UK Claiming rent expense for a limited company

[Barca]

If I sign a commercial premises lease in my own name, can I claim rent as an expense for the limited company that will be operating at these premises? I am the sole director of this limited company.

 

[Becky]

Is there a reason you didn't take out the lease in the company's name? You could sublet the premises to the company, as long as it is done on an arms length basis (ie you can't charge the company way over the market rent). You would then need to report the rental income on your tax return, but can deduct the cost of the lease. Obviously I don't know the full facts here, you should run any decision past your accountant before proceeding.

 

[Barca]

Is there a reason you didn't take out the lease in the company's name? You could sublet the premises to the company, as long as it is done on an arms length basis (ie you can't charge the company way over the market rent). You would then need to report the rental income on your tax return, but can deduct the cost of the lease. Obviously I don't know the full facts here, you should run any decision past your accountant before proceeding.

Thanks. The lease hasn't been signed yet.