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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 7987
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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Are funds from my holiday home rental a legitimate source of

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Are funds from my holiday home rental a legitimate source of mortgage deposit? The company is less than a year old so no tax returns or accounts are due or submitted.

Hello and welcome to JustAnswer. I’mCustomer a UK qualified accountant. Reviewing your question and will respond to you shortly.
Many thanks

Thank you for your question.

Funds raised from holiday home rental income are a legitimate source of mortgage deposit.

My aim is to give you a professional service. I hope this is helpful and answers your question.

If you need more assistance, please use the reply box below and let me know. It has been my pleasure to assist you with your question.

Customer: replied 11 days ago.
My holiday letting is an LTD company. Is this still ok although I have no source of proof of withdrawal from the company? Will I need dividend proof?

Thank you for your reply.

If the funds were transferred into your account from LTD company account, a proof of payment into your account should be sufficient. The transfer will be treated as dividends paid when you finalise company accounts and/or file your persoanl tax return.

I hope this is helpful and answers your question.

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Customer: replied 11 days ago.
Thats incredibly useful. Thank you so much for your time!

I thank you for accepting my answer.

I'm glad I could help you resolve this today. Please follow up here if you have any other questions.

Best wishes.