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Which way to jump?
Key points
- Operating a business by way of a limited company may offer protection against claims.
- A limited company will mean increased administrative and compliance costs.
- Reduced rates of corporation tax and more generous tax relief for loan interest payments may make a limited company seem more attractive.
- Refinancing loans into limited companies may prove expensive.
- Property investment companies will be unlikely to qualify for inheritance tax business property relief.
- Could future changes to the corporation tax regime make incorporation less attractive?
A range of tax legislation has disincentivised the buy-to-let property market over the past few years which has led to an increase in the incorporation of let property businesses. This has resulted in many advisers and clients asking whether it is better to operate a property letting business through a limited company. As will be seen although there are undoubtedly tax savings that could be made in many cases these...
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