What about the site, could you develop or add value to this? It’s another non income producing asset you have, is there a reason you’re holding onto it as planning permission only lasts a certain length of time.
.
Yes, I've since checked with the accountant and our exemption income is completely unrelated to company income and it's true companies cannot avail of this, only the exempted person.
What about the site, could you develop or add value to this? It’s another non income producing asset you have, is there a reason you’re holding onto it as planning permission only lasts a certain length of time.
.
We're not sure what to do with it to be honest, were thinking of hanging on to it in case our son might want to build on it down the line, but he's in his early teens so it's a long way off yet.
We're not sure what to do with it to be honest, were thinking of hanging on to it in case our son might want to build on it down the line, but he's in his early teens so it's a long way off yet.
Well afaik there’s a land tax on the horizon which might make holding and not developing it a more costly strategy depending on its size and how much you might have to pay per year so maybe selling that might be a consideration? Though it doesn’t help with diversifying.