Advice for tax efficiency

[avondale55]

My father is 77, his estate is worth 2 million pounds, this consists of 3 houses which he owns outright and savings of £500k.
He rents two of the properties out and we were advised to set up a limited company to reduce tax, he being a 10% shareholder and I 90%. The two rental properties to be put in the limited company which would cost about £300k with CGT stamp duty and transfer of property etc

He will live in his own house which my understand on the current nil rate band allows him 1million with his late wifes allowance so mitigates some tax
Is this the best method to reduce tax whilst he's alive and upon his death

[ben_power]

This is a complex question and without knowing the full picture is difficult to give a straight answer.

There are many different ways to structure this but the solution depends on the bigger picture. What income does he need? What other income sources does he have? Is he dependent upon the rental income? Does he have future expenditure plans? How is his health? What is your financial situation? Do you need income? How is your health? What is your total net worth? Is he dead set on retaining the properties? If so, why?

All of those dictate the direction of travel and whilst a limited company might be an option it is impossible to tell without knowing the bigger picture.

As an experienced financial adviser I must stress the importance to seek independent financial advice. We can all learn how to build a house from YouTube but we don't, we pay for a builder to do it because they are experienced and knowledgeable. This website is great for ideas and quick questions but believe me, your question is complex and anyone who tries to answer it without all the information would be foolish.