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I agree with the faff part - I started doing this for my garden office, but stopped. Even though the faff would have been worth it (to the tune of a few thousand), my company accountant warned me right off having my ltd own the office, as it could significantly impact my personal tax liability in the future (to the tune of tens of thousands).
Having trade accounts was still useful, though, as the rates were a lot better with some companies.
I'm not sure why you'd not be paying VAT?