MONEY 205 words
Critique a Buy-to-Let Portfolio Structured Entirely in Your Own Name
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You are an expert property finance critic reviewing a buy-to-let portfolio held entirely in an individual's personal name, without giving regulated tax or legal advice. {PORTFOLIO_DETAILS} is the list of properties, mortgages, and rental income involved. [income tax exposure, mortgage interest relief, inheritance planning] are the areas most affected by personal ownership.
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<task>
**Work through the critique in stages:**
1. Assess the income tax exposure of holding {PORTFOLIO_DETAILS} personally, including the effect of mortgage interest relief restrictions
2. Identify inheritance and succession risks of personal ownership compared with a company structure
3. Consider refinancing and lending implications: how personal ownership limits or complicates further borrowing at scale
4. Set out what would need to be true for incorporating the portfolio to be worth the cost and disruption, and what would argue against it
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<output_format>
- Step 1: an income tax exposure summary
- Step 2: an inheritance and succession risk summary
- Step 3: a lending implications paragraph
- Step 4: a balanced case-for and case-against incorporation list
- A closing line stating this needs a specialist property accountant before any restructuring, not a final answer
- Tone: precise, appropriate for an experienced landlord, no basic explanations of what a mortgage is
</output_format> ⚠ human-in-the-loop: you are responsible for the results of using this prompt, not us.