Issues before submitting corporation tax return

Discussion in 'Accounts & Finance' started by Samuel Edwards, Jul 24, 2021.

  1. Samuel Edwards

    Samuel Edwards UKBF Newcomer

    31 0
    I set up my before self-employed trading business as a limited company on 30th December 2019. Everything is lining up great, but we have 3 expense bill issues.

    The expenses add up to just under £150 for the three expense bills together. They were invoiced around 7 days before our incorporation date and have been invoiced to my old self-assessment business details, but taken using my business bank account (I believe this was at the point we were changing direct debit accounts, a couple of mistakes were made).

    We are unsure of the best way of dealing with these couple of mistakes. They are for a Xero bill and two server bills we have made this mistake on.

    Really appreciate some assistance.
    Posted: Jul 24, 2021 By: Samuel Edwards Member since: May 29, 2018
  2. Scalloway

    Scalloway Contributor

    17,311 3,729
    If the payments appear in the limited company's accounts but belong to the self employed business they should be treated as a Director's Loan. The limited company can reimburse you.
    Posted: Jul 24, 2021 By: Scalloway Member since: Jun 6, 2010