Considerations when changing ownership from your personal name into a limited company
Any Capital Gains Tax (CGT) that you will have to pay, ie, the difference of the market value now and the price that you paid for the property, less any capital refurbishment costs.
- Any Stamp Duty Land Tax (SDLT) costs that will be incurred by transferring the properties into a limited company.
- The redemption penalties that you will incur by paying off your existing Buy To Let (BTL) mortgages early
- The solicitor fees incurred by transferring the properties into a limited company
- Any additional accountancy fees of running the limited company
- Any additional interest that you are likely to pay by using a commercial mortgage for your limited company over and above the buy to let (BTL) rates that you pay when holding properties in your own name
- The additional arrangement fees that you will pay using a commercial mortgage
Feel free to contact us, and we will help you find a far more cost effective solution
*Please note: We are not Tax advisors. Please contact your Accountant for professional advice