CRAIGFIN

A mate of mine has owned a number of properties for the last few years now and has been advised by his financial guru to set himself up in business as a Sole Trader (I believe a Ltd Company is the other option).
He has been looking at business accounts that have no overheads / fees and I believe the tax costs are less, Corporation tax as opposed to Capital Gains Tax. The whole issue seems too good to be true with many Pros and no Cons that we can see.

My question is, do any landlords on here do this? If so, are there any cons / pitfalls with this setup?

Cheers,

Craig.

CRAIGFIN

After a little bit of research it seems my mate had the wrong end of the stick about the tax issue. There seems little difference for the tax sides of things.

Any landlords gone down this route anyway?