Lettings via a Limited Company
Two brothers inherited a couple of properties. They would like to let them out and have been told that a corporate structure would be best. In practical terms the letting will make a profit within a year although substantial (and genuine) repairs in the region of £50K are needed before the lettings commence. The annual profit from both lets will be about £30K.
The properties are owned jointly by the unmarried brothers. One of the brothers lives in one of the properties but will probably not do so once it is let.
Does anyone have any comments?