Hi,
Just thinking out aloud here but i have a very large garden and i have permission to build an office within the garden which i will use for my business. I currently rent offices so when ready the plan will be to close them and move into the new ones at home and i was going to charge rent for the use of them.
My question is to ask if there is anyway the company can pay for the offices to be built with no tax implication to myself. I know if i was to take a loan from the company over say 5 years there is a tax liability to myself and the company which i don’t want to do. What i was wondering is if the company could pay for the building works and in return i wouldn’t charge any rent for the period equivalent to the build cost, approx. 100k. I am thinking £1500 / month rent so over approx. 5 years he build would pay for itself.
I understand any rent paid to me is taxable via self assessment, what i want to avoid is additional tax if i can get the company to pay for it rather than i use personal funds of 100k and then get it back slowly via rent.
I hope that makes sense, any suggestions would be appreciated, just want to have some ideas before i go to my own accountant. Thanks
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