Freelance BBS: Taxes - Board is open

Any tax questions? Post them here and we'll try to get them answered.

I have made an investment, over the last four years in a small property portfolio.My wife and I share the properties profit and loss equally.
I have a full time job and of course pay PAYE. This year I have incurred a income tax bill of £800.00 for my profit earned on the investments.
My wife had a nil return.
I have been adviced that I could start a property company and get better tax benefits i.e £10,000 tax free each financial year.Any advice?