On the face of it, incorporation sounded an ideal solution, but when you dug into the details – the mortgage deals already held that would need to be changed, the legal implications, the potential tax bills (capital gains and stamp duty, dividend and corporation tax), plus the cost of running a company – it seemed far from ideal.

And I felt that if so many landlords were incorporating, these businesses would soon become another target for the Chancellor. Now, from April 1 next year, corporation tax will rise in stages from 19pc to 25pc for companies whose profits are more than £50,000 and less than £250,000. 

It is a significant increase and, when combined with the rise in personal tax on dividends and the higher interest rates that companies have to pay, it may call into question company property ownership, not least because when you sell a company-owned property you can’t use your personal capital gains tax-free allowance (currently £12,300).