Share this content

1 bedroom flat and ltd

Didn't find your answer?

I'm looking to rent a 1 bed flat in London and would like to cover some of the renting costs.

I can either make a renting agreement on ltd or on myself. 

What is the better option?

If I state that I use living room as office, how much % of renting can I claim?

Replies (11)

Please login or register to join the discussion.

By Duggimon
25th Sep 2019 15:59

Please go away

Thanks (4)
Replying to Duggimon:
avatar
By trustee
25th Sep 2019 16:20

such a good answer

Thanks (0)
Replying to trustee:
By Duggimon
25th Sep 2019 16:31

Thanks very much.

Thanks (0)
Replying to Duggimon:
RLI
By lionofludesch
25th Sep 2019 17:39

Quote:

Please go away

Top advice.

Thanks (0)
By SteveHa
25th Sep 2019 16:11

This is an accountant's forum, not a tax evasion forum.

Thanks (0)
Replying to SteveHa:
avatar
By trustee
25th Sep 2019 16:20

Why evasion? I'm looking into official working from home tax relief.

Thanks (0)
Replying to trustee:
Lone Wolf
By Lone_Wolf
25th Sep 2019 16:32

Quote:

Why evasion? I'm looking into official working from home tax relief.


"If I state that I use living room as office, how much % of renting can I claim?"

The way you have worded this makes it sound like you're going to make stuff up to suit the best tax answer, i.e. tax evasion.

You actually have to use it for business purposes for a start.

If you're doing it through a Ltd company you also have to have some for of rental agreement between you and the company, so it is no longer "use of home" you are looking at.

Thanks (0)
avatar
By CW2012
25th Sep 2019 16:51

Why would you want a limited company involved in renting a residential flat, what do you expect to gain, if you live there you've got a benefit in kind. Unless of course you pay a market rent on the flat, then whats the point, it might turn out to be more expensive than the actual rent that the company pays, you'd probably have to complete a P11d, the company would need to file accounts and a CT600, so now you'd have to have some software to file the tax return and a reasonable knowledge of accounts to put together some FRS 105 statements at the least. If you split out individual rooms you might cause yourself some issues elsewhere, the HMRC have tables for fixed rate deductions.

Thanks (0)
avatar
By JDBENJAMIN
27th Sep 2019 10:15

Get an accountant to advise on this. This forum is not for free advice to the general public. Though I would add that I don't know why you think renting it through a company is advantageous. Don't believe snippets about tax saving wheezes that you hear from people down the pub or from workmates.

Thanks (0)
Replying to JDBENJAMIN:
RLI
By lionofludesch
27th Sep 2019 10:23

Quote:

Get an accountant to advise on this. This forum is not for free advice to the general public.

I don't mind giving free advice to the public. Up to a point.

Has to be a sensible question, though.

Which this isn't.

Thanks (0)
Freddie
By Slim Freddie
30th Sep 2019 13:40

Neither... simples!

Thanks (0)
Share this content