Funding a New Start-up

motorguy

somethingcorporate wrote: »

You should ask whoever told you that.

Grants for starting new businesses are few and far between.

On the grounds that 95% off all startups go down the pan within 2 years...

lesleycoups

Thanks for being so unhelpful

motorguy

lesleycoups wrote: »

Thanks for being so unhelpful

Would you rather we lied?

heather_helo

i know this is abit late but if you sold your house you might have to pay capital gain tax as its an investment property not principle private residence.

in the same way if you remortgaged your property the amount of investment i.e 20k extra would be treated as a business loan and you would get some tax benefit on the interest. i.e treated as a business loan and the interest on the additional loan would be allowable expense.

lincroft1710

You only pay CGT on the gain and there is a current allowance of £10,600 and certain expenses can be offset, eg Stamp Duty on initial purchase. If OP purchased within past 6 years, there may not be any gain.

But it is still a valid point.