Do we need a Ltd Co?

[D4D]

OK, I'm after some advice from you knowledgeable bunch.

I'm a higher rate tax payer on self assessment, my wife is basic rate but has a small business on the side and completes a self, assessment for this.

We have just inherited a house due to a family bereavement and intend to rent it out to a friend.

Having a quick Google search hints that we would be better off setting up a Ltd company. Anyone have any advice on this.

Thanks in advance

[Eric Mc]

To do what?

[Helicopter123]

D4D said:

OK, I'm after some advice from you knowledgeable bunch.

I'm a higher rate tax payer on self assessment, my wife is basic rate but has a small business on the side and completes a self, assessment for this.

We have just inherited a house due to a family bereavement and intend to rent it out to a friend.

Having a quick Google search hints that we would be better off setting up a Ltd company. Anyone have any advice on this.

Thanks in advance

What has your accountant advised?

[Sir Bagalot]

My advice?

Do not rent to a friend!