Hi guys,
I have two clients, husband and wife, who have two,houses that they rent out, and I have done the tax returns, splitting the profits etc, 50/50.
The husband is now starting a property management business, and wants to know if:
A. It would be better to be a limited company.
B. Can the houses belong to the company.
I've not had much experience of this, being quite new to the industry, so would appreciate some guidance.
I would imagine that a limited company would be a better option, from a liability point of view, but I'm open to suggestions.
If this is the case, would the houses have to be valued, and brought into the company?
Or, maybe he just trades as a sole trader, with rental pages on his tax return?
Thanks.
Replies (2)
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What do you mean by ' property management business'. A no B yes in its most simplistic but it is always more complicated as each circumstance is different