More of a question for Artesco/Oraclesmith who seemed to be a bit more in the know, but anyone who knows welcome.
If I personally own an asset (ie. Commercial Property) and want to transfer it to a LTD Company, so that the LTD company owns the property but as a director I am owed a directors loan of the value of the property. How do I do it?
Do I have to
a) open the Ltd Company first, transfer the money in and buy the property in the Ltd company name (I dont have enough time to set this up) or
b)buy it personally then transfer the deeds and have the company owe me the money or
c) sell it to the Ltd company later on and then have to pay stamp duty again?
My new accountant is on holiday and wont be back for another 10 days.
If I personally own an asset (ie. Commercial Property) and want to transfer it to a LTD Company, so that the LTD company owns the property but as a director I am owed a directors loan of the value of the property. How do I do it?
Do I have to
a) open the Ltd Company first, transfer the money in and buy the property in the Ltd company name (I dont have enough time to set this up) or
b)buy it personally then transfer the deeds and have the company owe me the money or
c) sell it to the Ltd company later on and then have to pay stamp duty again?
My new accountant is on holiday and wont be back for another 10 days.
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