already have an accountant for your non property related business that you already run, I would speak to them and ask the question, as they should understand your overall financial position and be able to advise accordingly. Hope this help, thanks Matt 

[ChallisJ 29]

20 hours ago, MWebster said:

Hi - assuming you already have an accountant for your non property related business that you already run, I would speak to them and ask the question, as they should understand your overall financial position and be able to advise accordingly. Hope this help, thanks Matt 

Sound advice but just to add it is always worth checking that your accountant has the relevant property tax knowledge - not all do!