2Nd Property

[kanwal3017]

Should I buy a second property through a company or as a sole proprietor?

[AuntPollyGrey]

Depends whether its a cash purchase or you need a bank loan to acquire it. Is it a BTL or renovation project to sell?

[Peter Pedant]

I think you probably need an accountants advice on this one.
what will be the trading object of your company?
for a start.

from the tax point of view - I was told there was little in it - hence the need for advice

[Barmaid]

Take tax advice. But to be fair if it is only one property, I might be inclined to just do it as a btl rather than through a ltd company. The taxation consequences of selling in a ltd co are horrific. If you are looking at a portfolio then a company might be better.

I think professional advice tailored to your individual circumstances would be best.

[fiction-factory]

kanwai has since reposted this question- I think just to add the info that it's a buy to let property

[Naheed]

It is better to buy a second property via a limited company as it has a couple of financial benefits. One benefit is the way you are taxed on the rental income as now you will be liable to a Corporation Tax. But before making the decision, you need to consult a professional who will analyze your situation and offer advice and guidance.