Client is a Director/Shareholder of 5 LTd companies, 4 of which are based very close to his home 1 is around 200 miles away.
When visiting the 5th company in his role as Director he currently stays in a hotel for a few nights, which is paid for by his holding company (one of the four referred to above). This is becoming expensive, and so he is considering purchasing a flat to stay in instead which given the very low property prices in that part of the country will be far more cost effective.
The hotel costs are currently paid for by holdings and the property would also be purchased in the same way.
Would a 20% BIK be relevant here when he is not staying there?
Any thoughts would be much appreciated and let me know if any further information is required?