UK Limited Company

[Windy]

Hi

We are just contemplating buying a second property to let.

As this is getting to more like a business and less like a hobby I am wondering whether there would be any wisdom / advantage to forming a limited company.

Any thoughts welcomed,

[tree-peony]

personally, at the moment, I wouldn't. Accounting charges will be higher for a start. There's now no profit allowance for limited companies (it used to be the first 10K was tax free) and tbh there's not really any protection benefit these days.

[Windy]

Thanks TP

there's not really any protection benefit these days

I suppose that that was what I really wondering about. That nightmare scenario of a guest having an accident and suing you ... But I suppose you'd be still be liable as a company director if you were adjudged to be at fault.

[tree-peony]

exactly!