Transfering commercial building from company to director

[elferUSA.com]

Hopefully someone knows the answer to this.

I am a British national, now living in the US (resident, will be applying for citizenship). My UK company which I am a 100% shareholder owns (mortgaged) a commercial property in London. The property is VAT elected (developer did this when new).

Is there a tax efficient route to transferring this property into my name?

My main worry is the VAT as I won't be able to claim this back, although I'm not clear on it any would be due given I do not reside in the UK?

There is a mortgage on the property from one of the UK banks. I am considering paying this off and writing the mortgage to the company myself – could there be an advantage to this?

I've held the property 8/9 years. Never had a valuation done on it since but my thoughts are commercial property can't be doing amazingly since the pandemic and the WFH movement. Perhaps now is a good time to do it as it will need to be at market value (my understanding) rather than one of those things where I pay £1 for it.

[elferUSA.com]

Thanks for the replies, All.

My accountant seems unsure about it and wants me to find someone with some experience in it (he's not dealt with a situation like this before).

Property has a tenant and about 7 years remaining.