But Live/Work property through the LTD?

[Martin@AS Financial]

From a mortgage point of view, not every lender will consider a live / work property. The first thing you need to find out is what the designated split is between the live and the work element.

[northernladuk]

Insurance is going to be a bit of a bugger as well. Insurances for business premises normally stipulate no one is sleeping on site.

[Sockpuppet]

Insurance is going to be a bit of a bugger as well. Insurances for business premises normally stipulate no one is sleeping on site.

I was just resting my eyes....alright!

[SueEllen]

Where is hgllgh?

[hgllgh]

Your not convinced BIK applies why?

You need to have somewhere to live as your main residence. So if the work/living property isn't your main residence where do you live?

BIK applies to benefits for employees ... this transaction would be separate ... as in my LTD purchasing business premises. Then, as I understand these live/work units, you are then allowed to reside there as your main residence?

[SueEllen]

BIK applies to benefits for employees ... this transaction would be separate ... as in my LTD purchasing business premises. Then, as I understand these live/work units, you are then allowed to reside there as your main residence?

I suggest you read again what the other posters have posted.

HMRC allows your company to pay for it's employees and directors to live in temporary accommodation so your company can provide services to it's clients. However the employees and directors must have a separate main residence. This separate main residence is where the employees and directors live when they don't have a contract.

If you don't have a separate main residence then there are regulations covering providing employees and directors with accommodation. One of the accountants, Clare@InTouch, has posted links to this which I suggest you read.

[hgllgh]

Link an example of a property you are thinking about?? Am interested to see.

Live Work Homes

no mention of business rates with this one but there are others on the site that do, so maybe some have separate entrances/self contained for the work area?

[stek]

It's fine there is no issue whatsoever with this, I bow to your brilliance is spotting this idea that nobody else has thought of

That the answer you are waiting for?

[hgllgh]

I suggest you read again what the other posters have posted.

HMRC allows your company to pay for it's employees and directors to live in temporary accommodation so your company can provide services to it's clients. However the employees and directors must have a separate main residence. This separate main residence is where the employees and directors live when they don't have a contract.

If you don't have a separate main residence then there are regulations covering providing employees and directors with accommodation. One of the accountants, Clare@InTouch, has posted links to this which I suggest you read.

Ok, but these rules apply to a company buying a property to provide temporary accommodation right? But this is not the case with live/work units which are intended for permanent residency for the business owner, so I was guessing that there is a separate classification/set of rules for these properties? ..... Otherwise how do these live/work properties exist in the first place?

[hgllgh]

It's fine there is no issue whatsoever with this, I bow to your brilliance is spotting this idea that nobody else has thought of

That the answer you are waiting for?

errr no ... not really stek