its a lot of hassle, but one way is to:|
Register a company in your name, transfer owenership of the property to the company. Then get a buy to let mortgage as the company, when you get rent you can write off the amount that you have to pay as mortgage as costs, and you dont have to pay any income/corporation tax on that part. Then pay yourself then remaining amount as employee pay and you pay income tax on that bit., leaving no money for the companys profit which means no corparation tax.
effectivly you dont have to pay income tax on the amount of the mortgage, but this is of no use if you already have a mortgage you like and dont want to involve accountants etc
#1757927, By avtar Anyone know about tax from renting property?
avtar 94 posts
Seen 1 year ago
Registered 14 years ago