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Using my Ltd Companies Money to Buy an Invest Property

  • 14-10-2012 4:23pm
    #1
    19driver83
    Registered Users, Registered Users 2 Posts: 164 ✭✭


    Im a contractor with a Ltd. company. Can anyone explain to me if it is possible to use my profit to buy an invest property?

    I understand I can never live in the house.
    Can my company get a mortgage?
    What are the pitfalls?


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Sorry can't help property related questions are not permitted. There are a number of taxes to consider you should ask your accountant.


  • #3
    viztopia
    Closed Accounts Posts: 770 ✭✭✭viztopia


    from a tax point of view it is a bad idea to but property in a company. The rental profit will be taxed at 25% plus a closed company surcharge in the following year. Also there are not many expenses that you can put against the rental income in a compay(admittenly they will be the same as a sole trader).The main problem that I woudl see would be when ever you go to sell the property down the line you may be taxed twice in that the company would have to py capital gains tax on any profit and then if you wnated to take the profit out of the company then you would also have to pay tax on this rather than one hit to cgt as a sole trader.
    hope this helps


  • #4
    19driver83
    Registered Users, Registered Users 2 Posts: 164 ✭✭19driver83


    Thanks for advice.

    Any tips as to other possible ways to invest profit from your company besides executive pensions?


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