BACK

Should I take a lease on in my personal name or my company
21st May 2014

You need to take advice from an accountant on this point to see which method is tax efficient. You should be aware that if you take a lease on in your personal name it will mean you are personally liable for the rents and as such the Landlord could sue you personally and petition for your bankruptcy in the event that you fail to pay the rent. With a limited company, you can hide behind what is called the “corporate veil” so you have the benefit of what is knows as limited liability as a company is viewed as a separate legal entity to you.

Most Landlords will insist on you entering into either a rent deposit or personal guarantee in the event that you enter into a lease through a company.

PLS Solicitors specialise in advising on the complex area of commercial property. We offer a friendly, efficient and effective legal advice on any area of commercial property.

Get in touch for a free conveyancing quote or advice, without obligation.

Get a Free Quote From PLS
If you need any help or simply have a question, please get in touch...