This week, Shaz discusses the process of incorporating your property portfolio, looking at both the benefits and drawbacks of doing so.

Whether your portfolio is an existing one, or starting from scratch with a limited company, Shaz provides a helpful guide that’ll give you the knowledge to make the best decisions! 

 

KEY TAKEAWAYS

• Even if you only have one or two properties in your portfolio, it could be worth running them through a limited company, as opposed to running them through your name. It’ll depend on a few factors, but you should definitely investigate.

• When you set up a limited company, you need a shareholder and a director. Above and beyond that, you have ongoing access to the income.

• An additional benefit of having a limited company is that you can sell shares, which makes it more attractive to sell later on.

• If you can demonstrate that a partnership exists between you and your spouse, either through tax returns or the names on the mortgage, you can then look to move your properties into a limited company.

• Limited companies have limited liability, so if anything does go wrong, then it is the company that’s liable and not you!

• If you have unused losses in your partnership business, use them up before you transfer the properties into a limited company, as they’ll be lost if you don’t!

 

BEST MOMENTS

‘You have to decide which option works best for you’

‘How do I take that money out?’

‘If you don’t use it, you’ll lose it’

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

 

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to main stream media outlets.

 

You can find Shaz on:

• Facebook
• LinkedIn
• Instagram
• YouTube.