Property roll over

 My client has a portfolio of 15 properties which are let on shorthold tenancies. A firm of letting agents have been appointed to act on behalf of my client to vet new tenants and deal with rent collection.

However the client handles other matters relating to the properties personally such as either carrying out repairs and maintenance from time to time or else arranging for others to do the work necessary.

The management of the properties absorbs varying amounts of his time each week but on average he may spend one or two days per week on this work.

For a number of reasons he wishes to transfer the properties to a newly-formed company. One reason is to reduce the tax rate on the rental income which he may not need to draw from the company and another reason is to facilitate inheritance tax...