- Original Poster
- #1
My office lease of 6 years is about to expire. Rather than renew the lease I have built a new office and this is now completed. The office was built entirely out of personal funds. Problem is it went £8k over budget which has stretched my personal finances.
The office needs finishing off with window blinds and carpet (circa £2k). Would these be legitimate business expenses to charge these to the business that will be taking rent free residence in the new office on the assumption it is like going into an unfurnished and bare office? I did this when the business first set up in a shell of a building but would the tax man look at is as feathering my own property this time around?
I know I could take the money out of the business to fund the final spend but that'd attract higher rate taxation and be non VAT deductible which would effectively double the cost of private spend over company spend.
The office needs finishing off with window blinds and carpet (circa £2k). Would these be legitimate business expenses to charge these to the business that will be taking rent free residence in the new office on the assumption it is like going into an unfurnished and bare office? I did this when the business first set up in a shell of a building but would the tax man look at is as feathering my own property this time around?
I know I could take the money out of the business to fund the final spend but that'd attract higher rate taxation and be non VAT deductible which would effectively double the cost of private spend over company spend.
