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HMO's definitely have a good yield. Whatever the property, where ever it is, the gross return is usually the same - other wise the big funds would come in and drive prices up to achieve that. So buy in London, yield almost non-existent but in Liverpool the yields are high but add to it capital growth and you see the opposite. So HMO's have a good yield but you need to add in to the equation other factors such as the impact on capital value - depending on whether Article 4 applies and the demand for room tenancies - will drive a view as to whether a property will be more or less valuable as an HMO. The usual view is less valuable. You should also consider the costs of managing.
From how you answered my questions I would suggest you look nearby your family so you can kill two birds with one stone. This will help flush out budget, rental yields and required leverage.
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)
So I've been giving this some thought and I think I would like to buy a flat/house in Manchester/Liverpool cash and then let it out for a couple years before possibly moving there to live rent free.
Should I buy the house/flat in a company or trust rather than my own name?
You need to be careful living in a property owned by your company rent free - there are tax implications that you need to investigate.
Can you expand a bit more on this please? Are you saying I need to pay tax if I live in a property that I own in a company? Any info,books or links would be appreciated.
I was looking at Carl Bayley's books on Amazon called:
Has anyone read/used them? Are they any good?
Thanks for the help!
I think you need to understand if a property is owned in a company it’s not your property
you may be a director of the company but. It’s not your property
and if you live in it you will be taxed
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Spot on, a "benefit in kind" not unlike taxation on a company car.
It astounds me at times how folk just think Putting property into a ltd co is the same as personal ownership
it’s a very different kettle of fish and needs careful planning
Thanks for the helpful replies!
Sorry to ask a daft question but where can I learn or research about the differences between owning property in my name or a companies name and what the tax differences are?
I've done some Google foo but I think I have overwhelmed myself with all the options and am getting confused in all this. I'm trying to approach this from a long term point of view so I'd hate to buy a place in my name NOW and then find out 3 years later that I could kick myself for not purchasing it in a companies name for reason x,y and z.
where can I learn or research about the differences between owning property in my name or a companies name and what the tax differences are?
Definitely speak to your accountant on this one.
Here’s the views of a landlord we have been working with recently https://www.facebook.com/groups/10045353...545873362/
Manchester based investor. I buy, sell, renovate and rent investment property in East/North Manchester email: firstname.lastname@example.org Call: 0161 681 3724