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Merge 3 companies with same owner/director?

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We have three Ltd companies all owned and run by the same director. Each owns property and each makes a profit every year. We would like to bring all the property into one company to save on admin, etc. What's the best way to do this? Happy to provide more info if anyone can help, thanks.

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By David Ex
23rd Sep 2021 19:59

Afraid you’ll have to spend some of your prospective savings to get some professional advice to see you through what needs to be done in order to carry out the restructure correctly and without incurring unnecessary tax liabilities.

No-one’s going to do it for you for nothing.

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Replying to David Ex:
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By Joshualtaylor
24th Sep 2021 12:34

Thanks for your reply. Totally understand we will need to pay our accountants, I was just hoping for a bit of a steer on what might be possible or not. Thanks again.

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By Calculatorboy
23rd Sep 2021 21:25

Methinks he should have taken proper advice before setting up 3 companies. You don't even provide basic info such as what the company does and what the properties are used for.

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Replying to Calculatorboy:
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By Joshualtaylor
24th Sep 2021 12:39

Happy to add more info, I didn't want to go into too much detail and bore people! Company A was set up as a storage company, but now just owns commercial property and rents them out. Company B was set up as a joint venture but unfortunately the other director passed away several years ago. This owns other commercial property and rents them out. Company C was set up by the sole director and owns both commercial and residential property to rent out.

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By ireallyshouldknowthisbut
24th Sep 2021 09:09

As David notes, this is a such a broad and complex question there is no meaningful answer you can get on this forum.

The starting point for me is what was the original rationale for such an odd set up, and why has that changed?
Then you get into mortgages
Then into SDLT, CGT, all sorts of stuff. List is endless. it might be less painful to pay for 3* accounts if its a short to medium term hold.

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Replying to ireallyshouldknowthisbut:
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By Joshualtaylor
24th Sep 2021 12:43

Thanks for your reply. Understand this is a complex matter. I just posted another reply RE why they were set up separately to start with, I will paste below:

Company A was set up as a storage company, but now just owns commercial property and rents them out. Company B was set up as a joint venture but unfortunately the other director passed away several years ago. This owns other commercial property and rents them out. Company C was set up by the sole director and owns both commercial and residential property to rent out.

You have potentially answered my question... perhaps less painful to do 3 sets of accounts for the time being!

Thanks again.

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