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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 8109
Experience:  English solicitor with over 12 years experience
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It may be my question is more for an accountant but happy to

This answer was rated:

HI Pearl, it may be my question is more for an accountant but happy to try!
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: I live in the UK and run a Ltd company.
JA: What steps have you taken so far?
Customer: Can our Ltd company rent or buy a residential house and then offer a "Company Let" to my wife and I as directors?
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Great - connect away!
Customer: replied 15 days ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 15 days ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.

Hello,

I am a solicitor.

Yes, this is fine. Your company may hold the title to the property which you may then let to yourselves as directors of the company.

May I help further?

Customer: replied 15 days ago.
Are there are any tax liabilities that I need to be aware of? Is this a benefit in kind?? It looks almost too good to be true!!
Customer: replied 15 days ago.
Am I right in assuming that the Ltd Company could rent a house for us as well under the same "Company Let" arrangement if the company chose not to purchase the property.

Legally, this is possible.

However, the implications would need to be referred to a tax advisor as it would depend on whether the property is subject to a mortgage and so on and if so, what restrictions the mortgage comes with.

I trust that my response was useful.

All the best

UKSolicitorJA and 5 other Law Specialists are ready to help you
Customer: replied 13 days ago.
really helpful. I spoke to a tax advisor this morning as a follow up.