The best SPV and limited company formation services for UK landlords in 2026

The cheapest way to set up a buy-to-let SPV is directly with Companies House for £50 online, and it takes about ten minutes; the safest way for a landlord who will borrow is to have a property accountant or a landlord-specialist agent form it, so that the SIC codes, articles and shareholding are what the lender's underwriter expects to see. GetGround bundles formation, a company bank account and accounts into one subscription; Provestor forms the company as part of its accountancy package; 1st Formations and Rapid Formations form it cheaply and quickly; Tide and other business banks form it free with an account attached. Around three-quarters of new buy-to-let purchases now go through a company, and a record 66,587 buy-to-let companies were incorporated in 2025, according to Hamptons. This guide compares seven routes on cost, what is included, whether the result is lender-ready, and what happens after incorporation, with facts checked on 5 September 2026.

Whether to incorporate at all is the prior question, answered in whether a limited company is right for UK landlords. This article starts after that decision. A special purpose vehicle is defined in our dictionary, as is a limited company.

Which route suits which landlord

What the company must contain before a lender will accept it

A buy-to-let SPV must be a non-trading company registered in England and Wales or Scotland with a property SIC code, articles that permit borrowing and granting security, no more than the number of directors and shareholders the lender allows, and a UK business bank account. Lenders check five things.

SIC code. Register 68209 (other letting and operating of own or leased real estate) as the primary code for a company that will hold and let property. 68100 (buying and selling of own real estate) is the flipping code, and several lenders including Paragon and Fleet treat a company with 68100 alone as a trader and may decline; add it only if you will also trade. 68320 (management of real estate on a fee or contract basis) is for managing other people's property. Companies House allows up to four codes. Short-let and holiday-let activity uses 55209, which most buy-to-let lenders will not accept in an SPV.

Directors and shareholders. Most lenders accept up to four directors and four shareholders; The Mortgage Works caps at two. Every director and any shareholder with 25% or more is credit-checked and gives a personal guarantee, usually unlimited. Child shareholders, non-voting share classes and overseas shareholders draw extra scrutiny.

Trading history. Lenders want a clean SPV with no other activity, which is why using an existing trading company narrows the panel sharply.

Bank account. The company needs its own account before completion; see the best bank accounts for landlords.

Registered office and confirmation. A registered office address in the UK, a confirmation statement each year, and accounts filed at Companies House whether or not the company has traded.

Which lenders accept SPVs, and on what terms, is in our comparison of the best buy-to-let mortgage lenders; company rates carry a premium of about 0.2 to 0.5 percentage points over personal rates and are stress-tested at 125%.

What we compared

We assessed each route on total cost to a lender-ready company, what is included (registered office, bank account, accounts, Corporation Tax filing), whether a property specialist checks the structure, speed, and what the landlord must still do afterwards.

The seven routes compared

Costs as published on 5 September 2026 where a price is published; GetGround and Provestor publish tiered subscriptions on their sites and the table says so rather than quoting a figure that will move. From the first rent day, August tracks the company's rent and expenses per property and produces the year-end pack the accountant files from, through its reports.

1. Companies House direct: cheapest and fastest

Companies House incorporates a private limited company online for £50, usually within 24 hours, and the form asks for the SIC codes, directors, shareholders, share capital and registered office. Use model articles unless a lender or accountant says otherwise, register 68209 as the primary code, keep the shareholding simple, and use a UK address you control as the registered office. What you do not get is anyone checking that the result matches what your lender wants, so run the structure past your broker before you file.

2. GetGround: best all-in-one for company landlords

GetGround forms the company, opens a company bank account inside its platform, files the accounts, Confirmation Statement and Corporation Tax return, and handles investor and shareholder documents, on a subscription. It is built only for property companies, so the SIC codes and articles are lender-standard by default, and it has become the route brokers most often name. The trade-off is that the accounts function is a platform rather than a named accountant, and the subscription continues for as long as the company exists; accountants who bundle formation with ongoing accounts are compared in the best accountants for landlords.

