Hi All
Just want to check myself...
Ltd company owns a residential property.
The company wants to rent this property to someone for a 6 month period rent-free.
The tenant is not connected to the company by way of employee, ownership or director relationship. But, the tenant is the father of a Director of the company.
Are there any tax consequences here?
My first thoughts go to employee BIK (annual value plus 'yearly rent' of (cost - £75,000) x ORI) ) - does the father relationship somehow bring this into play? By way of associate to the Director?
P.S. property is valued less than £500,000 for ATED purposes.
