The interviewer is great in this video with asking concise questions and asking for clarification for the benefit of those are inexperienced in property management.
Helpful video thanks. I'm sure I read though that in 2023 corporation tax is increasing from 19 percent to 25? Also from what I gather from your video small investors with only one or two properties in the basic rate band of tax wouldn't benefit from setting up a limited company? thanks
Hi! Yes, that is right on both counts! Corporation Tax increased in April 2023 to 25% with a Small Profits rate of 19% for businesses earning under £50k per year. Between £50k and £250k there is a marginal relief in place. A limited company isn't always the right choice for everyone - those with a small portfolio in the Basic Rate tax band may be better off as they are. However, you can own a mix of company and personally owned property, so could buy future properties in a limited company. Hope this helps!
I’m about to create a LTD company to buy property for BTL. Can you advise me that when incorporating the company WHAT IS the correct wording of the model articles have been incorporated regarding a sole director
Hi thanks for your question. This is quite a complex area and your articles should reflect how your business and share classes are created. We advise you get professional assistance and tax advice on this. 😊
Hi Cyril, Thanks for your comment! If you need property tax advice you can book a consultation using the link below - please mention in the notes when booking if you would like a consultation with Nadeem specifically. Hope this helps! 🙂 www.provestor.co.uk/tour/tax-consultations
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The interviewer is great in this video with asking concise questions and asking for clarification for the benefit of those are inexperienced in property management.
Thank you for your kind words Darryl. 😊
Brilliant interview thanks
thank you! very professional
Thank you very much for the great advice!
Helpful video thanks. I'm sure I read though that in 2023 corporation tax is increasing from 19 percent to 25? Also from what I gather from your video small investors with only one or two properties in the basic rate band of tax wouldn't benefit from setting up a limited company? thanks
Hi! Yes, that is right on both counts!
Corporation Tax increased in April 2023 to 25% with a Small Profits rate of 19% for businesses earning under £50k per year. Between £50k and £250k there is a marginal relief in place.
A limited company isn't always the right choice for everyone - those with a small portfolio in the Basic Rate tax band may be better off as they are. However, you can own a mix of company and personally owned property, so could buy future properties in a limited company. Hope this helps!
I’m about to create a LTD company to buy property for BTL. Can you advise me that when incorporating the company WHAT IS the correct wording of the model articles have been incorporated regarding a sole director
Hi thanks for your question. This is quite a complex area and your articles should reflect how your business and share classes are created. We advise you get professional assistance and tax advice on this. 😊
How do we contact Nadeem
Hi Cyril,
Thanks for your comment! If you need property tax advice you can book a consultation using the link below - please mention in the notes when booking if you would like a consultation with Nadeem specifically.
Hope this helps! 🙂
www.provestor.co.uk/tour/tax-consultations
What's your company called, I'd like to give you a call. Additionally, it might be worth including some text within the video.
Hi Saied, thank you for your feedback! We're called Provestor, if you'd like to find out more you can visit our website at www.provestor.co.uk/ 😊
👍
Hi, under FRS105 on disposal of a property do we just show the capital gain as other income in the profit and loss account?
As a beginner where do i start from
What about CGT
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Thank you very much for the great advice!
You're welcome Matt. Glad it was helpful! 🙂
Top advice very concisely put!
Thank you Julian! Hope it was helpful 🙂