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I would like to work in property development but

2 replies

MilkMonitor · 05/05/2011 14:56

I wonder what the best way to go about it is.

Set up my own company? Just do it as an individual and be subject to all the capital gains tax issues etc?

Any tips please?

We've just built a new house on our land and I've thoroughly enjoyed the project and would like to do it on other properties. That is, extend and improve. But we don't want to move from house to house ourselves.

OP posts:
MilkMonitor · 05/05/2011 16:29

Or, would it be better to move into rented property (to live in) and then improve and develop other homes. Would I have to pay capital gains tax if I were renting somewhere whilst I did the work?

OP posts:
EtonRifle · 05/05/2011 23:23

Whether you do it as an individual or as a company, if you do serial property developments, you're running a business, so liable to income tax, not CGT.
It's probably easier and cheaper to start with to do it on an individual self employed basis.

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