Hi,
I am considering to buy a property nowadays by paying £70000. This will be a leasehold for 20 years and I will immediately let this property and start earning rental income. 20 years later, this property will be given back as my lease will have finished in 20 years.
In my personal bank account, there is not enough money to buy this property and I have already taken out all my dividend allowance from my company account for this year.
I am considering to buy this property through my company, but I am not sure whether this is a feasible option or not, as I don't know how much tax will be paid while buying the property, while earning rental income, etc.
Again, as I said above, due to having the property for just 20 years, I will not be selling it in the future, will just be renting it, therefore there will be no CGT paid in the future.
Will "buying this property from the company" is a more feasible option than transferring the money from my company account to my personal account and then buying from my personal bank account?
Could you please enlighten me by mentioning about all the tax types/calculations related with a "limited company buying a property for BTL reasons"?
Thanks.
I am considering to buy a property nowadays by paying £70000. This will be a leasehold for 20 years and I will immediately let this property and start earning rental income. 20 years later, this property will be given back as my lease will have finished in 20 years.
In my personal bank account, there is not enough money to buy this property and I have already taken out all my dividend allowance from my company account for this year.
I am considering to buy this property through my company, but I am not sure whether this is a feasible option or not, as I don't know how much tax will be paid while buying the property, while earning rental income, etc.
Again, as I said above, due to having the property for just 20 years, I will not be selling it in the future, will just be renting it, therefore there will be no CGT paid in the future.
Will "buying this property from the company" is a more feasible option than transferring the money from my company account to my personal account and then buying from my personal bank account?
Could you please enlighten me by mentioning about all the tax types/calculations related with a "limited company buying a property for BTL reasons"?
Thanks.
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