Recent content by endlessroad

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    How to account for personal funds into a sole trader business

    I suppose my worry is that this particular pre-trading expense could be shown to have been incurred by my parents (on whose credit card it was purchased), even though the purchase was indeed for my business, and even though ideally the money would have been transferred to me first for me to make...
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    How to account for personal funds into a sole trader business

    Indeed - I'm glad we got that one sorted out and had a good natter at the same time! Yet, I'm going to ramp it up a notch now with a related, but more technical, question... Before my business bank account came into existence, a family member offered to give me some money to put into the...
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    How to account for personal funds into a sole trader business

    Interimsolutions - Yes, that makes sense, thank you! Kind regards, Nick
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    How to account for personal funds into a sole trader business

    Thank you , Nicola J - that's what I thought! Kind regards, Nick
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    How to account for personal funds into a sole trader business

    Thank you, everyone, for your input... I'm a little confused at the moment, as I'm inferring from some of the suggestions that if, for example, I put in £100 of my own money (which I've already paid tax on, of course), I won't be able to then take it out of the business again later without...
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    How to account for personal funds into a sole trader business

    Hello, I'm in the early stages of setting up as a sole trader and would like to ask a question to the book keeping / accounting experts out there. I'm sure the answers will be useful to others who might have a similar question. I have a separate bank account for my business, and it hasn't had...
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