Implementing a property to belong to a buy-to-let company is very straightforward, and it will not break the bank either! As a landlord you can register through the governmental business directory ‘Companies House’ on the website, or you can send the form back in person. The whole application process costs less than £15.
What Will Be Asked Of You
Some of the details you’ll need to provide include the name of the company, and its HQ address (this can be your home address). During the registration process, you’ll be asked about who the directors are, and about anyone who owns shares of your company (or in this case, property). There should be at least one director, and the rest is up to you, regarding your colleague build. If someone owns more than ¼ worth of shares in the property/company, they should be registered as a person with significant control - (they still fall under the director.) You will need to provide the prestigious shareholder’s full name, and birthdate, along with their birth country.
When filing your property as a buy-to-let limited company, the nature of the company’s operations will be asked about. You can describe it in one of the following ways:
It may fall under the 68209 bracket (other rentals and operations of property on a lease or owned outright), 68100 (sales and purchases of property), and finally, 68320 (managing a property contractually). After this has been completed, don’t forget to register for corporation tax within the first 90 days, and open a canny corporate bank account.