Hi,
I hope you can give me a bit of advice, i'm afraid its a bit long winded but please stay with me.
I am a director a of a limited company (company A) this company owns letting property to the value of 690k with outstanding mortgage of 310k. Our current lender no longer suits our needs. So I have been looking for commercial funding for but to let, having found a very good deal there is one small snag. They will not lend to a limited company for buy-to-let if the company has had any income in the last three years from any source other than rental income, unfortunately we have!!. The broker for the new lender suggested that if we started a new limited company (company B) then that would be ok.
So my question is if company a is changed to a holding company for company b can the property assets of company a be transfered some how to company b with out incuring a large or any tax burden ?
Sorry for the long post but the back ground is required to let you know how things stand.
Many thankls inadvance for any help or guidance you can provide.
Chris
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