UK Landlord Forum / Life

Buying a garage for storage and my wife wants to buy it through her business as they made a lot of profit last year and the accountant is saying she's going to have a massive tax bill. We need some extra storage anyway and found the perfect garage. Accountant is saying it's better to use our own money and that the business can't really buy it and he's not giving me a real answer why? Maybe in about 10 years or so will sell it but I can't see the issue?

Your accountant is correct. If the business did buy it then it'd just be a capital asset and won't reduce the taxable profit. It's essentially the same as if you bought a buy to let: you couldn't set the purchase cost of the property against income.

Would it be wholly for business storage?

No would be storing an old car in there as well

That being the case, there's definitely no reason to put it through the business.