UK rental property holding in UK/Irish company

C

Chewbacca

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Not sure if this the right place to post this one. I hold a number of UK rental property most held personally (with mortgages) and two in a UK limited company (no mortgages). I'm thinking I should transfer these into a company and most likely the existing UK company as they will need re-mortgaging etc. I was just wondering if anyone had experience of this and whether it was possible to hold in an Irish registered company, I suspect UK lenders might not lend, or be very limited in those that would lend to an Irish registered company . Previously UK resident but returned to Ireland and intending to remain here.
 
T McGibney said:
Is this just an idea or have you received advice to this effect?

It frankly sounds like a crazy idea but perhaps may conceivably make sense as part of a wider plan.
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It's not crazy from a UK perspective given phased withdrawal of mortgage interest relief in last few years as this has significantly increased personal tax liabilities in holding UK rental properties but there are obviously multiple considerations in deciding to transfer or buy future investments personally or via limited company etc.
 
Chewbacca said:
It's not crazy from a UK perspective given phased withdrawal of mortgage interest relief in last few years as this has significantly increased personal tax liabilities in holding UK rental properties but there are obviously multiple considerations in deciding to transfer or buy future investments personally or via limited company etc.
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You'll probably be best off getting proper professional advice from someone who has a strong awareness of the respective tax treatments in both jurisdictions and how they interact with each other. Also bear in mind that if you are resident here and controlling a foreign registered company from here, that company may well be regarded as Irish-resident for tax purposes.
 
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