Originally posted by ASB
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I think the downside is the additional admin setting up and running an LLP. The accountancy fees could easily wipe out any tax gain unless you are confident enough to do most of it yourself.
The model probably also works better with a few more properties in the portfolio.
The bit I find most attractive is the fact that the LLP is a separate legal entity, so it's easy to have clean separation between your property "business" and you personal tax affairs.
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