Briefing - Tax aspects of buy to let residential property

Please contact us to discuss any of the matters raised in this newsletter

Introduction

The issue of whether to run your business as a company, a sole trade or a partnership continues to be very much a 'hot topic' of the moment. This is due to a combination of changes to the tax system over recent years. These have generally combined low rates of corporation tax with no national insurance on dividends. This has meant that many self employed businesses were transferred into companies to obtain tax savings. In March 2007 Gordon Brown held his last Budget and announced a series of changes to the tax system over the next three years.

In this briefing we summarise the relevant tax changes and examine whether it is still more attractive to continue to operate your business through a company rather than self employment.

This information is intended for guidance purposes only, and you should always seek professional advice before taking any action. Please contact us for further information relating specifically to your business.

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