We will be completing on a property in South Africa (SA), and I need to understand how best to structure things and plan for our tax liabilities. We are UK residents with a property in the UK, too. Both properties are owned jointly. Our SA purchase has been financed by a remortgage on our UK property. Our SA house will be a short-term let managed by an agent 

Arthur Weller replies:  

If, taking into account your gross rental income, you will be basic-rate taxpayers (i.e., not exceeding the higher-rate tax threshold), you should buy it in your own personal names, in a straightforward way. You would not be affected by the Section 24 loan interest relief rules, which are only in point if the gross rental income will 'push you into higher rates'. You could perhaps consider buying through a limited company. However, the mortgage is in your own personal names, secured on your UK property, which I presume you own personally. Speak to a tax adviser about borrowing personally, then lending to a limited company, claiming 'allowable interest'.