yard rent info > can i pay myself the rent

[tree monkey]

are you buying it outright or load etc?

if on finance claim it through company

[gensetsteve]

I did exactly that. But because development for housing came on the horizon I was very careful to keep it out of the business. If you sell later and make a profit you will pay capital gains. You can offset an allowance ea year so its not a straight 40% after 20 years on the profit. I would focus on the other positives like better security and no travelling to work. The big neg is you open you curtains and your at work. You have your family BBQs out the bucket of the jcb but like most things in life there are fors and against.

[Dr.Green]

buying outright , no loans , just savings..... will catch up with accountant next month ..

 

i thoguth if i owned it personaly , then if my work load ever went tis up in say few years or more the yard didnt belong to business so makes things easier if i ever 'gave up' self employed yet still had the yard for personal use.

 

i know il pay tax on it if i rent it off business, as its another income to declare on self assesment.. these ***** at the top do it but on mega scale

 

cheers , few notes taken in - got loads to do this year at the place.

Edited January 17, 2013 by Dr.Green

[skyhuck]

buying outright , no loans , just savings..... will catch up with accountant next month ..

 

i thoguth if i owned it personaly , then if my work load ever went tis up in say few years or more the yard didnt belong to business so makes things easier if i ever 'gave up' self employed yet still had the yard for personal use.

 

i know il pay tax on it if i rent it off business, as its another income to declare on self assesment.. these ***** at the top do it but on mega scale

 

cheers , few notes taken in - got loads to do this year at the place.

 

Are you a Limited Company??

 

If not I don't see how it makes any difference, the business is yours, you own all it owns, so I don't get what you accomplishing by keeping it separate??