Asigning BTL income to Ltd

Hello,

 

A BTL is owned in 99:1 ratio, by a father and son.  Both are higher income tax payers. They are looking to assign the BTL rental income to a Ltd.

 

1. How would they assign the rental income to the ltd?

2. The BTL has a mortgage, can this mortgage payments and all the relevant expenses be reimbursed to the payee from the ltd?

 

Thanks in advance for your help and happy new year.

 

Manzar

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