One of my clients runs a property trading Ltd company. He is considering buying a second residence as an investment property through the company. My question is, as he will be declaring a BIK charge on the property (due to him being director and shareholder, and occasionally staying there himself), is ATED still payable on the property? The property in question is worth over £500k. And if ATED is still payable, can BIK be avoided if he were not using the property at all?
Thank you in advance for your help!