Joint ownership

My client is in employment and pays higher-rate tax. He also has income from a consultancy that is carried on through a limited company. Remuneration and dividends have not been taken and capital from the undrawn profits is building up in the company bank account. My client has been considering buying a new property that will be his main residence and has asked whether there is a tax-efficient way of using the company funds to help him do this. I have briefly explained to him the benefits of the only or main residence capital gains tax exemption and the fact that if the company provides him with the use of a property a benefit in kind charge will arise.

He has asked whether there would be any advantage in the property being purchased by him and the company as joint owners. For example what if a ten-roomed property was...