MONEY - Business Account / Offset Mortgage

[Dante]

The mortgage lender quite happily will (as long as you're willing to pull it out of a business account...).

IMHO -Anything you can do to improve your own personal situation and ensure you don't need to rely on the state for anything as you age is a good thing - certainly in this case when no-one loses out.

Thats my story and i'm sticking to it anyway.

[ratewhore]

Originally Posted by expat

He was wrong.

Oh - OK. Shame I didn't have you as my barrister.

Dante, without looking, can I assume that is in America?

[Dante]

I couldn't actually browse the link as it's blocked by my web filter, so i'm saving it for 'later'.

But yes, i too think it's pretty safe to assume it's the good old US of A - probably down south somewhere.

[expat]

Originally Posted by Dante

I couldn't actually browse the link as it's blocked by my web filter, so i'm saving it for 'later'.

But yes, i too think it's pretty safe to assume it's the good old US of A - probably down south somewhere.

Not the sort of thing that a Tory MP would be caught dead doing, then?

[blacjac]

Originally Posted by Dante

I understand all the risks, but (devils advocate) are the HMRC really going to care what happens to the money in your business account as long as you pay your tax on time? No, it isn't MY money, it's my Ltd Co's money, but I earned it and should have the right to make it work for me (maybe not the VAT!).

Erm, yes.

Because the minute you benefit from the company's money, that benefit is taxable.

You say in a later post you took the money out of the business account to do it. I hope you declared it as a directors loan, or a dividend or salary, otherwise it's theft, or possibly embezzlement (sp?).

[BolshieBastard]

Look, unless you've got money held by Dodgey Bank your money is safe ffs!

Some people just want to talk doom and gloom.