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Ask Jeremy Aldermartin Your Own Question
Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Law
Satisfied Customers: 3548
Experience:  Dual qualified Solicitor and Attorney
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I am a new business owner, and my business has done very

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I am a new business owner, and my business has done very well so far and would like to invest in a commercial building. I haven't filed taxes yet as my business is only a few months old. The building i'm interested in is 3million. Would it look strange to hmrc or the authorities for me to make a large purchase so early on in my business?Also, at which point do i need to hire a solicitor, after i have made an offer or before?
JA: What state are you in? And have you consulted a local attorney?
Customer: UK LONDON no
JA: Has anything been officially filed? If so, what?
Customer: no
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no
Hi thank you for your message, it is likely to arouse suspicion as to how such an expensive purchase could be funded by a new business with only a limited trading history. That said if it can be justified such as borrowing much of the purchase and borrowing from a reputable bank then the finance can be justified. I hope this helps, if you can please accept my answer and rate me 5 stars (in the top right of your screen) then Just Answer will credit me for helping you today.
Customer: replied 6 days ago.
thank you...if i filed first years accounts before completing the purchase would that help?
Yes that would help, so you can show at least a year trading history also it makes it more likely you could obtain a commercial loan. I hope this helps, if you can please accept my answer and rate me 5 stars (in the top right of your screen) then Just Answer will credit me for helping you today.
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Customer: replied 6 days ago.
Thanks very much