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Limited liability Partnership for existing properties owned

Summary of strategy

Assuming you want to create a family business / portfolio of properties whilst having your eye on the tax efficiency of the transactions, this is a solution to consider.


Your likely position is that at present you have several properties that you own personally, and the aim is to involve your family in the management of them, hence a revised approach.


You may therefore consider forming an LLP to house the assets and add someone as partner to the new entity.


Assuming we can satisfy HMRC that this transaction is for business reasons, the transfer of assets most likely be free of SDLT and CGT. However under the anti-avoidance rules HMRC may still challenge the approach. You would therefore need to understand and confirm that such a challenge does not concern you.



mortgages to be

part of the LLP

Existing portfolio

held in your name

Move properties

to LLP

Next steps

  • Contact the lenders to ascertain any costs for moving mortgages and also whether they are happy to lend to an llp

  • Set up the LLP = Our fees for set up would be £250 + VAT

  • Set up an accounting system + receipt bank and run individual P&L’s for each property. Our monthly fees for this service including tax returns would be £200 + VAT

Included in our service

  • Full set up of company and Accounting system

  • Book keeping

  • All accounting software costs

  • Ongoing Accounting, including advice and guidance

  • End of year returns

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