Own Limited Company Managing Own BTLs

[Jazz1966]

Hi,

My wife and I have in the past bought BTLs between us.
Over the last year, we started up a limited company and have decided to buy further BTLs via the limited company.
My question is, can my limited company manage my and my wife's BTLs (i.e. those not owned by the limited company) and charge a fee for doing this per property?

I know it seems a bit strange but the limited company owes us a lot of money that we introduced as directors. This way we could take some of the money back that the limited company owes us.

If we can do this, does £50 per month per property seem reasonable?

Also, would we need a formal agreement in place and where could we get a template for the agreement?

Thanking you for your reply.

 

[WaveJumper]

One quick question did you seek the advice or your accountant and tax advisor before embarking on this road

 

[Jazz1966]

One quick question did you seek the advice or your accountant and tax advisor before embarking on this road

Hi,

Yes, my accountant told me that it would be beneficial to buy any further properties via the limited company but leave my previous ones as is.

 

[WaveJumper]

Thank goodness for that (many don't) Has they given any reason why your ltd company could not charge you personally for management fees, maintenance etc etc on your remaining properties sitting outside of the ltd.

I can understand your question but many factors are going to come into play tax wise I would have thought, ie do you have other employment etc etc so there's probably a lot of factors you need to way up. If I was you I would sit down with your accountant and run through all the best options available to you and receive the best return out of your investments.

 

[Scalloway]

If the limited company owes you money it can repay you without you having to go through any process if it has funds available. Does the company have an accountant?

 

[Jazz1966]

Thank goodness for that (many don't) Has they given any reason why your ltd company could not charge you personally for management fees, maintenance etc etc on your remaining properties sitting outside of the ltd.

I can understand your question but many factors are going to come into play tax wise I would have thought, ie do you have other employment etc etc so there's probably a lot of factors you need to way up. If I was you I would sit down with your accountant and run through all the best options available to you and receive the best return out of your investments.

Hi,

You wrote ' Has they given any reason why your ltd company could not charge you personally for management fees, maintenance etc etc on your remaining properties sitting outside of the ltd.'

That was exactly what I was asking but didn't word it quite right

 

[Jazz1966]

If the limited company owes you money it can repay you without you having to go through any process if it has funds available. Does the company have an accountant?

Hi,

Yes it does. Maybe I should have a chat with him about this

 

[WaveJumper]

I can feel a phone call to the accountant coming this morning best of luck

 

[MikeJ]

If the limited company is charging you as individuals, then you're moving more money into the ltd company?