have taken on a new client - furnished holiday let run through a company
we have handover info from the previous accountants, problem is there is no property within the company - it turns out the property is owned by the individual
there are no recharges out of the company to the owner
I feel like i'm missing something, is it possible to run a perosnally owned FHL through a company in this way?
it seems to me that the reality of the sitaution is that this is personal income and should be treated as such, and the company set up isnt valid......if thats correct where do we go from here?
Any help is appreciated