Recent content by Dave the rave

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    Initial investment to company and Corp tax

    Hi John after reading your posts I have done some digging it looks like the training part etc can be ofset but not the branding part as that is classed as good will. There is nothing in the agreement about how it is split up. I will have to see if the franchiser with break it down for me. Thanks...
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    Initial investment to company and Corp tax

    Yes good advice. There is no split in how the initial franchise fee was portioned. It's basically the franchise fee is £30k fpr this you get initial training and support can use the company branding and access to certain tools and software. There is no way to split it up into £X was for training...
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    Initial investment to company and Corp tax

    Thanks John Yes the £30k was for the initial franchise fee which included training use of the franchors branding etc. There is no breakdown of the fee in the franchise agreement / contract. This was paid when the business was set up. I used my own personal money to pay the initial £30k which...
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    Initial investment to company and Corp tax

    Thanks guys. The initial £30k was for the franchise fee. I lent the money to the company.
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    Initial investment to company and Corp tax

    i invested around 30k in a franchise. The first year after all expenses the company made a small loss of around £4K of trading. Do this mean the company lost £34k and the losses can be carried over to next year or would I only beable to carry over the £4K ? Thanks for reading
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    To old for new career or business at 48?

    You sure he really existed ?? whether you think you are too old or not. You are right !!
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    Depressed. Your help please!!

    Does that mean the spongebob plan is flawed ?
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    cease trading with personal guaranteed overdraft

    I have seen a few of your posts which note company data . I'm interested to learn how you find out who company belongs to who on here ? :)
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    Directors Loan - Self Assessment

    The accountant works on a share of the savings he makes for the individual or company. I am assuming this is tax savings. I was of the same opinion Bob. The accountant said he has one client who does this on a regular basis and he has not paid any tax for 15years. He claimed his clients company...
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    Directors Loan - Self Assessment

    Hi all, A couple of questions regarding some, what I reckon is dodgy advice a friend got from an accountant. He has been advised to set up two Ltd companies with similar names run one for 18 month then close it and then begin trading from the other. The "accountant has told him this way he won't...
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    Director of a company also a sole trader in another field

    Thanks for the replies. Yes the company is VAT registered. My concern is whether it is allowed/acceptable to join a service on that is totally unrelated. Or whether being a director of one company stops me from being a sole trader.
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    Director of a company also a sole trader in another field

    I'm currently a director of a company. We produce property assessments, we also run a consultancy from the same company. I am considering a move into another direction. If I move into a totally unrelated field can I be a sole trader in that field ? Or would or could I run the new gig from the...
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    Should I Notify HMRC About VAT Mistake If Closing Co?

    Would he still be liable to what happened before he resigned. Eg an overdrawn directors loan ?
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    Company accounts due advice needed please

    If HMRC are chasing you for personal tax, I personally would attempt to set up a payment plan. How do HMRC know the company owes them money ? Did you submit accounts ? From your original post it was my understanding they were due to be submitted ..
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    PAYE Payments and Directors Salary

    The £40k loan was for the franchise fee. We loaned the company the money and the company bought the franchise. I understand that the loan is a balance sheet item (now !!) As the company used the £40k to buy a franchise, I assume it is £40k in the red and therefore we need to make £40k before...
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