Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Property renovation

  • 03-04-2013 11:04pm
    #1
    12_Grand
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi
    I`m currently lucky enough to be in a good job and I`m in a position that i would like to buy and renovate a property with the Aim of moving it on for a profit then doing the same again.
    I will buy the property in question and do the work most of it myself with maybe only a small bit of sub contracting done. I aim to keep a set of records of the expenses for the work.
    Now the million dollar question is, what is the most Tax efficient way of doing this?
    Would I be better off setting up a limited co of sort or can I set up as a sole trader for this? I`m currently in a PAYE job, well paid which I have no intention of giving up.


Comments

  • #2
    howardmarks
    Registered Users, Registered Users 2 Posts: 641 ✭✭✭howardmarks


    Setting aside the business model being a few years too late to be worthwhile on a small scale.

    Individual - cgt on profit @30%
    Business/company- more scope for reinvesting profit.

    Property is a tax minefield. Use some of your money from your well paid job to engage a good tax consultant


This discussion has been closed.
Advertisement