Crosswords1 min ago
Property Company???
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I am a property developer paying income tax on profits made (as you do...). Is there an advantage to setting up a property company money-wise? There's just me doing it as a sole trader at present. Thanks :-)
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There are lots of tax advantages available if you trade through a limited company - there are too numerous to mention here, but, for instance, by being paid dividends rather than drawing a salary you can reduce your higher rate tax bill from 40% to 32.5%. Corporation tax need not be a huge liability as this can be reduced by paying dividends. Also, should the business fail, your personal assets are not at risk, which they are if you trade as a sole trader.
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