Buying a House (Options)

[monkeyrhythm]

Thanks both Olly and Daniel (via PM), I'll look into my options.

[Hex]

Go and find the thread that "Just1morethen" was referring to. It had some discussion of using company money against a personal flexible mortgate. THEPUMA was the poster who gave the background to it. Both of these posters are accountants. It is certainly worth a read and maybe further investigation.

[Olly]

Go and find the thread that "Just1morethen" was referring to. It had some discussion of using company money against a personal flexible mortgate. THEPUMA was the poster who gave the background to it. Both of these posters are accountants. It is certainly worth a read and maybe further investigation.

It's a route I've looked into, in my mind about the worst that's likely to happen is you have to pay interest on the amount of which only 21% goes directly to Hector and possibly another 10% later depending how I shut up shop but don't let anyone tell you it's all hunky dory as it's my understanding there is no evidence from HMRC that they agree with the concept.

[northernladuk]

It's a route I've looked into, in my mind about the worst that's likely to happen is you have to pay interest on the amount of which only 21% goes directly to Hector and possibly another 10% later depending how I shut up shop but don't let anyone tell you it's all hunky dory as it's my understanding there is no evidence from HMRC that they agree with the concept.

And lets be fair here, they are hardly likely to agree to anything that involves buying your house with company money in an affort to avoid paying tax. Whatever the work around it doesn't sound right at all.

Don't get me wrong, am just playing a bit of devils advocate here, if there was a risk free way of using a loophole I would be interested but common sense dictates it is going to be tough to get away with.