Hi all,
I am about to register as a limited company to pursue my property investment career, taking on some corporate lets and one assisted sale.
The assisted sale is a small 2 bed property which we had agreed on the asking price, how we would fund the renovation, and the percentage split on any profits above the asking price (minus the renovation costs).
However, the gentleman proposed an alternative today, saying I could live in the property and do the work at my own expense, while paying for the property in installments over a 3-5 year period. There maybe some rental costs during the period, I need to clarify.
This got me thinking, could I purchased this over the 3-5 year period under my limited company, by using my annual takings/profits without incurring tax on those profits? Only incurring tax when/if I decided to sell the property (once owned outright) at a later date?
Unless I sold to reinvest into the company by buying more property under the limited company?
Or would I end up getting hit with double tax somewhere?
Thanks
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