3. Provestor: best with a property accountant from day one

Provestor forms the company as the first step of its limited company package, which then covers accounts, Corporation Tax, MTD record-keeping and advice from property tax specialists. It suits a landlord who wants the formation checked by the same people who will file the accounts and model the next purchase.

4. 1st Formations and Rapid Formations: cheapest agent route

The large formation agents incorporate for roughly the Companies House fee plus a small margin, with optional registered office and director service addresses that keep your home address off the public register, and bank account referrals. They form thousands of companies a week and will not check that yours is lender-ready. They suit a landlord who wants a registered office address and speed but has already agreed the structure with a broker.

5. Tide: best if the account comes first

Tide and several other business banks form the company free when you open an account, which suits a landlord whose priority is a working company account before completion. The formation is generic; check the SIC codes and articles yourself.

6. A property accountant: best for portfolio transfers and complex shareholdings

Moving existing property into a company is a taxed event: the company pays SDLT, including the 5% surcharge and, over £500,000, potentially the 15% company rate unless the rental-business relief applies, and the individual may face capital gains tax unless incorporation relief is available. The tax charges on moving existing property into a company are covered under property incorporation tax, and the surcharge and the 15% company rate over £500,000 are in stamp duty for landlords. A property accountant models all of it on your figures before the company is formed, which is the only order that works.

What setting up an SPV costs

Formation costs £50 direct, £50 to £150 through an agent with a registered office address, and £200 to £500 through a property accountant; GetGround and Provestor fold formation into subscriptions that run to a few hundred pounds a year. After incorporation, budget for the annual Confirmation Statement fee, accounts and a Corporation Tax return (£500 to £1,500 a year at a specialist), a company bank account, and the 0.2 to 0.5 percentage point mortgage premium. Corporation Tax is 19% on profits up to £50,000 and 25% above £250,000 with marginal relief between (gov.uk). Company-held dwellings worth more than £500,000 fall within the Annual Tax on Enveloped Dwellings unless the let-property relief is claimed each year, which an accountant should diarise. Run the purchase through the stamp duty calculator with the company rate selected.

Should I use my existing trading company?

No, unless your lender has confirmed in writing that it will lend to it. Most buy-to-let lenders lend only to a clean SPV, and those that accept trading companies charge more and ask for more. Form a separate property company even if you already run another business; the two can share directors.

From working with landlords across the UK who have incorporated, the declined applications we hear about are almost never about the landlord's finances. They are about a company formed with 68100 as the only SIC code, articles that prohibit granting security, or a shareholding that includes a minor. All three are ten-minute fixes before formation and weeks of delay after it.

After incorporation

A company purchase needs a conveyancer who handles them routinely; see the best conveyancers for buy-to-let landlords. Companies are outside MTD for Income Tax but file under Corporation Tax; see MTD for limited companies. From completion, every rent receipt and every cost belongs to the company, and August's expense tracking keeps them categorised per property so the first set of company accounts is a review rather than a reconstruction.

Frequently asked questions

How do I set up an SPV for buy to let?

Incorporate a private limited company at Companies House with SIC code 68209 as the primary code, model articles, up to four directors and shareholders, and a UK registered office; open a company bank account; then apply for the mortgage with personal guarantees from the directors. Companies House charges £50 online; agents and accountants charge more and check the structure.

Which SIC code should a buy-to-let SPV use?

68209 for holding and letting property. Add 68100 only if you will also buy and sell, because some lenders treat 68100 alone as trading. 68320 is for managing property for others and 55209 for short lets, which most buy-to-let lenders will not accept.

Is GetGround worth it?

For a landlord who wants formation, a company account and the annual filings in one subscription without appointing an accountant, yes. For a landlord who already has a property accountant, the accountant will form the company for less and file the same returns.

Do I need August to run a property company?

No. You need the company formed correctly and its accounts filed. August keeps the company's rent and expenses per property and produces the pack the accountant or GetGround files from. You can start for free.

This article is general information, not legal, tax or financial advice. Company formation and lender criteria change; confirm with your broker and accountant before incorporating.