Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Property poser

21 February 2007
Issue: 4096 / Categories: Forum & Feedback

My client is a manufacturing company that has been in business for a period of years. Since starting, they have rented a factory unit; however, the lease will come to an end in a couple of years time and as the company has proved that it can trade successfully on an ongoing basis, the four director/shareholders (who are two sets of husbands and wives) are considering whether it would be better to purchase a new unit.

My client is a manufacturing company that has been in business for a period of years. Since starting they have rented a factory unit; however the lease will come to an end in a couple of years time and as the company has proved that it can trade successfully on an ongoing basis the four director/shareholders (who are two sets of husbands and wives) are considering whether it would be better to purchase a new unit.
From a financial point of view the property purchase seems to make sense but my stumbling block is who or what should own the property. I have always thought that personal ownership would be best but there have been one or two 'issues' between the couples in the past and I do worry about what would happen in the event of a major falling-out. I wonder if...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon