What would be the easiest and most tax-efficient way to incorporate two properties in Manchester that we let out? I appreciate that this is not straightforward and may need some tailored advice. 

Arthur Weller replies:  

Incorporating properties will: (a) trigger capital gains tax (CGT) for the individuals; (b) trigger stamp duty land tax (SDLT) for the company based on at least the market value of the properties; and (c) will cause an issue with the mortgage lenders, if there are mortgages on these properties. If the facts of your situation mean that you are a business, then maybe you can claim incorporation relief from CGT. If you are a 'qualifying partnership', maybe the company can claim partnership relief from SDLT. You are strongly advised to speak to a tax adviser.