Recent content by Joop123

  1. J

    Funding house extension

    We are due to extend the house and have had a couple of quotes in from builders. Both have mentioned that since I own a business and lease a commercial premise that I could save money and reclaim vat by making the invoices out in he business name. I'm not sure how this would work and I'm...
  2. J

    Credit

    Hi I usually submit 2 spreadsheets to the accountant at yr end, One for payables and other receivables. I run a franchise where we get credit for some stock we buy from our franchisor...it's actually just deducted from what we actually owe them every month. Now I have been including this...
  3. J

    Dividends

    Robert many thanks for the reply, would the only extra cost to the company be the £10000 being paid as a dividend ? Also off topic if we were to receive this dividend from a totally separate company would the figures be the same. Again many thanks
  4. J

    Dividends

    Hi everyone If anyone could answer hopefully a quick question please.... At the moment me and the wife (directors) pay ourselves £585 each per month and also dividends of £2660 each per month to keep ourselves under the 40% bracket and pay no income tax. If we were to pay ourselves at the end...
  5. J

    director loan

    many than ks guys....Tom the sentence sheds light on it joop
  6. J

    director loan

    Hi everyone, Hopefully just a quick easy answer to all those ITK. My sister has a limited company and put in £30k as directors loan to get it off the ground. The company hopes to make an operating profit before tax of roughly £50k. She has a pension so doesnt take a salary as the pension is...
  7. J

    business mileage

    as always many thanks for the replies :)
  8. J

    business mileage

    Hi guys/girls Running a limited company and have started using my own car for business alot more now, I know that I can claim 45p and 25p for the approved miles but can I pay myself from the company at the end of the year...say 14000 miles (£5500) in a lump sum ? cheers Joop
  9. J

    directors loan

    thanks guys
  10. J

    directors loan

    Thanks for the reply, at present I pay myself a salary of £585 / month and dividends ...enough just to keep me under 40%. Am I correct in assuming that I can lower my salary to offset the interest income and thus pay no tax joop
  11. J

    directors loan

    Hi Was just wondering if by lending my ltd company say £80k borrowed from a personal bank loan that I have just taken out , could I then charge the company the interest that I am being charged from the bank ? And if so is this interest payment to me liable to be taxable from a personal point...
  12. J

    Retained profits

    thanks for the additional information, I'm thinking that I might look around for a financial advisor. If I was to start another ltd business with another partner what would the best way forward be regarding shares...the problem I have is that I dont need to pull a wage or money out of the new...
  13. J

    Retained profits

    Thanks for the reply, spoke to my accountant and he just simply surgested to invest the excess in a savings account in the company name.He's a lovely guy but very old fashioned and near retirement. I was wondering if there was any better way of maximising this excess that I could research, the...
  14. J

    Retained profits

    Hi guys/girls If my company (ltd) is expecting profits after corp tax of say £120000 and myself and wife take the max out before we hit the 40% brackets (£80k)..what would be a wise route to take with the excess ? Any investment gurus out there many thanks Joop
  15. J

    sole to ltd assets

    Hi guys We went from sole to ltd about 6 months ago, now the plan was that the money in the soletrader account was to be left (as I have paid up any tax liability on it) and I was then going to lend it back to the new ltd company to pay the bank loan off (as directors loan) and then be able to...
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