In 1794, Napoleon, looking across the Channel at Britain preparing for war, gave a Gallic shrug and sneered,
“The English are a nation of shopkeepers.”
He based this on the (Scottish) economist Adam Smith, who had written about a government “influenced by shopkeepers” and constrained by their cautious ambitions.
But if Napoleon had stepped into a time machine and fast-forwarded 230 years to 2024, he would have seen something completely different.
(No, this is not a post about potholes—although, frankly, would the roads of 1794 have been much worse?)
🔷 Welcome to the Era of Buy-to-Let Britain
According to research by Hamptons, Napoleon would see a nation of landlords, not shopkeepers.
Companies House data shows there are now more limited companies registered to hold buy-to-let properties than any other type of business—four times as many as takeaways or hairdressers.
There are no statistics on how many limited companies own actual shops… but we all see the empty High Streets.
🔷 Why Have Landlords Gone Corporate?
The answer, of course, is tax.
Property investors have adapted to the tax system, and it’s a perfect example of how upstanding citizens will always alter their behaviour to legally reduce their tax liabilities—bravo, the great British taxpayer!
Holding property in a limited company can offer:
✅ Full mortgage interest relief (not just 20%)
✅ Lower corporation tax rates (compared to higher-rate income tax)
✅ Tax only on withdrawn profits (not on those reinvested)
✅ Better inheritance tax planning (e.g., gifting shares rather than property)
That said, there are considerations when selling, particularly when extracting capital gains from a company. But with good planning, this can be approached like pension planning—structured for the long term.
Most landlords we work with keep their existing portfolio in personal names (due to the costs of transferring), but buy new properties via a company.
At Avant Advisory, we can help optimise the tax position whatever your property structure.
🔷 A Fun Question for You…
If Napoleon jumped back into his time machine and fast-forwarded another 230 years to 2254, what would he see?