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Where Taxpayers and Advisers Meet

Mitigate tax on 3 BTL properties

Salise
Posts:1
Joined:Tue Jul 16, 2024 10:57 am
Mitigate tax on 3 BTL properties

Postby Salise » Tue Jul 16, 2024 11:07 am

Hi,

Need advice on how to mitigate my potential tax burden.

Situation:
I currently own a shared ownership in zone 1 London however will buy out the remaining percentage when my fixed term expires with my wife next year. We want to convert to a BTL mortgage.

Additionally I’m due to inherit my parents house and want to convert this into two flats. The house is mortgage free

So in the space of 12 months I’ll own 3 flats. What’s the best way to mitigate my tax burden? Note: we’re both already a high rate tax payers

Is it to transfer them all into a limited company (I’m aware of potential costs associated), or can I set up a property management company and have the rent paid into that? Or any other advice will help.

Thanks

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