I've a buyout bond from a previous employment with a value of circa 250k
My current company (I'm director) owns a property that is not required for the running of the business and is rented to a 3rd party and the plan is to sell it in the next 6 months when current lease expires (tenant not staying). Valued at 180k by 2 agents
Can I use the buyout bond attained from a previous employment to purchase this property as a pension asset or would it come under the "arms length" rule as I'm director and main shareholder of the company selling the property?
Once the property is sold, there would be no connection between the property & the company.
My current company (I'm director) owns a property that is not required for the running of the business and is rented to a 3rd party and the plan is to sell it in the next 6 months when current lease expires (tenant not staying). Valued at 180k by 2 agents
Can I use the buyout bond attained from a previous employment to purchase this property as a pension asset or would it come under the "arms length" rule as I'm director and main shareholder of the company selling the property?
Once the property is sold, there would be no connection between the property & the company.