business from home and home for business?

[simplyjordan]

I have been looking into buying a property for my business to be run from and also at buying a home for my girlfriend and I. The purpose of buying for the business was to have more in assets, and I was thinking that since I run the company from my (rented) home at the moment, I could buy a house and run my company from there. as it would be my registered office can I buy it through the business as an expense and include the property in my business assets? good for tax and it would mean I wouldnt have to pay income tax on the amount I use as a deposit because it is going towards buying an asset for the business. is that possible?

or option two...

I get a buy to let mortgage on the property and rent it to my girlfriend. allowing the whole thing to be put through the business, but making it fraud for me to live there.

please help if you know!

[buildersmate]

Don't know about the ins and outs of the financials, but ...

Don't forget the potential planning consent issues of buying a domestic house and running it predominantly as business premises. In addition some (mainly more modern estate) dwellings have land title constraints to prevent their use as business premises.

Finally don't overlook the potential loss (long-term) in terms of capital gains, because you can't claim 100% of your business as your 'primary residence', which is of course except from CGT.