Buy to let property - can I put it under my company's accounts ?

[kesm]

Hi all

I have a buy to let flat. I was wondering if it would be tax efficient to add this to my limited company? My boyfriend also has a buy to let and we are thinking of buying an additional property. Can I add this as well via my limited company. The other thought I had was to open a separate company for the buy to let's.

What is your advice?

Thank you!

[robpow]

I was on a small business training course the other day and the instructor mentioned specifically that you can't mix property business with other types of business in the same company.

Matt

[stek]

I was on a small business training course the other day and the instructor mentioned specifically that you can't mix property business with other types of business in the same company.

Matt

I doubt that's true....

[Clare@InTouch]

You would need to sell the properties to the company at market value, incurring stamp duty and legal fees thereon. There could be VAT implications, flat rate VAT implications, and of course any rent is subject to CT. That may or may not be better, depending on your personal circumstances.

If you wanted to close the company you'd need to sell the properties, again at market value.

If you are a contractor then the properties would also be company assets, and fair game if for some reason the company was sued etc.

Finally, mortgages for buy to let's are really difficult to get via a limited company apparently.

In short, talk to your accountant

[Clare@InTouch]

I doubt that's true....

Indeed - you can do it, it just might be a bad idea!

[Jeebo72]

I doubt that's true....

It's not true, I'm doing that already.

[Jeebo72]

[QUOTE=Clare@InTouch;1937504]

Finally, mortgages for buy to let's are really difficult to get via a limited company apparently.

[QUOTE]

Actually it's very simple. They're just slightly more expensive.

[Clare@InTouch]

Actually it's very simple. They're just slightly more expensive.

I've not tried it personally, but the advice from our tame IFA colleagues is that it's nigh on impossible. Maybe it just depends on who you are and your background.

[tractor]

...

You are all missing the important thing.....

It's 'buy to lets'

It really is....

[Jeebo72]

You are all missing the important thing.....

It's 'buy to lets'

It really is....

I'm sure the OP has taken on board your undoubtedly useful information.