Quote:
Originally Posted by xxweekxx
some people do it.. i guess they just purchase the house as an investment for the business.. i mean corps can buy properties, etc..
then the corp rents it out to him for of course a low rate..
then any rent he pays is considered income to the corp.. but of course its tough to even show a profit because the corp is down $500k on the house they bought, but only collected like $10k in rent for the year.
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Damn, Im going to look into this. Im always trying to use all profits up as much as possible, appologies, but why not?
Quote:
Originally Posted by ottopottomouse
Yes.
Using things that look like nice loopholes are fine as long as you set it all up properly and pay the tax on any benefit gained from not paying a full market rate for the rent. Get decent advice first (and not off of some twat down the pub) or HMRC are going to come round and start shoving pineapples up your arse.
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This is very interesting, and yes, I would certainly only listen to my accountant and not some twat down the pub... nice one ottopottomouse.
