Tax advisor/Accountant recommendations needed

[pi_newbie]

Hello,

We are planning to register a limited company for buy-to-let business activities.

We are currently looking for a tax advisor/accountant specializing in the property investment field.

I would really appreciate any recommendations based on your experiences. We are interested for advisors around the London area and South East England(Surrey county).

Thanks in advance.

[King_Maker]

Is there a particular reason why you want to use a limited company?

[pi_newbie]

Yes, the reason we want to use a limited company for our buy-to-let activities is simply because we want to invest for the long-term, we don't expect immediate income out of it. We want to build a business where later on we can pass it on avoiding property taxations.

[tenant29]

What property tax are you trying to avoid ?

On purchase of property, SDLT is same for using personal name and company name.
On sale of property, SDLT is paid by buyer.
Capital Gains Tax is 18% in personal name and 28% Corporation Tax in company name.

[ncooper1974]

I also run a BTL business from my Ltd company, but this was more by accident than by chance.
I'm actually in the IT Trade, but wanted to keep my 1st flat so sold it to my company and rent it out from there. I now have 2 in the company, and plan to transfer a 3rd (currently owned privately by myself) into the company. In the next 6 monts I'll be taking the IT Trade out of the company into a new Ltd company, and keeping the existing company to run the BTL side of things.

As I bought many years ago, and have paid quite a bit of the mortgage of, i generate quite an income. If i were to own the flats privately, then I would be taxed on this income as I'm a higher rate tax payer. however, if I keep the profit in the company, then i can release the 'funds' as and when i need it (in the form of dividends), and thus am in full control of what personal tax i pay.
I understand that as a private landlord, I only pay 18% CGT compared to 28% in the company, but this is a long term strategy for me (i may even sell of the property portfolio at some point) and so can't really legislate for future changes in tax.

[hmy7k]

The small company rate is actually 21% up to a profit of £300,000 per annum and you are also entitled to indexation allowances on capital gains.

Therefore if you are a higher rate tax payer and dont intend to take all the money out of the company this is a strategy that should be given serious consideration.