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What are the differences, Pros and Cons?

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private ownership mean individual? 

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Yes, Private means the property under individual name or joint ownership... Company means purchased under company assets.

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Will the charges be different for Company ownership as compared with Private ownership. Is it something similar like car ownership.

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@ John... yes you are right about vehicle ownerships... if registered under company, will be more expensive to own and maintain road tax

Got some information from other website:

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The decision as to which structure to use should be made with reference to both taxation and commercial issues

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