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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