Do Landlords Need To Set Up A Buy To Let Limited Company? Buy-to-Let mortgage tax relief changes 3 months ago   02:35

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Property Investments UK
Recently, there has been a lot of talk amongst property investors and landlords about incorporation and about whether or not incorporating a buy to let limited company is the best way to offset the financial implications of Section 24.

*Amy Varle Interviews Richard Ignatowicz from Mortgage Savers

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Overview Of Contents

1. Section 24 And Setting up a Buy To Let Limited Company

As we've looked at in previous videos, Section 24 is likely to make buy to let a lot less profitable and could even see some investors fall into negative cash flow.

One way round the changes to mortgage interest tax relief is to set up a buy to let limited company, managing your properties from within an incorporated framework.

But, tread cautiously, this might work for some but won't be the best course of action for everybody.

2. Lessons From Ireland

The Irish government introduced something similar to Section 24 and have repealed it.

What they found in Ireland was that, in order to become profitable once more, landlords increased their rent by 50% which caused a lot of hardship for tenants.

Something similar may well happen in the UK.

3. Setting Up An SPV

If you have already decided to set up a limited company for your buy to let properties then it needs to be an SPV with a specific sic code for rental properties.

*NB On tax matters you should always consult with an accountant or financial advisor.

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Comments 5 Comments

Rob Tomlinson
Who on earth was that brunette? She sounded like she knew nothing about property. She replied " interesting" and sounded amazed when guy said you needed code specific to your business and not any code non related.
Nemi Financial
More please
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Buy-to-Let mortgage tax relief changes Do Landlords Need To Set Up A Buy To Let Limited Company? 3 months ago   18:46

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DAVID GILES (The Property Guy) interviews Rose Duly of Ward Goodman Accountants and Independent Financial Advisers.

Will the changes to buy-to-let tax affect you?
What are the workarounds?
Is everybody affected?
Can you move your property/ies into a Limited company without paying stamp duty or capital gains tax?