Property & Companies

Does anyone know what the advantages are of setting up a limited company for your property business and/or what are the disadvantages of transferring the property to a company at a later date if indeed this is possible?
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Company will have to prepare full statutory accounts and CT return; individual just has to complete land and property pages on tax return.
Individual has CGT allowances on sale of property, company doesn't. But company may pay a lower rate of tax if the individual is a higher rate taxpayer.