Ltd Co buying a caravan?

[kermitt]

Unfortunately I have a long commute to fulfill my contract so generally stay away from home. I have rented in the past but am currently using a mixture of hotels and b&b's. I have been looking at renting again but because there are so many people doing the same thing the rental prices for somewhere of good quality, with parking and within a reasonable distance to work costs circa £1000 p.c.m

Now bearing in mind that if this is paid by myself or my Ltd I will never see this money again I was thinking that I could purchase a large static caravan at a popular holiday location within 10 miles of work and simply use that during the week. Not being into this sort of thing but I would imagine that something like this would be £20k?? but its reasonable to expect that it could be paid off quickly using Ltd Co funds and therefore would have something to show for the expense albeit this would remain a company asset.

Is this soemthing that is actually feasible and has anybody on here done it or considered it before?

The reason I am suggesting this is that I am franticall trying to save towards a sufficient house deposit so that I can relocate within the next 24 months but property in this area is stupidly expensive.

[Paddy]

Unfortunately I have a long commute to fulfill my contract so generally stay away from home. I have rented in the past but am currently using a mixture of hotels and b&b's. I have been looking at renting again but because there are so many people doing the same thing the rental prices for somewhere of good quality, with parking and within a reasonable distance to work costs circa £1000 p.c.m

Now bearing in mind that if this is paid by myself or my Ltd I will never see this money again I was thinking that I could purchase a large static caravan at a popular holiday location within 10 miles of work and simply use that during the week. Not being into this sort of thing but I would imagine that something like this would be £20k?? but its reasonable to expect that it could be paid off quickly using Ltd Co funds and therefore would have something to show for the expense albeit this would remain a company asset.

Is this soemthing that is actually feasible and has anybody on here done it or considered it before?

The reason I am suggesting this is that I am franticall trying to save towards a sufficient house deposit so that I can relocate within the next 24 months but property in this area is stupidly expensive.

It would be better for a friend to buy one and rent it out to you or you create company B to buy it and rent it out to company A.

Company B could be registered in IOM or Jersey as are most BTL companies in the UK . Even HMCR have their freehold registered offshore and rent it back

[Cliphead]

Just a head's up on buying a static caravan. A friend and his wife bought one a few years ago for around 24k. The contract stated that the owners of the site have first chance to buy it back whenever they put it up for sale, lost around 12k after owning it for three years or so.

They also couldn't use it all year round as the site is closed for some winter months. Check T&C's carefully.

[TimberWolf]

Good idea. Might I offer a few money saving enhancements to the idea though? Buy a van for a few £thousand and also save on exorbitant camp site fees and be free as a bird and be stealth-like:

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Oops, wrong picture:

[Old Greg]

Good idea. Might I offer a few money saving enhancements to the idea though? Buy a van for a few £thousand and also save on exorbitant camp site fees and be free as a bird and be stealth-like:

Mazda Bongo

[Benny]

Unfortunately I have a long commute to fulfill my contract so generally stay away from home. I have rented in the past but am currently using a mixture of hotels and b&b's. I have been looking at renting again but because there are so many people doing the same thing the rental prices for somewhere of good quality, with parking and within a reasonable distance to work costs circa £1000 p.c.m

Now bearing in mind that if this is paid by myself or my Ltd I will never see this money again I was thinking that I could purchase a large static caravan at a popular holiday location within 10 miles of work and simply use that during the week. Not being into this sort of thing but I would imagine that something like this would be £20k?? but its reasonable to expect that it could be paid off quickly using Ltd Co funds and therefore would have something to show for the expense albeit this would remain a company asset.

Is this soemthing that is actually feasible and has anybody on here done it or considered it before?

The reason I am suggesting this is that I am franticall trying to save towards a sufficient house deposit so that I can relocate within the next 24 months but property in this area is stupidly expensive.

I don''t know about statics but I did buy a tourer on the company for use when away on contracts -got all the VAT back but did have to pay a nominal amount for benefit in kind for personal use.
I joined the caravan club for access to their sites (some are surprisingly close to city centres) and use a bike to do the daily commute which is great in the summer

One snag is the limit of 28days on a lot of sites so unless you have a friendly warden (although some site have 'seasonal pitches' )you may have to move between sites each month

Bonus is if you have young kids (pre school) then they can come and stay

[Paddy]

I don''t know about statics but I did buy a tourer on the company for use when away on contracts -got all the VAT back but did have to pay a nominal amount for benefit in kind for personal use.
I joined the caravan club for access to their sites (some are surprisingly close to city centres) and use a bike to do the daily commute which is great in the summer

One snag is the limit of 28days on a lot of sites so unless you have a friendly warden (although some site have 'seasonal pitches' )you may have to move between sites each month

Bonus is if you have young kids (pre school) then they can come and stay

Is that a caravan or motorhome?

[minsky1]

While working on a contract up at BAe, I bought a tourer and lived in it for about 8 months on a site. It was ok - up until the weather turned. Enough to test anyone's mettle. Wouldnt recommend it to anyone to be honest. Did save quite a bit over hotels but the hassle wasnt worth it. The sites are only open for about 8-10 months of the year, so you then you have to put the van into storage and go back to hotels.

Did consider having a static up there, but its a very long term commitment - your contracted into an agreement (12 years the norm). Good sites charge ground fees of around 3-3.5k per year, plus a decent caravan with dg and central heating will set you back at least 25k. Then youve got to cough up for gas and elec. As per tourer sites, they close for a few months of the year, and your back to hotels.

Having said that I have since bought one for family use 6 years back, and get good use out of it. Site we're on is really good and has good entertainment for the kids and is next to the beach.

Nothing to stop you from buying one through the company, some owners on the site have a few vans and let them out through the park and privately. Make a few quid out of it but nothing spectacular.

Taking everything into consideration its cheaper to rent a bedsit or houseshare.

[zamzummim]

I know you can get a pick-up truck through the business, not sure about a caravan (static or not)

Pickup Truck Tax Explained

worth investigating.

[kermitt]

I had considered a pickup before when on a previous contract but using one means a 2 hour commute each way which would be almost 20 hours a week spent on the motorway doing 1000 miles average. Didn't really fancy that much.

If I lived closer to work then I probably would go ahead with one instead of renting but as I said I need to save a lot of money towards a mortgage deposit so that we can move.