How to GROW Your Current Property Portfolio in 2024 | Simon Zutshi

[@andygallagher8388]

Thanks Simon - look forward to part 2!

[@carl7445]

Hi Simon, I recently bought my first buy to let. It needs work so I am living at the property whilst I do the work. I plan to up the value and rent it out in a year. I plan to use the profit to buy another. An accountant said keeping the first one in my own name would make me more cashflow. But I am thinking it would be better in a Ltd co. So I can have my son's name on the house and avoid inheritence tax one day. Would you advise personal name or Ltd co. I plan to keep getting more and more houses every year. Thanks in advance

[@johnporcella2375]

Once you start to include a full year's future rent, would you be a Basic Rate Income Tax payer? If so, then you should be able to claim back all of the mortgage interest. Then, keeping that property in your name would make life easier. then, for future properties you would need to assess your tax situation and then decide whether it is better to buy future properties in your name or not. Mortgages tend to be dearer for limited companies and the bookkeeping and accountancy work is more expensive too.

[@goldorchids]

Better to ask with a tax adviser.