Creating my own property management company
With 5 properties in zone2 London now, I'm considering setting up my own property management company in order to:
a) re-direct management fee income into the PM company in order keep my net income below the 40% bracket. This is helpful as I can then sell one or two properties at 20% CGT rate
b) tax efficiencies from paying myself in dividends
c) obtain better trade discounts when buying materials for future developments
Has anyone done this or is thinking about it?
I'm wondering if there are any other tax benefits - e.g. ability to offset a broader set of business expenses such as IT / Comms equipment, travel, subscriptions, VAT benefits when procuring materials?
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