Does below make sense?
I was planning to use my company's funds for the purchase.
I've had a word with my advisor and he has warned me of severe tax implications for the directors in that they would be deemed to have a BIK of 1/52nd of the property value for any weeks it is not let out. So at £200k that would be around £17k PA if it was un-let for 12 weeks.
Tax Implications Using Company Funds for Purchase
Tax Implications Using Company Funds for Purchase
It is better to remain quiet and have one think you are stupid, than to open your mouth and remove all doubt....
The biggest mistake we make in life is thinking we have time.
The biggest mistake we make in life is thinking we have time.