If we draw equity from company and personal properties by re-mortgaging, what is the tax liability if it is not reinvested in properties but applied for personal use (i.e. as a retirement income)? 

Arthur Weller replies:  

If you draw equity from personal properties by re-mortgaging for personal use, you can claim interest relief up to the value of the property when you started to rent it out. See HMRC’s Business Income manual at BIM45700, Example 2 (Note: there are contrary indications on the HMRC website. But many landlords successfully rely on BIM45700). With regard to company properties, it depends. If the loan is to you personally, and the company property is merely a security, then as long as the lender does not 'start with the company property', I can't see that there are any tax consequences, because the company is merely acting as a guarantor. Possibly HMRC could argue that the value of this guarantee is a benefit-in-kind (BIK), but this seems unlikely. However, if the money is lent to the company, and the company then lends on the money to you, there certainly will be BIK consequences for you, and ‘section 455’ tax consequences for the company.