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Inheritance, Property LTD Co. No or yes?


thomasjr

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Hi,
Some advice would be greatly appreciated.

My family & I are discussing estate planning between my Sibling & I.
We have a fair piece of property that could be split up into two independent premises There is a HOUSE & a commercial premise. There is potential to modernize & we potentially have some capacity to put that modernization in Train.

THE question, is there a real need to complicate things too much?
Under the parameters of inheritance, the limit for two children (would suggest that we would be relatively safe from CGT on sale

From what I understand the HOUSE could be modernized incorporate 2 flats a flat each make the flats our main residence then subsequently leases 1 room out each.

Then the commercial building an idea could be to lease the premise trough a newly formed company by my sibling & I, then sublet the premises to a third party.

THE main thing I believe to avoid is the incorporation of the buildings into a LTD Co. YES?

Or lease the commercial building to a third party, the rent would be split & the tax rate would be calculated given our salaries, YES?

ANY tips, I thank you for viewing.

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