In general, what is the main difference in costs, maintenance, etc; pros and cons, for example in the UK for a G-reg?
I heard that the syndicate is an unlimited company (is that true?).
Also that there could be no more than 20 syndicate members (and could be more than 20 company owners).
Thanks!
Do you mean sole owner versus syndicate?
A sole owner, or a syndicate, can be a limited company.
I mean a limited company that is owned by many people owns an aircraft vs a syndicate.
What is the difference if any?
I can’t really comment on tax (personal or VAT), but on will comment on the difference in liability.
So, in a nutshell, the limited company protects you from any liability as an operator which is not covered by insurance and exceeds the value of the company asset (the aircraft).
Peter, so if I understood it correctly, the pilots are not going to save anything if the a/c is owned through a company.
And it does provide liability protection, right? I mean if the a/c causes some loss, then liability cannot be transferred to all owners?
And what about the maintenance regime? No difference? Any extract checks required?
arj1 wrote:
And what about the maintenance regime? No difference? Any extract checks required?
For EASA aircraft, at least, the maintenance regime is determined by the kind of operation, not the kind of owner.
Airborne_Again wrote:
For EASA aircraft, at least, the maintenance regime is determined by the kind of operation, not the kind of owner.
So, if aircraft is used for private flying, then there is no difference?
arj1 wrote:
So, if aircraft is used for private flying, then there is no difference?
There shouldn’t be, no.
The UK syndicate has a max of 20 members. Maintenance is unaffected.
But there are advantages. Hangarage, capital tied up, maintenance cost, and insurance are spread. There is little extra charge for insurance.
There can be advantages in being able to call on others to help.
I’ve been in a Jodel DR1050 syndicate for 29+ years, happily.
I’m also 75% owner in a two person Bolkow Junior syndicate, which formed 14 months ago as a four group, and was very toxic until I bought two out. Lawyer involved, one guy got so uptight he was sacked. Only 0.5 hours total flown in 9 months by the two I bought out.