BobbyFowler
Registered User
- Messages
- 328
money man said:whoever you do your business banking with may give you advice. my bank have offered me a free consultation with an accountant who will advise me how to extract funds from the company in a tax efficient manner.
money man said:whoever you do your business banking with may give you advice. my bank have offered me a free consultation with an accountant who will advise me how to extract funds from the company in a tax efficient manner.
BobbyFowler said:I've got my own Ltd Company. The two directors are myself and my partner. It's just the two of us in the business. We're thinking of investing in a property and I'm wondering if there's any advantages of buying a residential property through the company, taking into account that we're the sole directors.
CapitalCCC said:It may be more tax efficient to set-up a Self-Administered Pension Plan and use that to buy the proeprty rather than to use a pension mortgage.
The main advantages of self-administered route are:
- No CGT on disposal of property
- No income tax on rental income generated by property
- Full tax relief on capital AND interest repayments
CapitalCCC said:There is really just one condition:
- The director (including any connected parties of the director such as partner, children etc...) and the company may under no circumstances use the property itself - so if it is a true "investment proeprty" then absolutely no problem, if the director or company want to use property for their own use, then forget it
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