Private construction

My client operates his building business through a limited company. During the last accounting year he purchased a plot of land in his own name and has been building a property on it which will be the main private residence for himself and his family.

He has told me that the limited company has purchased materials that have been used on the private house. Should these be charged to his director’s account or would it be more beneficial to simply treat this as a benefit in kind and what value should be used in either event?

There are a couple of other elements to this scenario for which I would appreciate clarification. The company had ‘scrap’ materials that had been left over from other jobs and which in the normal course of events would have been dumped or given away. Some of...