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Previously on "Buying Property - Cont.. from 'Biggest morgage'"
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Originally posted by RuprectWhat is the general opinion of buying property through the company (i.e. company assets) as opposed to taking the money out and buying them personally?
Don't even think of moving abroad if you have property held in a company. At least not without reading up very carefully on exit charges.
You can get a good introduction to some of the pros and cons here: http://www.taxcafebooks.co.uk/produc...995&prodid=upc
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The problem you have with that is that the mortage company are reluctant to put a title deed in a company name. I have sold all my property now but when I was looking for a BTL nobody would put it in a company name.
IR will see that you personally own the asset and then say it was a company loan and unless repaid will be taxed so.
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Hi Kramer,
So taking the money out of the company into your own pension trust you mean?
Just out of interest, what drives this opinion? TYVM
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not wanting to hijack but i think it may be better to stash the money into pension trust and then look at buy to lets coming out of that money... presuming the return is required over the long term.
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Buying Property - Cont.. from 'Biggest morgage'
This is sort of continued from the thread about leaving money in the company vs taking it out as quickly as possible too...
What is the general opinion of buying property through the company (i.e. company assets) as opposed to taking the money out and buying them personally? I would imagine that there would be slightly higher tax (overall) to pay if you bought them through the company, however if viewed as a long term business plan it would possible to ramp up alternative earnings from the company owning property (with a view to me having to do less work as I'm drawing on these earnings).
Note I'm not talking about the family home - talking about BTL. Note also that I'm also not after an opinion on the housing market either!Tags: None
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