Offset Mortgage

[morphman]

Is it not possible to take a large directors loan, and charge yourself interest just under what you are paying on your mortgage.

Then you can offset the whole lot of it tax free, and the interest you would have paid to the bank, will now go directly to your own company account, to be redistributed as profits.

I think even after the consideration of corproation tax on the interest payments you would probably be better off.

[Moscow Mule]

Had a reply from the accountant - she says you can do it, but it's a pain in the arse to administer/ and keep on top of.

£5k is the limit unless you want to get really complicated (see morphman's post).

A mortgage is not on the agenda at the moment but I doubt I'll bother when the time comes.