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Sunday 18th October 2015
Total Number of Property118
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2
19:02 PM, 19th October 2015, About 9 years ago
Reply to the comment left by "Tony Atkins" at "19/10/2015 - 15:32
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21:28 PM, 18th October 2015, About 9 years ago
Hi Tony,
I recently purchased a flat - big refurb, my initial plan was a refurb then btl but the recent tax change has made me reconsider.
I purchased the property in cash 115k, the property lends itself to converting to two separate flats, it's over two floors. Conversion and new lease costs will be around 40k.
The freeholder has agreed, I have an architect producing drawings.
Being a higher rate tax payer, I believe i would have to pay 40% as basically I now intend to flip it.
What options do I have, could I put the property into a limited company, when I eventually sell pay myself back the initial purchase cost and keep the profit in the company - paying 20% tax?... Read More