Incorporating residential property

Are you thinking about incorporating your residential property portfolio? Due to high tax rates on rental profits and fewer benefits, such as the deductibility of financial costs, the answer may be yes.

Plus, with the recent reduction in CGT on residential properties from 28% to 24% (effective 6 April 2024), there may be even more of an interest.

In this episode, Leonora and Mike explore the key tax differences between holding residential property in your own name versus a corporate structure, as well as:

• The taxes due on incorporating a business into a company,
• Succession planning options and IHT implications for owning a property portfolio personally versus as a corporate, and
• Potential pitfalls to be aware of.