Good afternoon,
I am new in this forum and would like to ask a question no one seems to be able to answer.
With my wife we are owning few properties in France and we are both living in the U.K, and being high tax payer (40%)
In France the way we rent and make declaration is very beneficial resulting in paying no tax there, but here in the U.K. we are loosing all the benefits of our strategy as we are paying both high taxes on top of our annual income. The difference is massive between both countries. And now the fact that the % interest of the mortgage to declare has been reduced it is even worse!
I would like to know if it would be more beneficial to putt and add properties through a new company we can create as then we will declare the income from the company rather to add these income on a self assessment where we are both on high tax rate?
If so what is the best option to consider? Otherwise any advice?
Many thanks in advance
Ben
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