BTL in an SPV payment

[Resto157]

Hi,

Looking for some advice, is it possible to make a payment for a deposit/solicitor fees from a personal bank account for a property to be purchased through a Limited company?

[db10]

Why wouldn’t it be? Are you asking if the payment would be tax deductible in the company in this case - unless the cost is ultimately borne by the company then you wont get a corporate tax deduction (plus it has to be wholly and exclusively connected to the companies trade)

[LooneyTunes]

Yes, provided you can satisfy them regarding anti-money laundering. Likely to be easiest if it’s the same lawyers involved in both the conveyancing and the setup of your Ltd.

Would often be cleaner to pay from the Ltd but still expect questions about how your Ltd is funded.

[Fat hippo]

You’ll need a company bank account set up to make the the payment for the deposit, or the full purchase price if not taking a mortgage.

Why not get it set it up now?
For the sale of a few quid a month in fees

[LooneyTunes]

Fat hippo said:

You’ll need a company bank account set up to make the the payment for the deposit, or the full purchase price if not taking a mortgage.

Depending on the relationship he has with his solicitors he may be told this, but it's not necessarily going to be the case. The only way he is going to know is to speak to them.

[Mr Overheads]

Resto157 said:

Hi,

Looking for some advice, is it possible to make a payment for a deposit/solicitor fees from a personal bank account for a property to be purchased through a Limited company?

You can claim say a taxi receipt paid personally back from the company i.e. expenses. This is no different, just record it as an expense in the company books.