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Letting out my house after 14 years

3 replies

apismalifica · 10/05/2015 12:25

I want to hang on to my house and let it. I have done BTL before and am actually moving into a BTL property I've owned for a few years already. Always planned to move there and sell my house, but now decided to keep the house if possible, in case I need to move back (complex family reasons). Someone asked if I was going to set up a company to let the house and I've just started to wonder if this would be a good idea or not. Please can anyone tell me what the advantages/disadvantages of setting up a company would be? For example, would I have to pay stamp duty (which would make it financially impossible?, or would it affect a btl mortgage (already offered)? I've been trying to find an independent advisor who can talk me through the issues with no luck so far, any thoughts on where I could find one? Thanks all! X

OP posts:
specialsubject · 10/05/2015 17:35

presumably they have read this article?

www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11221498/Im-a-buy-to-let-investor-could-I-pay-less-tax-by-setting-up-a-limited-company.html

the Telegraph thinks BTL returns 10% or more, (actual figure 4% or less for most) and even they are saying it is not a good idea.

also check your CGT position.

apismalifica · 10/05/2015 23:31

That answers a lot of my questions, many thanks specialsubject X

OP posts:
specialsubject · 11/05/2015 10:08
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