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Can you transfer it to your ownership for free then start renting it back to your company? Probably
(golf club, Evoque threads here I come)
duncs-
Probably. but I am too lazy to sort out things like that, and it gets too close to tax avoidance, which I try and stay away from. I don't even claim any household bills despite working from home for the last 5 years...
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Can you transfer it to your ownership for free then start renting it back to your company? Probably
- Transfer it to a child
- Get the company to rent it off the child.
- Company pays less Corporation Tax, child doesn't earn enough to pay income tax.
- ...
- Vote Tory
- Transfer it to a child
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Disposal of assets would be assumed at market rates in any case.
You'd have to pay income tax on the rental.
And it might mean business rates would kick in.
As ever - IANAC, and have gone out of my way to choose my own accountant that views these things pretty conservatively.
Sam_w
Greenbank
NotThamesWater
Yes. Mine is 5 years old, so not sure what happens on the books in a couple of years when it has officially been devalued to zero, i'm sure my accountant will tell me!