Hi folks, I'm starting to trade as an LTD company as soon as I have the bank account ready, but something is confusing me. I've asked my accountant but haven't had a response so far. If i finish the 13/14 year now my net profit would be (hypothetically) 50k + 10k of stock held. so £60k, however if I sell the stock to the new LTD company whilst still in 13/14 it would still be £60k as the stock would have been sold at cost to the company. BUT, and this is the part that confuses me- if I don'\ start trading as the new LTD company until May, and then I sell the 9k stock to it - that means that 13/14 profit would be £60k and 14/15 (sole trader) profit/income would be 9k. Meaning I'm penalised by waiting two weeks to sell the stock to the LTD company. Am I understanding the situation correctly? Second question - I have 2 or 3 large expenses from a personal account back in 2012 before the start of my business which I didn't bother adding to last years accounts as I wasn't going to get taxed anyway, can these be added to 13/14 years accounts at all? And if so, is it possible to show them without drawing the cash?