Buying a commercial office

D

Dro123

Registered User
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Hello all,

I own a small business with another (I have smaller shareholding 1/3) and are currently renting a premises. We have cash in the bank and have found an office that we can purchase using these funds. Our accountant has since advised that it is better to buy it personally ourselves for tax reasons rather than use business funds.
I am reluctant to do as as (a) it would wipe out all of my savings, which i'm hoping to use in the short term to downsize or clear my mortgage and (b) i have already lost badly from investing in Irish property as bought our house in 2007 so very risk averse at the moment.

Any advice would be most welcome. Thanks in advance.
 
Yeah buy it personally and get the business to pay your rent seems to be common. Or get a mortgage for it rather than use all your cash?
I don't know the ins and out of it but I know plenty of cases and it makes sense to me.
 
Business funds/personal funds!!! Is the business incorporated? If not I don't understand the distinction between business and personal funds.
 
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