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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 16508
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am a higher rate tax payer am in full time employment and

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Hi, I am a higher rate tax payer am in full time employment and have a limited company Can I offset any of my income tax if I make investments into my company?
JA: Which tax year is this for?
Customer: It would be forward looking
JA: Anything else you want the Accountant to know before I connect you?
Customer: I am also going to be buying a second home to rent to my parents.

Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.

I'm afraid you cannot claim tax relief for investing in your own company.

If you borrow money personally and lend it to your company you can claim tax relief against your income for the interest.

If you rent a property to your parents at a less than commercial rent then any loss can only be offset against a future profit from the letting of the same property to your parents.

I hope this clarifies matters but let me know if you have any further questions.

TonyTax and other Tax Specialists are ready to help you
Customer: replied 7 days ago.
OK, thank you

Thanks.