Hi, I had a question on the transfer of residential BTL properties that I hold, to a newly set up limited company. The 3 properties are valued in total at c.£200k and all mortgage free.
I was looking to take advantage of a free draw down against a director's loan account but my accountant advised that I might not be able to do that as a Share Premium account would need to be set up, and would stop me from drawing down rental profits tax free against a £200k director's loan account. I just wondered whether anyone has any experience on this and if my accountant's advise is indeed correct.
Dean
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