buying an office

[paulgthomson]

Hi All,

I am about to finish a contract and it looks like I will be working from home for a while. Problem is the lack of space.

An opportunity has arisen to buy a barge nearby which I could use as a floating office. Crazy idea? How does the tax man view such purchases through a Ltd company?

Thanks,

Paul

[Sockpuppet]

Is it an office or is it a barn? I suppose you could covert it which would be allowed.

You would however have to use it as an office only. If you used it personally you would have to pay market rate rent on it. When you sell it you pay CGT on it as well.

[Diver]

Is it an office or is it a barn? I suppose you could covert it which would be allowed.

You would however have to use it as an office only. If you used it personally you would have to pay market rate rent on it. When you sell it you pay CGT on it as well.

it's a Barge. the clue is in floating

HTH

[Ardesco]

Is it an office or is it a barn? I suppose you could covert it which would be allowed.

You would however have to use it as an office only. If you used it personally you would have to pay market rate rent on it. When you sell it you pay CGT on it as well.

Barge.

No idea how it will be seen, would a barge be seen more as a company vehicle than an office? Interesting proposition, although you need to take into account mooring charges which can be quite high for long term mooring and will you be able to access the internet (assuming that you need to do this to collect mail, etc)

[Sockpuppet]

Opps..thought he said Barn.


Barge is a bit more suspect. If you used it for holidays you would have to pay market rates on it. It would raise a lot of questions IMHO.

Esp if it is of the kind that sleeps people and not converted into office space and not living space.

[TheFaQQer]

In theory, it's not different than getting a company motorhome that you can use - you could even take it to work if you worked near a canal.

I know someone that used to go by boat down the Thames to Reading for work, moor it there for the week, then sail home on the Friday afternoon.

[ASB]

British waterways take a fairly dim view. This can cause licensing problems also mooring is a problem. There is sod all in the way of long term non private mooring available.