Hi
If you are the only shareholder in your LTC and it sells a Rental that you have held for many yrs...how do YOU actual get the money out of the LTC?
Do you give it to yourself as Drawings?
Would that money now be shown on your IR3 as income?
LTC would not be wound up as it still holds another rental
No Depreciation done on rental as it was only purchased after Deprecation was outlawed.
Thanks
Richard
If you are the only shareholder in your LTC and it sells a Rental that you have held for many yrs...how do YOU actual get the money out of the LTC?
Do you give it to yourself as Drawings?
Would that money now be shown on your IR3 as income?
LTC would not be wound up as it still holds another rental
No Depreciation done on rental as it was only purchased after Deprecation was outlawed.
Thanks
Richard
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