To add to VORTIME's post:
You don't need an audit unless your company's turnover is over £1,000,000, which I think is rather unlikely.
If you have to pay import VAT on the aircraft the company should be able to reclaim this. The company has to be registered for VAT. You can do this voluntarily even before you reach the registration threshold. This also means you have to charge VAT every time you hire out the aircraft. When you use the aircraft yourself you should charge and pay the same hire rates as a third person. We don't want any benefits to directors which are taxable.
Rather than buying a company where you don't know the history you should set up your own company. This will only cost you about £75 + VAT and takes about two weeks to sort out the paperwork. And it is not a problem to have the company registered at your home address. (We do this all the time for our clients).
I assume you use your private money to buy the aircraft. First you have to pay this money into the company's account as a director's loan and then the company can buy the aircraft. After a while you will find a better name for director's loan is "black hole"
because of all the money which is going to disappear here. (One of our clients who has done the same could tell you stories...)
Get yourself an accountant who will advise you about filing accounts, corporation tax, VAT and anything else you need to know regarding setting up and running a company.
You might even want to ask a solicitor regarding legal implications of buying an aircraft from the Channel Islands.
Whatever you do, enjoy your flying.
GAF4139