Commercial property

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If you buy a commercial property for use for business via limited company . Can I use for example the money to
Buy the building for example 70k deposit mortgage for a 300k property as a expense to reduce corporate tax ? Bit confused as how do these big corporate companies buy their buildings without deducting cost of buying the building Im sure the director doesn’t pay out his own pockets!?

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By Kevin Kavanagh
22nd Aug 2018 09:25

Triotrex, you keep asking similar questions relating to property transactions. So please don't be surprised that you are likely to get the same responses, i.e. that you need proper, paid for professional advice before making potentially disastrous decisions.

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By Accountant A
22nd Aug 2018 09:29

Thanks for the question Triotex. My apologies, but as this is a forum for accountants to discuss issues from the profession, I'm not going to answer.

The sister site UK Business Forums has a specific accounts and finance section where your question is likely to find a more receptive audience.

https://www.ukbusinessforums.co.uk/forums/accounts-finance.55/

Hope that's helpful.

Thanks again and best wishes,

AA

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Replying to Accountant A:
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By Wanderer
22nd Aug 2018 09:33

(S)he's already been given the same advice there:-
https://www.ukbusinessforums.co.uk/threads/buying-property-limited-compa...

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Replying to Wanderer:
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By Accountant A
22nd Aug 2018 09:51

Wanderer wrote:

(S)he's already been given the same advice there:-
https://www.ukbusinessforums.co.uk/threads/buying-property-limited-compa...

So I see, but has come back here with, what appears to be, the same question. It's probably the most extreme case of "needs an accountant" that we have seen - well, in the last couple of days.

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Replying to Accountant A:
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By Triotrex
23rd Aug 2018 20:12

I have a accountant mate that I pay 3k a year . Lol

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Replying to Triotrex:
By Ruddles
23rd Aug 2018 20:28

I’d change accountant then if your current one is out of his depth.

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By JCresswellTax
22nd Aug 2018 10:02

Answers to your specific questions:

1. No
2. Correct

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Replying to Triotrex:
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By Wanderer
23rd Aug 2018 20:20

Triotrex wrote:

Useless old hag don’t post here if you haven’t got advice .

Just shows how little you understand. JCresswellTax is the only one that's actually answered your questions.
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